Multi-Period Opening Range [ORB]

20 giờ trước

Multi-Period Opening Range Indicator

A comprehensive Opening Range (OR) tool for traders who want to track multiple timeframe ORs simultaneously with complete visual customization.

📊 WHAT IS OPENING RANGE?

The Opening Range is the high and low price established during a specific period at the start of a trading session. Professional traders use these levels as critical support/resistance zones throughout the day.

✨ KEY FEATURES

Five Customizable OR Periods:

• 5-Minute OR: 9:30-9:35 AM EST (Quick scalping reference)
  
• 15-Minute OR: 9:30-9:45 AM EST (Standard OR period)
  
• 30-Minute OR: 9:30-10:00 AM EST (Extended morning range)
  
• 1-Hour OR: 9:30-10:30 AM EST (Full morning session)
  
• Overnight OR: 6:00-7:00 PM EST (After-hours reference)
  

Complete Visual Customization:

• Individual Toggle Controls: Turn each OR period on/off independently
  
• Custom Colors: Set unique colors for each timeframe's lines and fills
  
• Adjustable Line Thickness: Choose from 1-5 pixel width
  
• Label Styles: "5Min OR-High" or simple "OR-High" format
  
• Label Background Options: Choose colored backgrounds or clean text-only labels
  
• Label Sizes: Tiny, Small, Normal, or Large text
  

Smart Display Options:

• OR-High, OR-Mid, OR-Low: Each level clearly labeled with price tooltips
  
• Midpoint Toggle: Show/hide dashed midpoint line
  
• Fill Toggle: Enable/disable shaded area between levels
  
• Historical Ranges: Show/hide previous session ORs
  
• Line Extension: Set projection distance (0-1440 minutes, default 5 min)
  
• Color-Coded Labels: Semi-transparent backgrounds match each OR theme (optional)
  

🎨 DEFAULT COLOR SCHEME

Active by Default:

• 5-Min OR: Red lines (no fill)
  
• 1-Hour OR: Sky blue lines (no fill)
  
• Overnight OR: Brown lines with shaded fill
  

Disabled by Default:

• 15-Min OR (Purple) - enable when needed
  
• 30-Min OR (Orange) - enable when needed
  

📈 HOW TO USE

Setup:

• Add to any intraday timeframe (1min, 5min recommended)
  
• Enable your preferred OR periods
  
• Customize colors for visual distinction
  
• Set line extension (default 5 minutes)
  

Trading Applications:

• Breakout Trading: Enter when price breaks OR-High/Low
  
• Range Trading: Trade between levels during consolidation
  
• Support/Resistance: Use multiple ORs as confluence zones
  
• Risk Management: Set stops beyond OR levels
  
• Session Analysis: Compare OR widths to gauge volatility
  

Advanced Techniques:

• Watch for false breakouts returning inside range
  
• Combine with volume for confirmation
  
• Use overnight OR for pre-market sentiment
  
• Layer multiple ORs for high-probability zones
  

⚙️ CUSTOMIZATION OPTIONS

Display Settings:

• Show/hide historical ranges, midpoint lines, and fills
  
• Line thickness: 1-5 pixels (default: 1)
  
• Label size: Tiny to Large
  
• Label style: With period prefix or generic
  
• Label background: With background or no background
  
• Extend lines: 0-1440 minutes (default: 5)
  

Per-Period Controls:

Each OR has independent settings for enable/disable, line color, fill color, and transparency.

💡 PRO TIPS

• Start with 5-min and 1-hour ORs only
  
• Use distinct colors for each timeframe
  
• Keep historical ranges OFF for cleaner charts
  
• Adjust extension: 5-10 min for active trading, 60+ for planning
  
• Combine OR breakouts with volume spikes
  
• Use overnight OR to understand after-hours action
  
• Wait for clean breakouts with volume confirmation
  

🔧 TECHNICAL SPECS

• Timezone: America/New_York (EST/EDT)
  
• Compatible Timeframes: Any intraday under 1 day
  
• Optimal Timeframes: 1-minute, 5-minute charts
  
• Real-Time Updates: Dynamic line extension with new bars
  

📌 BEST PRACTICES

• Use on liquid instruments (ES, NQ, SPY, QQQ)
  
• Wait for volume-confirmed breakouts
  
• Place stops beyond OR levels you're trading
  
• Size positions based on OR width
  
• Respect 1-hour OR as major support/resistance
  

🎯 IDEAL FOR

Day traders, scalpers, futures traders (ES/NQ/YM), equity traders (SPY/QQQ), and anyone using Opening Range methodology in their trading strategy.

Note: For educational purposes. Practice proper risk management and combine with your complete trading strategy.

19 giờ trước

Phát hành các Ghi chú

Updated Chart

19 giờ trước

Phát hành các Ghi chú

Updated Chart