Night Low Liquidity Congestions with 4 Trading Sessions

This indicator is designed to help traders visualize and analyze key market periods of low liquidity during the night and identify high-activity zones in the morning. It also includes customizable time sessions for major global markets, including the European and American sessions, as well as the London Close session.

The main functionalities include:

- Night Low Liquidity Phase: This highlights periods with typically low market activity during the night (default: 20:01–5:59). It also displays the total range (in pips) during this phase, allowing traders to identify potential price consolidations.

- Morning Hot Zone: This focuses on high-activity periods in the early morning (default: 6:00–7:59), providing visual cues without altering bar colors.

- European Trading Session: Displays the European market’s open hours (default: 8:00–12:00), shaded in blue, to mark increased volatility typically seen during this period.

- American Trading Session: Marks the active hours of the U.S. market (default: 12:01–16:59), where market activity tends to peak.

- London Close Area: Highlights the closing hours of the London market (default: 17:00–20:00), allowing traders to track potential liquidity shifts.

Key Features:

1. Customizable Time Sessions:

- The indicator allows for full customization of the start and end times for each market session, making it adaptable to different instruments and trading style.

- Traders can choose their preferred color and opacity for each time zone to suit their charting preferences.

2. Night Low Liquidity Pip Range Calculation:

- Automatically calculates and displays the pip range for the Night Low Liquidity phase.

- The range is colored red if it exceeds the specified threshold and green if it remains below it.

3. Alarm System:

- Customizable alerts for H1, M15, and M5 timeframes.

- Traders can set alerts to trigger just before a bar closes during specific sessions (European, American, or London Close) and on selected days of the week (Monday–Friday).

- The alarm system allows for full customization of active hours and days, giving traders full control over their notifications.

4. Clear Visual Cues:

- The indicator uses transparent shading to differentiate market sessions, making it easy to spot different phases of the trading day.

- Each session is visually distinct and can be toggled on or off based on trader preferences.

Ideal For:

- Traders who focus on intraday strategies and want to understand how market sessions affect liquidity and volatility.

- Those looking to trade during specific time windows like the Night Low Liquidity or Morning Hot Zones.

- Traders who need to automate their alerts based on specific market hours and close events for major timeframes.