The script highlights Frankfurt's opening range up until New York's close. It is described as No Trading Zone in Gabrielle Fabris's The Price in Time book.
Projections of the Frankfurt range are potential supports and resistances and they are used in trade management & for taking profits in his system.
Full rules are not mine to share. You have to read the book to understand his system and run your own backtest on each pair to find out what management method you will be most comfortable with.
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Added a table with the current NZT width.
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Fixed hours. I think this was because I confused the timeframe of Frankfurt with mine.
Great indicator! I've just been given a copy of the book and love the fact that its an entirely mechanical strategy with no place for emotions or psychology to mess up your execution. One question (and this is an issue in the book as well) - all the TP levels are extensions of the Frankfurt range. Yet your entries are 1 pip above the range and your stop loss 1 pip below. So your first TP level is not at 1R but usually at around 0.8 R. Meaning a trade closed at TP 1 is not equal to a losing trade, which can really add up over a number of trades. What is your experience with this?