NoProcess • PAX Opening Range

All credit & honor goes to Matt Kenah (Pax)

PAX-OR is a high-precision, automated Opening Range indicator designed specifically for Futures Traders. Unlike standard OR indicators that require manual time inputs, PAX-OR automatically detects the asset class (Indices, Metals, Energies) and configures the correct Opening Time, Point Value, and Volatility "Rungs" without manual intervention.

It utilizes 30-second granularity to capture the exact opening wick/body mechanics, providing a distinct advantage over standard 1-minute or 5-minute calculations.

🎯 Key Features

1. Intelligent Asset Detection The indicator automatically recognizes the ticker symbol and adjusts its logic for:

Indices: ES, MES, NQ, MNQ, YM, RTY (Opens @ 9:30 AM ET)

Energies: CL, MCL, NG, QG (Opens @ 9:00 AM ET)

Metals: GC, MGC, SI, HG (Opens @ 8:20 AM ET)

2. Dynamic "Paylines" (Dollar-Based Targets) A unique feature of PAX-OR is the Payline. Instead of arbitrary ticks, you define a dollar amount (default: $200). The indicator calculates exactly how many points the market must move from the Opening Range High/Low to achieve that profit, based on the contract's point value (e.g., $50 for ES, $20 for NQ).

Use Case: Great for setting automated "Break Even" or "First Take Profit" levels.

3. Volatility "Rungs" The indicator projects fixed-interval targets (Rungs) above and below the range. These rung sizes are hardcoded to optimized values for each specific asset (e.g., 15 points for ES, 65 points for NQ) but can be overridden in the settings.

4. Overnight Context Automatically plots the Overnight High (ONH) and Overnight Low (ONL) relative to the current session, providing immediate context on whether the market is opening within or outside of the prior global session range.

5. Live Info Dashboard A clean data table in the top-right corner displays:

Current Symbol & Root

Rung Size (in points)

Payline Offset (in points)

Current Opening Range size

Dollar Value per Point

Minimum Tick Size

⚙️ How It Works

The Open: When the session begins (based on the asset class specific time), the indicator scans the first 30 seconds of data to establish the High, Low, and Open (Pit Open).

The Range: It draws the High and Low of that opening period, along with the Equilibrium (EQ/Midpoint).

The Extension:

Paylines: Dashed lines appear at the calculated dollar-target distance.

Rungs: Solid lines appear at fixed intervals to act as trend targets.

History: You can configure the indicator to show the OR levels for the current day only, or extend them for 2-3 days to see how price reacts to previous session levels.

🛠 Settings Overview

Opening Range: Toggle the visibility of the range, background shading, and the specific Pit Open price line.

Paylines & Rungs: Toggle specific lines (Short/Long) and customize colors/styles.

Config:

Payline $ Value: Set your target dollar amount (default $200).

Rung Override: Enter a custom point value if you disagree with the auto-detected volatility size.

Number of Rungs: How many levels to draw (default 15).

Extend Lines: Choose between "Current OR Only", "2 Day", "3 Day", or "All".

Note: This indicator is optimized for the assets listed above. If used on an unsupported ticker, it defaults to standard settings (9:30 Open, $50/point).

Disclaimer: Trading futures involves significant risk. This tool is for educational and technical analysis purposes only.