PSP Universal First Hour Trading System

PSP Universal First Hour Trading System

Type: Indicator (Pine v5)
Works on: Any symbol & intraday timeframe
Idea: Trade the breakout of the first-hour range with auto Targets/SL, clean signals, and a full P&L dashboard.

What it does

Automatically detects the first-hour session (fully configurable start time & timezone) and draws:

First Hour High / Low

Projected Target and Stop-Loss for both directions

Triggers one signal per day on breakout:

🟢 BUY when price breaks above the First Hour High

🔴 SELL when price breaks below the First Hour Low

Lets you choose Signal timing:

Close = confirms at candle close (more reliable)

Touch = triggers intra-bar (more responsive)

Tracks and displays a comprehensive P&L table: trades, win rates, avg P/L, R:R, today’s stats, and ₹ results based on your lot-size.

P&L Dashboard (auto-updating)

Totals: Trades, Win Rate, Target Hits vs Misses

Breakdown: Buy vs Sell counts & win%

Averages: Avg Profit, Avg Loss, R:R

Today’s Section: Trades, Win%, Targets, Misses, Today P&L (Pts & ₹)

Overall: Total Profit/Loss (Pts & ₹), Net P&L, est. ROI (base ₹1L)

Context: Timeframe, Session time, Target mode/values, Candles, Status

How to use

Add the indicator to your chart.

Set your session start time, timezone, and first-hour length to match the market.

Choose Points or Percentage for Target/SL and set values.

Decide whether signals should confirm on Close (recommended) or on Touch.

(Optional) Set From Date and Lot Size to compute accurate ₹ stats.

Enable alerts for automation or notifications.

Good to know

Designed to avoid multiple trades per day—first valid breakout only.

Lines and labels are non-repainting when using Signal on Close.

Works across indices, stocks, futures, and crypto; adjust Target/SL to instrument volatility.

Best-practice presets (suggestions)

Indices (5-min): Target 40–80 pts, SL 25–40 pts

Large-cap stocks (5–10 min): Target 0.5–1.0%, SL 0.3–0.6%

Crypto (5–15 min): Start with % mode (e.g., TGT 0.5–1.0%, SL 0.3–0.7%)