01 — Indicators

Daily Bias Indicator

Shows the daily bias: BULLISH, BEARISH or NEUTRAL — at a glance.

TradingView

·v1.0

Previous day high/low/mid
Opening range detection
Bias score (Bullish/Bearish/Neutral)
Background coloring

Code on GitHub

02 — Why it works

From problem to solution.

The Problem

You start the trading day without knowing which direction the market leans — and trade against the trend.

The Solution

The indicator evaluates 3 criteria (previous day high/low, opening range, price position) and gives a score: BULLISH, BEARISH or NEUTRAL.

The Result

One glance at the green or red background is enough — you instantly know whether to look for longs or shorts.

03 — Use cases

When do I use this?

01
Score 3/3 BULLISH → background is green → you only look for long setups today.
02
Price below previous day low + below opening range → clear downtrend, shorts only.
03
Score 0 NEUTRAL → no clear bias → you trade range strategies today or wait.

04 — Setup

Getting started

01
Load indicator on intraday chart (M15, H1)
02
Read bias: BULLISH = longs only, BEARISH = shorts only
03
Use PD High/Low as support/resistance
04
Opening range breakout as entry signal

05 — Technical

Technical Details

Parameters & Settings(2)

OR Minutes
Opening range duration (minutes)
30
Timezone
Timezone
Europe/Berlin

Full Description

The Daily Bias Indicator shows the daily bias based on three criteria: 1. **Previous Day**: Is price above or below yesterday's high/low/midpoint? 2. **Opening Range**: Is price above or below the opening range? 3. **Scoring**: Each criterion gives +1 (bullish) or -1 (bearish) Score ≥ 2 = BULLISH | Score ≤ -2 = BEARISH | Otherwise = NEUTRAL Background turns green (bullish) or red (bearish) for quick visual recognition.

Changelog(v1.0)

v1.02026-02

+Initial Release

06 — Support

Need help?

Feel free to reach out with questions or issues.

timon-krueger@web.de