How it is calculated
The open of the first bar that starts on a new New York date, daylight saving included; with Days Monday to Friday only those dates set it, and the open holds over the weekend. position is 1 when the close is above the open, -1 below it and 0 on it; first_bar is 1 on the bar that set the open.
Reference: ICT midnight open (true day open): 00:00 on the New York clock
How to read it
On H1 or finer the first bar of a date starts at midnight; coarser bars start later and the open is theirs. A forex Sunday evening keeps Friday's open until Monday 00:00. Above the open the day trades at a premium, below it at a discount.
In a strategy
Buy below the open on a bullish day: with m = ctx.ind("midnight_open", days="mon_fri") take long setups only while m.position is -1, under the true day open.
Inputs
| Input | Type | Default | Range or choices |
|---|---|---|---|
Daysdays | Choice | "mon_fri" | Monday to Friday, Every day |
What it draws
| Line | Drawn as |
|---|---|
| Midnight open | Steps |
Used in
No strategy template reads it yet.