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Highlight a specific time frame / session on a chart
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Highlight a specific time frame / session on a chart

  #1 (permalink)
Elite Member
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Highlight a specific time frame / session on a chart

Dear Fellow Members,

Is there a way to highlight a specific time frame on a chart in NinjaTrader? (Although now I use NinjaTrader, Im really curious about whether is this possible in MultiCharts?)
Id like to highlight e.g. the NY close session, or any other selectable duration (30 mins, 2 hours etc) time period.
Id like to do this in a way that the highlights are repeated on the chart, so for example if I watch a 15 min chart for a period of 30 days, the time frames should be highlighted on all the 30 days.

Is there an indicator for this purpose or any solution?


Thank you very much.
Heaps of pips to everyone.

Arpad

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  #2 (permalink)
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  #3 (permalink)
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I have coded an indicator that changes the backcolor for intraday sessions as defined per the session manager. The indicator can be found here:

https://futures.io/free_downloads/ninjatrader-7/indicators/758-download.html?view

If you want to highlight parts of trading session this can be done in a similar way. It would just need a small modification of the indicator.

It is important to use the session feature, otherwise you will run into issues with the different daylight savings schedules sooner or later.

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  #4 (permalink)
Trading Apprentice
Italy
 
Futures Experience: Advanced
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Answer
This post has been selected as an answer to the original posters question Answer


Arpad View Post
Dear Fellow Members,

Is there a way to highlight a specific time frame on a chart in NinjaTrader? (Although now I use NinjaTrader, Im really curious about whether is this possible in MultiCharts?)
Id like to highlight e.g. the NY close session, or any other selectable duration (30 mins, 2 hours etc) time period.
Id like to do this in a way that the highlights are repeated on the chart, so for example if I watch a 15 min chart for a period of 30 days, the time frames should be highlighted on all the 30 days.

Is there an indicator for this purpose or any solution?


Thank you very much.
Heaps of pips to everyone.

Arpad


This is the code for MC:

 
Code
inputs : SessionStart(0930), SessionEnd (1600), LunchStart (1130), LunchEnd (1400), AHColor(White), LunchColor(Cyan); 

{
Written by YMTrader on April 10, 2008

This is an ELD for color coding bars that are AH or Lunch. 
Configurable with inputs.

SessionStart(0930): What time the session Opens
SessionEnd (1600): What time the session Closes
LunchStart (1130): What time the Lunch starts
LunchEnd (1400): What time the Lunch ends 
AHColor(White): Color of your AH bar
LunchColor(Cyan): Color of your Lunch bar

}

if Time < SessionStart or Time > SessionEnd then
	begin
	PlotPaintBar( High, Low, "AH", AHColor ) ;
	Alert ;
	end ;	


	if Time > LunchStart and Time < LunchEnd then
	begin
	PlotPaintBar( High, Low, "AH", LunchColor  ) ;
	Alert ;
	end ;

Attached Thumbnails
Highlight a specific time frame / session on a chart-hrs.png  
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  #5 (permalink)
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What is the purpose of trading sessions and session templates?

Dear @Fat Tails,

Thank you for your help.
This indicator is great. And the others that you have created, too.
Accept my sincere and profound reverence for your efforts for helping others with such great indicators and post and comments.

For those who might be interested also, Ive found another indicator for this purpose, which is also great:
https://futures.io/free_downloads/ninjatrader-7/indicators/775-download.html?view


By the way, what is the purpose of trading sessions and more specifically, session templates?
I mean, why wouldnt you simply set 24/7 for any instrument? If there is no data coming, the chart will halt, so you end up with the same chart as if you would set the appropriate session template with selective time frames.

What do you gain if you set the appropriate session template instead of 24/7?

Please elaborate this.


Thanks,
Arpad

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  #6 (permalink)
Elite Member
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Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
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Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
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Arpad View Post
Dear @Fat Tails,

Thank you for your help.
This indicator is great. And the others that you have created, too.
Accept my sincere and profound reverence for your efforts for helping others with such great indicators and post and comments.

