SessionTrack Indicator
What is SessionTrack?
SessionTrack is an upgrade to our Initial Balance indicator and includes additional price level data for the configured session. Additional price levels include Session High, Session Low, Session Open, and Session Mid-Point.
Refer to the Initial Balance indicator for additional information on what Initial Balance provides.
That's all great, but how is it used?
Having SessionTrack on your chart provides a couple of benefits:
- It shows areas of possible Support and Resistance without having to manually find them.
- Gives a quick frame of reference for how the price range developed.
- Clearly shows if the Initial Balance range is still developing or is now established.
- Works well when paired with our SVSR indicator to determine where price is likely to bounce or resume trend.
The following is an example of how these would look on a tick based chart, but any other chart type works as well.
Breakdown of the SessionTrack Settings
Futures, foreign currency, and options trading contains substantial risk and is not for every investor. An investor could potentially lose all, or more, than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
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