Tools / 01 Context
Composites, the night value area, the previous day's value, POCs, single prints, key levels. Drawn automatically on your TPO chart, clean and precise, at all times. Not a single line drawn by hand.
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Studies in this step: Market Context · Composites & Key Levels
The only thing the study leaves to you is the choice of which days to merge. Merge them in Sierra Chart, and the study draws the composite value area, its POC and the number of days.
The duration counts cash sessions, not calendar days.
When price breaks a composite, the study cuts it. Intact composites keep running to the right, so you only see the value that still matters.
You choose in the inputs the percentage it takes to break a composite.
The night value area, the previous day's value, the overnight value and the single prints are drawn every session.
When the market is extended on the weekly, the previous day's value is left out because it no longer matters. An option shows it anyway.
Monthly, weekly and yearly SD bands, VWAPs, previous highs and lows. When levels are too close, they are grouped into one zone with one label, so the text never overlaps.
When the regimes disagree, the dissonance zone is drawn too.
In replay, Sierra Chart knows the whole contract in advance: a composite still in progress becomes one bar that mixes the night value and the session of the day. The study rebuilds each composite from the start to the previous session instead, so what you study in replay is what you would have seen live.
Which days belong together is a reading decision. The study draws it, it does not decide it.
A key level is a place to pay attention, not a reason to trade by itself.
It runs on a Sierra Chart TPO chart (Package 5 or higher).