Forex LEAcademyForex LEAcademy Indicator
Overview:
The Forex LEAcademy script is designed for forex traders who want to visualize key price levels during the Asian trading session. This script highlights the high and low points of a specified candle time and dynamically draws lines to represent critical levels for market analysis.
Key Features:
Session Time Management:
Users can set the specific time frame to focus on, allowing for targeted analysis during the Asian trading session.
Dynamic Highlighting:
The indicator automatically highlights the background during the specified candle time, making it easy to identify the session at a glance.
Price Level Calculation:
At the beginning of each new session, the script calculates and stores the high and low values of the defined candle, which are essential for identifying potential breakout or reversal points.
Visual Representation:
The indicator draws horizontal lines on the chart to represent:
The first high and low of the session.
Additional levels above and below the initial range (T1, T2, T3, T4), calculated based on the candle height. These levels provide valuable insights for setting target prices and stop-loss levels.
Customizable Input Parameters:
Users can customize the time frame for the candle being analyzed, enhancing flexibility for different trading strategies.
Usage:
This indicator is ideal for traders looking to capitalize on the price movements in the forex market, particularly during the Asian session. By understanding the high and low points within this critical time frame, traders can make informed decisions based on market behavior.
Leacademy
LE AcademyLE Academy
This script is designed to analyze and visualize key price levels based on the first 5-minute candle of a new trading session, starting at a customizable time (default: 09:15). The script identifies the high and low of the first candle and calculates four key target levels based on the range (height) of that candle:
1. **T1**: 50% extension above the high of the first candle.
2. **T2**: 200% extension above the high of the first candle.
3. **T3**: 50% extension below the low of the first candle.
4. **T4**: 200% extension below the low of the first candle.
### Key Features:
- **Session Start Time**: The session is triggered at 09:15 (or any custom time) and calculates key levels based on the first candle's high and low.
- **Price Levels**: The script automatically draws horizontal lines for the first candle's high, low, and the four calculated target levels (T1, T2, T3, T4) to guide intraday trading decisions.
- **Dynamic Updates**: These lines extend and update with each new bar, helping traders track how price interacts with these key levels throughout the session.
This tool is ideal for day traders and scalpers who focus on early session price action and want to track breakout levels and potential targets based on the initial price movement of the day.
**Usage**:
1. Add the script to your chart.
2. The first candle of the session is captured at 09:15, but this can be adjusted for different markets or strategies.
3. Watch how price reacts around the high, low, and the calculated target levels (T1 to T4) for potential entry or exit points.
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This script is perfect for traders looking to analyze the initial momentum of the market and make informed decisions based on key price levels generated from the first minute of trading.
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