DAX Technical Analysis: German DAX 40 Levels & Trading Strategies

Keep the instrument and session definitions separate

The commonly quoted DAX performance index includes dividend reinvestment; price-return and other variants also exist. FDAX is a futures contract and GER40 is often a broker label. Inspect the provider’s symbol specification instead of assuming all of them share one price, session or tradable volume.

Use indicators as measurements, not confirmation of institutions

There is no evidence here that a particular timeframe or moving average produces the most reliable DAX trades. Record the indicator inputs and compare results using the same feed.

• Moving averages: specify SMA or EMA, bar count and timeframe. A rising average is not evidence of institutional limit support.
• Opening range: define a window such as 09:00–10:00 German local time, then record its high and low. The rest of the day can trade outside it.
• VWAP: a cash index may not have traded-volume data comparable with an actual futures contract. Do not treat a CFD’s tick volume as consolidated exchange volume.
• RSI: divergence can describe slowing momentum while the trend continues. Combining indicators does not remove false signals.

Evaluate a gap hypothesis without invented probabilities

Measure the gap from the chosen prior-session close to the chosen next-session open. There is no validated 0.3% high-fill or 0.8% runaway threshold supplied here. A gap can persist, widen or close.

• Hypothetical example: a prior close of 20,000 and opening price of 20,100 create a 100-point gap, equal to 0.5% of the prior close. These numbers are illustrative, not current DAX levels.
• Define whether a fill means any touch, a candle close or an executable exit at the reference price. Include spread and slippage.
• Choose the entry, stop and time exit before testing. A fixed 15-point invalidation has different implications across volatility regimes and contract sizes.
• Separate cash-session gaps from futures roll effects or broker-specific out-of-hours pricing. Evaluate failures and unseen data as well as successful examples.

Opening-range script: exchange timezone and display limits

The unchanged indicator below uses the selected symbol’s exchange timezone because time() has no explicit timezone argument. Its CET title does not force German time or override daylight saving. Use an intraday chart with bars aligned to the intended window, verify the symbol timezone and session, and load bars before the window. The range develops during the session and its last values remain plotted afterwards, including before the next session begins. All seven days are included in the session string. It does not place orders, create alert conditions or label a completed breakout; it is not an opening-range strategy backtest.

//@version=6
indicator("DAX 09:00-10:00 CET Opening Range", overlay=true)

// Time inputs
orSession = input.session("0900-1000", "Opening Range Session (Exchange Time)")
inSession = not na(time(timeframe.period, orSession + ":1234567"))

var float orHigh = na
var float orLow  = na

if inSession
    if not inSession[1]
        orHigh := high
        orLow  := low
    else
        orHigh := math.max(orHigh, high)
        orLow  := math.min(orLow, low)

plot(orHigh, "OR High", color=color.green, linewidth=2, style=plot.style_linebr)
plot(orLow, "OR Low", color=color.red, linewidth=2, style=plot.style_linebr)