ATR ExhaustionThe ATR Exhaustion indicator for Tradingview will overlay the minimum and maximum price limits for a timeframe over your chart. It calculates the price limits be adding and subtracting the ATR level from the high and lows of the period you are interested in.
For example, you can see the daily upper and lower ATR levels whilst on a 15-minute chart. The upper and lower ranges will update as price moves.
Why would this be useful?
It the true price range on average does not move more than x pips/points, then the range boundaries might provide support/resistance levels as price approaches the levels. Additionally, you can use this tool to easily identify how volatile price action has been in comparison to previous periods.
Features
Easily see ATR Exhaustion areas in any timeframe
Period highs and lows are plotted and updated as price action unfolds
Color fills change when price moves beyond the ATR range for easy identification of periods of strong trends or volatility.
ابحث في النصوص البرمجية عن "range"
NIBIRU MATRIXThe Nibiru Matrix is an entry timing tool based on oscillators and trends. It's to provide an intuitive way of timing trades when price is at the resistance or on the support.
The Nibiru Matrix provides trade entry hints and information about the current market behavior (trending or ranging). If the market is trending, it also shows the trend strength and direction. It is a secondary indicator meaning it trade should be made on the support or resistance using Nibiru Matrix as a confluence indicator.
What it plots?
Slow, fast and stochastic oscillators
Bar coloring to warn about possible setups
Trending/ranging market indication
Current volatility
2 methods of trend confirmation based on 2 different algorithms
Indicator components:
Trend/range setup - provides information about current possible trade strategy. Following a RANGE indicator, Voodoo Matrix suggests that the safest way to trade will be between the local support and resistance shown by Voodoo Support and Resistance, and following a TREND indicator, it is likely that a trending strategy or taking profit on larger ranges is more profitable.
Fast trend indicator - providing color based information on direction of the short-term trend. This is the most reactive trend indication shown by Voodoo Matrix. This can even be used for counter-main-trend scalping.
Green - uptrend
Red - downtrend
Gray - indecision
Slow trend indicator - providing color based information on direction of the long-term trend. It is based on the behavior of a longer period EMAs.
Green - uptrend
Red - downtrend
Gray - indecision
Volatility histogram - information on current price strength. Best used in confluence with the short term trend indicator.
Fast oscillator - oscillator based on stochastic RSI, modified to provide better information on timing and price movement. It's fast moving which helps time the shorter-term moves.
Slow oscillator - oscillator based on stochastic RSI, modified to provide better information on timing and price movement. It's slow moving and provides useful information about the price direction and strength of the move.
Stochastic oscillator - simple stochastic oscillator. Best used with both Fast and Slow Oscillators to get best timing and price movement strength and direction.
Overbought zone - area of the chart where the modified stochastic oscillator suggests the market is currently overbought.
Oversold zone - area of the chart where the modified stochastic oscillator suggests the market is currently oversold.
Neutral zone - area of the chart where the modified stochastic oscillator suggests the market is currently neutral.
Timing confirmation hints - signaling confirmation of fast oscillator forming a buy/sell setup.
Fast oscillator buy/sell color hint s – bar coloring to bring a focus and attention to possible buy/sell signal forming on the fast oscillator.
Use the link below or PM me to gain access to the indicator.
Dynamic Range BandsBased off of bollinger bands, used to find ranged loose buy/sell areas. Pair with other indicators.
Fib Signals | -- MoonLaunchr --Script that can display signals against key Fibonacci levels based on highs and lows within a given time-frame
Set the number of days back in time that you would like the indicator to look for the high and low for calculating fibs.
Bear Market options include sub-level fibs within the 12.3% range - 38.2 and 61.8% 3 levels deep.
Signals when crossing over and under key fibs.
Set ALERTS for each key fib piercing.
Set ALERTS when new highs or lows are made.
All levels and signals can be displayed or hidden and customised within the indicator options.
Next candle price projection.
Bull Market key fib sub-levels will be added in the next update (top 12.8% sub-levels 1,2 & 3).
Happy trading!
