Market Sessions By Zcointv/Scottfdx

This code has been writted By Zcointv/Scottfdx traders

This is a Market Volatility Box Breakout Strategy designed for intraday trading on 5-minute charts.

How it Works:
Volatility Box: The strategy defines a "volatility box" by capturing the price range (High and Low) around the New York market open.

The box begins one hour before the market open and ends 30 minutes after the market open.

The High and Low of this box are locked for the rest of the day.

Breakout Entry: A trade is opened only after this session period has ended.

Long: A 5-minute candle must close above the High of the box.

Short: A 5-minute candle must close below the Low of the box.

Risk Management:

1% Risk: Each trade risks a maximum of 1% of the total account equity. The position size is calculated dynamically based on this risk.

Stop Loss: The initial stop-loss is placed just outside the opposite side of the box.

1:1 Take Profit: The target is set at a 1:1 risk-to-reward ratio.

Partial Exit & Breakeven: When the take-profit target is hit, 50% of the position is closed. The stop-loss for the remaining 50% is then immediately moved to the entry price (breakeven).

Key Features:

The strategy is limited to one trade per day.

The indicator also has options to display configurable boxes for the Tokyo and London sessions.

The High and Low levels of the volatility box are plotted on the chart for visual reference.