Week designation

5 Nov 2023

The script is primarily used for visualizing the beginning and end of the week. It is particularly helpful when working with time intervals shorter than one day. In a very simple and clear manner, you can see when a specific week has started. This makes it easier to assess the market sentiment in a short timeframe.

Here are the operating principles of this script:

Initialization:
The script begins with initialization, where basic parameters and settings such as line colors and line style are defined.

Determining the Session Start:
The startSession(hour, minute) function is used to calculate the starting time of a session on the chart. Sessions can be divided into different time intervals, such as the daily session (D), weekly session (W), and monthly session (M).

Checking for Session Start:
The script checks if a new session is starting. If so, a vertical line is inserted on the chart to mark the beginning of that session.

• isSessionStart checks for the start of the daily session.
  
• isSessionStart_2 checks for the start of the weekly session.
  
• isSessionStart_3 checks for the start of the monthly session.
  

Marking Mondays:
The script checks if the current day is Monday (the day of the week number 2 represents Monday).
If the current session is starting or it is Monday, a vertical line is inserted on the chart with the day designation (color color_day).

Marking Lines on the Chart:
The lines inserted on the chart are vertical and have a specified style and color, which can be customized in the settings.