JM Block Cross Indicator

This indicator identifies signals based on customizable time blocks. Time blocks can be changed in the input parameter.

Block Calculation

• Divides the day into equal blocks starting at user-defined time

• Example: 15-minute blocks starting at 1:00 AM → 1:00-1:15, 1:15-1:30, etc.

• Tracks highest high/lowest low within each block

Signal:

• Compares current block's closing prices to previous block's extremes

• Places arrow on FIRST candle that closes beyond previous block's level

• Red Cross Arrow: Price closes ABOVE previous block's high

• Green Cross Arrow: Price closes BELOW previous block's low