X Opens+

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Overview:

The X Opens+ indicator is a precision tool designed for traders seeking to analyze market structure and behavior around key timeframe opens. It highlights the open prices of custom-selected higher timeframes—such as daily, weekly, or monthly sessions—and visualizes them directly on lower timeframes. These open levels often coincide with high-volume zones, market imbalance, and institutional interest, making them powerful reference points for intraday and swing trading strategies.

Key Features:

Custom Timeframe Anchoring: Users can select any timeframe (e.g., daily, 4H, 1W) to display its current and previous session opens directly on their active chart. This allows for flexible multi-timeframe analysis within a single view.

Price Reaction Zones: Timeframe opens are frequently areas of heightened liquidity and directional bias. By identifying these opens and their relationship to current price action, traders can anticipate areas of support/resistance, trend continuation, or reversal.

Derived Midpoints and Ranges: The indicator also computes and displays the previous session’s range midpoint (EQ), as well as extension bands (e.g., ±1.0x or ±1.5x the prior range). These levels are useful for contextualizing volatility expansion and identifying breakout or fade setups around key open zones.

Historical Session Mapping: In addition to live opens, the tool optionally displays opens and range-based levels from previous sessions. This historical layering gives traders a broader context of how price has respected or rejected these levels over time.

Labeling and Customization: Each level can be labeled and color-coded to match user preferences. The visibility, size, and style of each element (e.g., lines, labels, bands) are fully configurable for visual clarity and user alignment.

Use Cases:

Confirming bias around daily or weekly opens, especially during market opens or key economic releases.

Identifying equilibrium levels for mean reversion or continuation setups.

Using ±1.0 and ±1.5 range projections as dynamic targets or invalidation zones.

Anchoring to key sessions for volume profile or order flow-based strategies.

Summary:

X Opens+ is a data-driven utility that transforms static session opens into dynamic market tools. By spotlighting where institutional interest likely concentrates—at the opens of significant timeframes—this indicator provides traders with a structural edge in identifying key zones that influence price behavior throughout the trading day or week

19 thg 7

Phát hành các Ghi chú

clean up

20 thg 7

Phát hành các Ghi chú

clean up of setting panel

20 thg 7

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further panel clean up

21 thg 7

Phát hành các Ghi chú

added channel feature to EQ

22 thg 7

Phát hành các Ghi chú

added high low lines. remember the more lines the less history

22 thg 7

Phát hành các Ghi chú

added +-2.0 and cleaned up code

22 thg 7

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added +- .25 and .75

23 thg 7

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fixed wording in control panel

26 thg 7

Phát hành các Ghi chú

partial fix of the ghosting lines due to pinescript bug. still working part but opens work now with one ghost line only when extending by 3

26 thg 7

Phát hành các Ghi chú

removed extending open by 3 to avoid ghosting while i try to fix further extensions

8 thg 8

Phát hành các Ghi chú

clean up of code