OPEN-SOURCE SCRIPT
Weekend Highlight
Overview
The Weekend Highlight script is designed to visually mark the weekends on trading charts, particularly for markets like cryptocurrency, which trade 24/7. By highlighting weekends and early Monday hours, this tool helps traders quickly identify these periods and analyze price action with clarity.
In traditional markets, weekends are a period of inactivity; however, this does not hold true for crypto markets. Recently, a significant portion of market moves seem to be initiated and accelerated over the weekends, where liquidity is sparse and order books are thin.
The aim of this script is to provide traders with a clear indication of the weekend periods, making it easier to see the impact of these low-liquidity times on price action.
Weekend Highlight: Colors the background of the chart during Saturdays, Sundays, and extends to Monday up until 8:00 AM in UTC+8.
Dynamic Time Adjustment: Uses UTC+8 as the reference timezone for weekend analysis, enabling precise highlighting for Asian trading hours.
Visual Enhancement: With a subtle yellow background, the script ensures weekends are distinguishable without cluttering the chart.
Skript med en öppen källkod
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. Du kan ange den som favorit för att använda den i ett diagram.
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