Fibonacci Price Range PlotterFibonacci levels set to fixed price values based on a timeframe.
Levels show probability of turning point based on extreme price ranges.
ColorPatternColorChart Range Trading...testing phase only, hence NOT for trading. To be improved further.
ADR - Average Daily Range [@treypeng] [v2]
This is an intraday indicator.
Average Daily Range provides an upper and lower level around the daily open. It is calculated by taking an EMA/SMA average of a given number of previous days' True Range.
It can be useful for helping guide support and resistance, for taking profits and for placing stops.
It's a similar idea to the ATR indicator, but calculated on a daily timeframe only.
Settings:
Length: number of days to take an average from
Offset: Set this to 0 to include today's range. Set to 1 to exclude today. Set to 2 to exclude today and yesterday.....and so on.
The other settings should be self explanatory :)
Opening asian Range 7 h FOREX.COM by Blackwolf v2.0This script is programmed for FOREX.COM with Rome Time Zone and is shows the min & max price reached in asian session every day.
Lo script mostra il massimo ed il minimo della sessione asiatica. Impostato per broker FOREX.COM e fuso orario di ROMA
Opening-RangesThis indicator will give you expansion levels of the opening range ( I recommend/use 15 min opening range) to trade futures and stocks. There are two colors used, the Fuchsia(Magenta) colored dots are the opening range added and subtracted from opening price. The Aqua(Cyan) colored dots are the opening range stacked. Like blocks. They are both respected during the day. But not as much as longer time frame fib levels.
Securities day session - Opening-Range- Jayy Opening Range (OR) for regular daytime session eg NYSE 0 930hrs to 1600 hrs.
This is not for Forex sessions which is addressed in a separate script.
This script fixes two issues:
syntax error when code compiles
flaky plotting of the opening range and targets that required page reloading
Additions:
In this code there are more more opening range time period choices at the bottom of the format dialogue box
Opening Range Targets:
Opening Range Targets as per Leaf_West
Targets are set at 127% , 162%, 200 %, 262 %, 362%, 423%, 685%, 1109% and 1794% and this can be traded intraday using methods described at charts-by-leaf.com I also have some Leaf West PDFs that describe how the targets are set and how they are traded. There are others that use opening range.
See the notes in the script for more detail.
My first opening range script originated from work done by Chris Moody. This script has changed significantly but there are small remnants of Chris Moody's script lurking within.
This script is available to all.
Cheers Jayy
2% candlePart of my strategy involves entering a trade based on a candle on a 5-min chart being < 2% (ignoring major volatility).
I got tired of calculating the range of a single candle either in my head or on a calculator, so I wrote this up. Feel free to share it.
Shows the %move of any single candle, default horizontal lines are 1% & 2%, can be changed by clicking the gear icon next to the indicator after you have added the indicator to your chart. Works on any timeframe, 5m, 1h, 1d, etc , obviously
the higher the timeframe, the larger the move.
extended session - Regular Opening-Range- JayyOpening Range and some other scripts updated to plot correctly (see comments below.) There are three variations of the fibonacci expansion beyond the opening range and retracements within the opening range of the US Market session - I have not put in the script for the other markets yet.
The three scripts have different uses and strengths:
The extended session script (with the script here below) will plot the opening range whether you are using the extended session or the regular session. (that is to say whether "ext" in the lower right hand corner is highlighted or not.). While in the extended session the opening range has some plotting issues with periods like 13 minutes or any period that is not divisible into 330 mins with a round number outcome (eg 330/60 =5.5. Therefore an hour long opening range has problems in the extended session.
The pre session script is only for the premarket. You can select any opening range period you like. I have set the opening range to be the full premarket session. If you select a different session you will have to unselect "pre open to 9:30 EST for Opening Range?" in the format section. The script defaults to 15 minutes in the "period Of Pre Opening Range?". To go back to the 4 am to 9:30 pre opening range select "pre open to 9:30 EST for Opening Range?" there is no automatic 330 minute selection.
