Custom Opening Range - Commodities

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The Custom Opening Range Indicator for Commodities is designed for instruments that trade nearly 24 hours, such as crude oil or natural gas. It allows traders to define the Opening Range based on Indian Standard Time (IST)—typically starting at 3:30 AM IST, which aligns with the global commodities market open. Users can customize both the start time and duration of the range (e.g., 5, 15, or 30 minutes). The indicator dynamically plots the high and low of this range and shades the area between them, providing a clear visual reference for breakout or reversal setups during the rest of the trading session.

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Phát hành các Ghi chú

This script is designed to:

Calculate and visualize the Opening Range (OR) for any session using Indian Standard Time (IST)

Automatically plot breakout levels (A and C) based on a user-defined percentage buffer

Draw persistent horizontal lines from the OR candle to the end of the trading day

Reset daily, drawing a fresh set of levels for each new session