For those who might be interested also, I’ve found another indicator for this purpose, which is also great:
https://futures.io/free_downloads/ninjatrader-7/indicators/775-download.html?view


By the way, what is the purpose of trading sessions and more specifically, session templates?
I mean, why wouldn’t you simply set 24/7 for any instrument? If there is no data coming, the chart will halt, so you end up with the same chart as if you would set the appropriate session template with selective time frames.

What do you gain if you set the appropriate session template instead of 24/7?

Please elaborate this.


Thanks,
Arpad


Usually a trading session for futures includes the night session and the day session, which is identical with the floor session. There is a number of trading tools that require the exact start time and end time of the day session. These include

- the opening range
- market profile
- the current day's volume weighted average price (VWAP) as a benchmark
- the daily range of the RTH session
- floor pivots
- dynamic fib levels

Session templates simply store start and end times of these sessions and make them available for use with indicators and strategies.

Let us assume that I want to trade ES and CL and use some of the above tools with and without a session template.

Without a session template:

Store session start and end time for each traded instrument within each indicator (LOL). Otherwise when toggling from one instrument to another you would need to reenter session start and end times. Convert US time to European time. Use different time conversion algorithms for each instrument (LOL). Code an algorithm to cope with different daylight savings rules to compensate for the differences between local time and exchange time (this is actually fun, I did it for NT 6.5).

With a session template:

Once create session template for each instrument and attach the template to instrument via instrument manager. Use <instrument settings> for all charts.

For all instruments you can now access session start and end times in your local time zone. Toggling from one instrument to another, different daylight savings schedules, no problem, your session start and end times are always correct.

Let us say that without session templates it is near impossible to use the above trading tools.

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  #7 (permalink)
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Now I see. Its clear. Thank you for your thorough answer.
And again, profound esteem to you for your immense efforts for helping us, in general.

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  #8 (permalink)
Membership Revoked
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Futures Experience: Advanced
Platform: NINJA
Broker/Data: ZEN
Favorite Futures: Crude
 
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Fat Tails View Post
Usually a trading session for futures includes the night session and the day session, which is identical with the floor session. There is a number of trading tools that require the exact start time and end time of the day session. These include

- the opening range
- market profile
- the current day's volume weighted average price (VWAP) as a benchmark
- the daily range of the RTH session
- floor pivots
- dynamic fib levels

Session templates simply store start and end times of these sessions and make them available for use with indicators and strategies.

Let us assume that I want to trade ES and CL and use some of the above tools with and without a session template.

Without a session template:

Store session start and end time for each traded instrument within each indicator (LOL). Otherwise when toggling from one instrument to another you would need to reenter session start and end times. Convert US time to European time. Use different time conversion algorithms for each instrument (LOL). Code an algorithm to cope with different daylight savings rules to compensate for the differences between local time and exchange time (this is actually fun, I did it for NT 6.5).

With a session template:

Once create session template for each instrument and attach the template to instrument via instrument manager. Use <instrument settings> for all charts.

For all instruments you can now access session start and end times in your local time zone. Toggling from one instrument to another, different daylight savings schedules, no problem, your session start and end times are always correct.

Let us say that without session templates it is near impossible to use the above trading tools.

Thanks Fat Tails,

Is it straightforward to make a session template?

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  #9 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
Thanks: 4,226 given, 25,599 received
Forum Reputation: Legendary


syxforex View Post
Thanks Fat Tails,

Is it straightforward to make a session template?

(1) Use the session manager. Create an appropriate session template for your instrument. Save it.

(2) Select this template under instrument settings.

(3) From now on, only open your charts with instrument settings.

There is a thread explaining how to setup session templates here:


https://futures.io/elite-circle/6055-correct-sessions-your-charts.html

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