Description: The SPX Auto S & R Consolidation & Range Highlighter is an advanced indicator designed to automatically detect consolidation zones and draw support and resistance levels on SPX charts. This tool also highlights the first hour range and tracks daily percentage changes from user-defined points, with the default set to the open price. Key features include:

• Consolidation Support and Resistance: Automatically identifies and displays consolidation zones, drawing support and resistance levels based on user-defined settings.
• First Hour Range: Tracks the high and low within the first hour of trading, providing crucial support and resistance levels early in the trading day.
• Daily Percentage from Open: Shows daily percentage changes from the open price or a user-defined point for clear intraday performance tracking.
• Premarket Levels: Provides insights into overnight price movements by displaying premarket high and low levels.
• Daily, Weekly, and Monthly Levels: Displays high, low, open, and close levels for better intraday, weekly, and long-term analysis.
• Moving Averages: Includes 8 EMA, 21 EMA, 50 SMA, 100 SMA, and 200 SMA to help identify trends and potential support/resistance levels.
• User-Defined Range Breakout (UDRB): Identifies the high and low of a user-defined time range at market open, useful for breakout strategies.
• Volume Oscillator: Highlights periods of increased volume, indicating significant trading activity.
• Candle Color Change: Changes the color of candles to signify higher-than-normal volume, making it easier to spot significant volume spikes.
• Potential Reversion & Initial Profit Signal: Marks potential reversion points and initial profit-taking signals with a (+) on the candles.

This comprehensive indicator enhances market analysis and trading decisions, making it an invaluable tool for any trader. Customize its extensive settings to align with your personal trading style and analysis needs for optimal performance.