The past days offset script only works in 5 min or 15 minute period. It will show the opening range from up to 20 days past over the current days price action. Use this for the regular session only. 0 shows the current day's opening range. Use the positive integers for number of days back ie 1, 2, 3 etc not -1, -2, -3 etc. The script is preprogrammed to use the current day (0).
Scripts updated to plot correctly: One thing they all have in common is a way of they deal with a somewhat random problem that shifts the plots 4 hours in one direction or the other ie the plot started at 9:30 EST or 1:30PM EST. This issue started to occur approximately June 22, 2015 and impacts any script that tried to use "session" times to manage a plot in my scripts. The issue now seems to have been resolved during this past week.
Just in case the problem reoccurs I have added a "Switch session plot?" to each script. If the plot looks funny check or uncheck the "Switch session plot?" and see the difference. Of course if a new issue crops up it will likely require a different fix.
I have updated all of the scripts shown on this chart. If you are using a script of mine that suffers from the compiler issue then you will find an update on this chart. You can get any and all of the scripts by clicking on the small sideways wishbone on the left middle of the chart. You will see a dialogue box. Then click "make it mine". This will import all of the scripts to your computer and you can play around with them all to decide what you want and what you don't want. This is the easiest way to get all of the scripts in one fell swoop. It is also the easiest way for me to make all of the scripts available. I do not have all of the plots visible since it is too messy and one of the scripts (pre OR) is only for the regular session. To view the scripts click on the blue eye to the right of the script title to show it on this script. If you can only use the regular session. The scripts will all (with the exception of the pre OR) work fine.
If for any reason this script seems flakey refresh the page r try a slightly different period. I have noticed that sometimes randomly the script loves to return to the 5 min OR. This is a very new issue transient issue. As always if you see an issue please let me know.
Cheers Jayy
[RS]MTF CATR Stop Hunt Levels V0EXPERIMENTAL:
Adaptation from stop hunt levels:
Uses timeframe and atr to set ranges.
Opening Range Breakout with 2 Profit Targets.Opening Range Breakout with 2 Profit Targets.
Updated Indicator now works on all Symbols with Many Different Session Options.
***Known PineScript Issue…While the Opening Range is being Formed the lines only adjust for that individual bar. Just reset Indicator after Opening Range Completes.
***All Times are Based on New York Time
Session Options Forex U.S. Banks Open (8:00), Gold U.S. Open (8:20), Oil U.S. Open (9:00), U.S. Cash Session - Stocks (9:30), NY Forex Open (17:00) , Europe Open (02:00), or if you choose Setting 0 the Session Runs from 00:00 to 00:00 (Midnight to Midnight).
***Ability to use 60 minute Opening Range, 30 minute, 15 minute, and many other options.
***However you can manually change the times in the Inputs Tab to adjust for any session you prefer. This is useful for Day Light Savings Adjustments. Also the default times work if your charts are set to EST Time. If you use A different time zone in your settings you need to Adjust the times in the inputs tab.
Initially Opening Range High and Low plot as Yellow Lines. If Price Goes Above Opening Range then Line Turns Green. If Price Goes Below Opening Range Line Turns Red.
By default the First Profit Target is 1/2 the Width of the Opening Range and the 2nd Profit Target is 1 Times the Opening Range. However these are Adjustable in the Inputs Tab.
By Default the Opening Range Length is 1 Hour. However, you can Change the Opening Range Length to 15 min, 30 min, 2 hours etc. in the Inputs Tab.
Plots a 1 Above or Below Candle when 1st Profit Target is Achieved, and a 2 when 2nd Profit Target is Achieved.
EM Range (VIX1D PrevClose • Close & Hi/Lo, N-Day View)What this indicator does
This study projects a one-day expected move (EM) from the CBOE:VIX1D using a simple 1-σ model with 252 trading days. It visualizes the possible intraday range from three anchors and also gives a T+1 forecast using today’s real-time VIX1D:
• PrevClose ±σ (solid) – a symmetric bracket around yesterday’s close.
• Low → Upper (dashed) – the upper bound implied from today’s low.
• High → Lower (dashed) – the lower bound implied from today’s high.
