Prometheus NFP Levels

How it works

This script identifies and marks the high and low price levels for specific economic events, primarily the first Friday Non-Farm Payrolls (NFP) report and the Federal Open Market Committee (FOMC) meeting days. Users can input specific dates to retrieve the market price ranges during these significant financial announcements.

The tool generates precise price levels by tracking the trading range on the selected date, allowing traders to visualize potential market reaction zones. It provides a simple method of marking these critical levels by using timestamp calculations that define a specific time window for price analysis.

Why it may be useful

Economic events like NFP and FOMC meetings can dramatically impact market movements, making these price levels crucial for traders seeking to understand potential market volatility and sentiment. By marking these specific high and low points, traders gain insights into how markets historically react to important economic announcements.

These levels serve as reference points for potential support, resistance, and market sentiment shifts. Traders can use this information to make more informed decisions about entry, exit, and risk management strategies during periods of significant economic uncertainty.

When to explore it

This tool is most effective during major economic event days, particularly the first Friday NFP reports and FOMC meeting dates. Traders can use these levels to identify potential market turning points, volatility zones, and potential trading opportunities immediately following significant economic announcements.

The signal is particularly useful for short-term traders like scalpers and day traders who need to quickly assess market sentiment and potential price movements. It provides a structured approach to analyzing market reactions to key economic data releases, helping traders prepare for potential rapid price changes.

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