X Tail that Wags

intraday session-framework and ETH-anchored VWAP tool for TradingView. It draws today’s OVN (ETH) high/mid/low, today’s RTH-day open, previous day open/high/low, and a carried ETH VWAP handle (yesterday’s 4:00 PM NY VWAP, projected forward) to give you a clean, non-repainting scaffold for bias, structure, and execution. All timestamps are New York–local with DST handled explicitly, so historical sessions align correctly across time changes.

Key Capabilities

ETH OVN Range (18:00 → 09:30 NY)

Captures the rolling overnight high/low and computes the mid; at 09:30 NY it locks those levels and extends them to 16:00 NY (same day).

Optional labels (size/color configurable) placed slightly to the right of the 4 PM timestamp for readability.

Daily Handles (Today & Previous Day)

Today’s open line starts at the ETH open (anchor preserved) and extends toward 4 PM NY (or up to the “current bar + 5 bars” cap), with label control.

Previous day open/high/low plotted as discrete reference lines for carry-over structure.

ETH-Anchored VWAP (Live) + Bands

ETH-anchored VWAP runs only during the active ETH session (DST-aware).

Optional VWAP bands (0.5×, 1.0×, 2.0× multipliers) plotted as line-break series.

Carried ETH VWAP Handle (PD 4 PM Snapshot)

At 16:00 NY, the script snapshots the final ETH VWAP value.

On the next ETH open, it projects that value as a static dashed line through the session (non-mutating, non-repainting), with optional label.

Labeling & Styling

Single-toggle label system with color and five sizes.

Per-line color/width controls for quick visual hierarchy.

Internal “tail” logic keeps right endpoints near price (open-anchored lines extend to min(4 PM, now + 5 bars)), avoiding chart-wide overdraw.

Robust Session Logic

All session boundaries computed in NY local time; DST rules applied for historical bars.

Cross-midnight windows handled safely (no gaps or misalignment around day rolls).

Primary Use Cases

Session Bias & Context

Use OVN H/M/L and today’s open to define structural bias zones before RTH begins. A break-and-hold above OVN mid, for example, can filter long ideas; conversely, rejection at OVN high can warn of mean reversion.

Carry-Forward Mean/Value Reference

The carried ETH VWAP (PD 4 PM) acts as a “value memory” line for the next day. Traders can:

Fade tests away from it in balanced conditions,

Use it as a pullback/acceptance gauge during trends,

Track liquidity grabs when price spikes through and reclaims.

Execution Planning & Risk

Anchor stops/targets around PD H/L and OVN H/M/L for well-defined invalidation.

Combine with your entry model (order-flow, momentum, or pattern) to time fades at range extremes or momentum breaks from OVN mid.

Confluence Mapping

Layer the tool with opening range tools, HTF zones, or profile/VWAPs (weekly/daily) to spot high-quality confluence where multiple references cluster.

Regime & Day-Type Read

Quickly see whether RTH accepts/rejects the OVN range or gravitates to PD VWAP handle, helping classify the day (trend, balanced, double-distribution, etc.).

Quick Start

Apply to your intraday chart (any instrument supported by TradingView; best on ≤15m for live intraday context).

In Current Day group, keep Open and OVN HL on; optionally display the mid.

In Previous Day group, enable PD Open/HL for carry-over levels.

Enable AVWAP if you want live ETH-anchored VWAP and its Bands for distance context.

Keep PD VWAP on to project yesterday’s 4 PM ETH VWAP as a static dashed line into today.

Use the Label group to size/color the on-chart tags.

Settings Overview (Plain-English)

Label: Toggle labels on/off; choose label text color and size.

Current Day:

Open (color/width) — daily open line anchored at ETH open.

OVN HL (and Mid) — overnight high/low and midpoint, locked at 09:30 and extended to 16:00.

AVWAP + Bands — ETH-anchored VWAP with optional 0.5×/1×/2× bands.

Previous Day:

PD Open/HL — yesterday’s daily handles.

PD VWAP — the carried snapshot of yesterday’s 4 PM ETH VWAP projected forward (dashed).

Notes & Best Practices

Time Zone: All session logic is hard-coded to America/New_York and DST-robust. No manual DST tweaks required.

Non-Repainting: The carried PD VWAP line is a snapshot; once drawn, it does not back-fill or mutate.

Intraday Use: Designed for intraday execution. It will display on higher TFs, but the session granularity is most informative at ≤15m.

Performance: Script caps lines/labels (500) and uses short “tails” to keep charts responsive.

Compatibility: Uses request.security(..., "D", series, lookahead_on) intentionally to lock daily handles early for planning; this is by design.

Typical Playbook Examples

Fade Extremes in Balance: As RTH opens inside OVN, look for rejection wicks at OVN High with confluence from PD VWAP handle overhead; risk above OVN High.

Trend Continuation: In directional sessions, acceptances above OVN Mid with price pulling back to the live ETH VWAP can offer continuation entries.

Reversion to Value: Sharp extensions away from the carried PD VWAP that quickly stall often revert to that handle; use it as a target or as an acceptance test.