• NextDay (solid, optional) – tomorrow’s expected bracket built from the current price using today’s VIX1D (intraday it updates; after the daily close it freezes to the daily close).
All ranges are plotted in points, not percentages.
How it’s computed
Let σ = (VIX1D/100)/sqrt(252) * multiplier.
• PrevClose bands: prevClose * (1 ± σ) using yesterday’s VIX1D close.
• Low → Upper: todayLow * (1 + σ) using yesterday’s VIX1D close.
• High → Lower: todayHigh * (1 − σ) using yesterday’s VIX1D close.
• NextDay (T+1): currentPrice * (1 ± σ_today) where σ_today uses today’s VIX1D (real-time via 15m/30m/60m fallbacks; after session close it uses the daily close).
What you’ll see on the chart
• Two solid lines (PrevClose ±σ), two dashed lines (from Low/High).
• Optional blue solid lines for NextDay ±σ (toggle).
• Lines are per-day segments (not infinite). Yesterday’s dashed lines are carried into today for quick context; other lines do not carry across days.
• Colors are fully configurable; defaults use a deep, high-contrast palette tuned for dark backgrounds.
N-Day history (no over-extension)
Use “Show last N days” to display previous sessions. Historical lines are drawn only within their own day (clean separation of regimes).
Compact table (top-right by default)
The on-chart table shows concise, single-line rows:
• VIX1D−1: yesterday’s VIX1D close | ±EM (points) from PrevClose
• VIX1D (RT): today’s real-time VIX1D | ±EM (points) from current price
• Prev ±σ: numeric around PrevClose
• L → Upper: today’s low and its implied upper bound
• H → Lower: today’s high and its implied lower bound
• NextDay: tomorrow’s implied from current price
• >±σ: count of daily closes that finished outside PrevClose ±σ over the last N−1 completed days (with up/down breakdown)
Inputs & options
• VIX1D symbol: default CBOE:VIX1D.
• σ multiplier: default 1.0 (try 0.5 / 1.5 / 2.0 based on your risk model).
• Show last N days: how many sessions to render (incl. today).
• Show NextDay lines (blue): on/off toggle.
• Line width and color pickers for each band type.
• Table position: top/bottom, left/right.
Works on…
• Any instrument priced in points (stocks, ETFs, futures incl. ES).
• Any timeframe. For the T+1 forecast, the price anchor is real-time on intraday charts; on higher timeframes it uses an intraday proxy (60-minute) intraday and switches to the daily close after session end.
Notes & good practice
• VIX1D is an implied daily move proxy; it’s not a guarantee. Treat bands as probabilistic, not absolute barriers.
• The outside-±σ close count is a quick sanity check on how often price exceeds the one-day expectation—useful for regime awareness and sizing.
• If your market isn’t well-described by VIX1D (e.g., non-US hours or crypto), consider substituting a more relevant vol index.
Disclaimer: This tool is for research/education only and is not financial advice. Always manage risk.
Opening Range Gaps [TakingProphets]What is an Opening Range Gap (ORG)?
In ICT, the Opening Range Gap is defined as the price difference between the previous session’s close (e.g., 4:00 PM EST in U.S. indices) and the current day’s open (9:30 AM EST).
That gap is a liquidity void—an area where no trading occurred during regular hours.
Why ICT Traders Care About ORG
Liquidity Void (Gap Fill Logic)
-Because the gap is an untraded area, it naturally acts as a draw on liquidity.
-Price often seeks to rebalance by retracing into or fully filling this void.
Premium/Discount Sensitivity
-Once the ORG is defined, ICT treats it as a mini dealing range.
-Above EQ (Consequent Encroachment) = algorithmic premium (sell-sensitive).
-Below EQ = algorithmic discount (buy-sensitive).
-Price reaction at these levels gives a precise read on institutional intent intraday.
Support/Resistance from ORG
-If the session opens above prior close, the gap often acts as support until violated.
-If the session opens below prior close, the gap often acts as resistance until reclaimed.
Key ICT Concepts Anchored to ORG
Consequent Encroachment (CE): The midpoint of the gap. The algo is highly sensitive to CE as a decision point: reject → continuation; reclaim → reversal.
