The script shows the opening range of the instrument based on different resolutions and timeframes.
Inputs : 1. Resolution It decides the calculation frequency of the script. In Auto resolution, Standard values have been used.
2. Timeframe It decides the timeframe for the OHLC values. By default, it will use the chart timeframe and so chart OHLC values.
3. Lookback It decides the no. of ranges shown on the chart.
Middle Line can be hidden from the settings.
The script can be used for any instrument and on any timeframe. If price is above the opening range or the middle line, a trader should look for long opportunities. If price is below the opening range or the middle line, a trader should look for short opportunities. A sideways or choppy move is exoected if Middle line is crossed again and again.
For trading, wait for atleast 1st bar to close. and let the opening range build up first.
Happy Trading
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ChangeLog :
Introduced session based settings for Intraday and Swing Timeframes. Different sessions can be selected for timeframe below and above 15m. It will work only if Extended Trading Hours is selected in the TradingView Settings.
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I tried to add some new features in the script. But that couldn't work properly. So making the previous version live again for now. I'll fix the bugs and update shortly. Stay connected
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ChangeLog : - Bug Fixes - Introduced session based settings for Intraday and Swing Timeframes. - Different sessions can be selected for timeframe below and above 15m. - It will work only if Extended Trading Hours is selected in the TradingView Settings.
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ChangeLog : - Bug Fixes - Standard Range is available to use with all Chart types.
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ChangeLogs : 1. Bug Fixes - Fixed Improper positioning - Fixed Improper values 2. Added functionality for the trailing endpoints 3. Added Labels 4. Added functionality to hide old labels (to make chart clear) 5. Improved UI/UX
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Changelog : - Added option to ignore wicks (if it is checked, The First Candle's Body would be used, instead of High and Low.)
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Changelog : - Simplified The UI - Improved Range Display
hey love the script. can you add a option time for the open candle range to start ? for example if i want it to start at 9:30 i can maunally put it in thanks!!
marketmindset
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@Mcwaffle12, Thanks for your love and support. If your market opens @9:00 am and you wish to get the range upto 9:30 You can simply change the timeframe settings to 30m.l (already available). And you'll get your desired result.
If it is not what you wish to get, you can ask me for up Fahim. I'll definitely do.
ksadras
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@Mcwaffle12, I need a specific time for the bar to start. Can you please do that as an option. For example, We can use for crude which releases numbers on Wednesdays at 12:30 pm est.