Quarterly Theory True Day Openings inspired by Daye

27 oct. 2024

The point of this indicator is to catch the big moves that happen in the market.

This is based on Daye Quarterly theory. When applied to the chart you will see different color lines that represent different quarters in the Quarterly theory.

Red line will represent quarter 1 this quarter will be either a accumulation or a continuation from the previous quarter.

Green line will represent quarter 2 this is where the big moves in the market tend to happen. it will start printing the line on the chart where the user will have time to look for entry models to get in a trade. Q2 and Q3 are important levels that are near forms of liquidity such as fair value gaps and old highs and lows.

This app will draw the lines that represent the quarter which will give a visual que to the user of the app to look for fvgs ,old highs and lows. once found they will be able to use an entry model to enter a trade.

entry models could be liquidity sweep . wait for buy/side stops to be taken and enter on fair value gap.

wait for ifvg next to quarter level to be tested and entered.

App Usage:

Max Time Frame is 1 hour and can go down to the min chart
Previous quarters will be left on the chart as they tend to be revisited by price at a later date.


Year > Green line: Year True open
Month > Yellow line: Month true open


Weekly > True open
Q1 == Red line "consolidation/manipulation"
Q2 == Green line "Trade this" >
Q3 == blue Line "Trade this"
Q4 == grey or blue


`TRUE OPEN` = beggining of Q2.
Bullish - buy below `TRUE OPEN`.
Bearish - sell above `TRUE OPEN`.

True Year Open = first Monday of April.
True Month Open = second Monday of the Month.
True Week Open = every Monday at 6:00PM.

True Day Open = 12:00 Midnight.
True New York Session Open = 7:30.

7 nov. 2024

Notes de version

Update:
updated timeframe: Monday open prices can now be seen on the day chart.
Added input boxes: Can now edit the look of the lines such as width and style.
Removed labels on yearly true open.
improved speed.

7 nov. 2024

Notes de version

Update description:
updated the monthly true opens that open every second Monday. They are now colored and extend to the end of the month.

monthly True open every second Monday to end of the month.
Q1 > Red > Jan Feb Mar
Q2 > Green > Apr May Jun
Q3 > Aqua > Jul Aug Sep
Q4 > Gray > Oct Nov Dec

8 nov. 2024

Notes de version

quick fix for lower timeframe under an hour.

17 nov. 2024

Notes de version

Fix True month open lines on timeframes less than 60 min.
Added process to figure out new your EST day light savings.

day light savings DST formula
Every Second Sunday of march.
First Sunday of November.

17 nov. 2024

Notes de version

Remove unused label.

23 déc. 2024

Notes de version

update:
Fix higher timeframes display issues. can now view true day/month/year on higher timeframes listed below.
Fix opening prices not displaying correctly on higher timeframes

working timeframes
mins
1 to 30
hours
1 to 12
day chart

5 janv.

Notes de version

Update.
Fix: current week not being drawn when new week/month open.
updated: when new week appears the line will extend to the end of the week

il y a 7 jours

Notes de version

updated color for true week opening. color is dodo brown. this week tends to not have a function and does not hold price at this level very well.