Draw on Liquidity (DoL): Price is algorithmically “pulled” toward gap fills, CE, or the opposite side of the ORG.
Order Flow Confirmation: If price ignores the gap and runs away from it, this signals strong institutional order flow in that direction.
Confluence with Other Tools: FVGs, OBs, and HTF PD arrays often overlap with ORG levels, strengthening setups.
Practical Application for Traders
Bias Formation:
Use ORG EQ as a line in the sand for intraday bias.
If price trades below ORG EQ after the open → look for short setups into the prior day’s low or external liquidity.
If price trades above ORG EQ → favor longs into highs/liquidity pools.
Execution Framework:
Wait for liquidity raids or market structure shifts at ORG edges (.00, .25, .50, .75).
Target: EQ, opposite quarter, or full gap fill.
Precision Reads:
ORG lines let traders anticipate where algorithms are likely to respond, providing mechanical invalidation and clear targets without clutter.
Open Range Breakout (ORB) with Alerts and LabelsThis is a classic 5min ORB indicator that highlights the orb range for your chosen session. This makes it easy to reference the range later in the trading day. In addition to the original orb signals for both buy and sell you can play off that zone for powerful entries later in the session. The signals give TP1 1:1 TP2 2:1
Options
You can set the name of the session
The color of the range.
The buffer for the SL
How many entries for the orb
Sessions RangeThis script clearly displays the price ranges (High–Low) of the main sessions—Sydney, Tokyo, London, and New York—with boxes on the chart and marked levels. Level labels can display price and date (or day of the week) in the time zone of your choice (GMT).
Main Features
Boxes by session: Visually highlight the range for each session.
High/Low levels: Lines at the session extremes, with configurable length.
Smart labels: If you choose to show "on the right," only active (unmitigated) levels track the price; when mitigated, they return to their starting point, keeping the chart clean.
Flexible date: Choose between day of the month (with time) or day of the week.
Alerts (optional): Notification when a level is broken.
Notes
The time zone displayed on the labels follows the chosen GMT, regardless of the chart time zone.
You can choose to extend levels until they are mitigated or beyond, depending on your reading.
Average Daily Range TrackerAverage Daily Range Tracker
This indicator helps you measure volatility in real time by tracking the Average Daily Range (ADR) and comparing it to the current day’s price action.
🔑 Features
Calculates the ADR over a user-defined lookback period (default = 14 days).
Displays today’s developing range (High–Low) as the session unfolds.
Shows what % of the ADR has already been consumed intraday.
Visual progress bar makes it easy to see how close today is to its historical average range.
Optional ADR plot available in a separate pane.
📈 How traders use it
Spot when a market has already made its “typical” daily move.
Adjust intraday trade expectations: avoid chasing after the bulk of the move is done.
Use % of ADR consumed as a volatility filter for setups.
Combine with support/resistance to identify exhaustion zones.
⚙️ Customization
Lookback length for ADR calculation.
Progress bar size and color.
Optional toggle to plot ADR in its own panel.
Previous High/Low Range (D,W,M,Q)Previous High/Low Range (D, W, M, Q)
This indicator displays the previous period’s high, low, and midpoint levels across multiple timeframes: Daily, Weekly, Monthly, and Quarterly. It extends these key price levels into the future, allowing traders to quickly identify important support and resistance zones based on historical price action.
Features:
Shows previous Daily, Weekly, Monthly, and Quarterly highs, lows, and midpoints.
Optionally extends these levels forward for easy visualization.
Configurable colors and visibility for each timeframe.
Includes optional midpoint lines at 50% between high and low to identify equilibrium points.
Supports logarithmic scale calculations for midpoints to maintain accuracy on log charts.
Optional labels that display exact price values for each level.
Designed to help traders recognize key levels for entries, exits, and risk management.
Use this indicator to gain a multi-timeframe perspective on significant price ranges and anticipate potential reversal or breakout zones.
Renko Open Range delta
Delta Renko-Style Indicator Guide (NQ Focus)
This indicator takes inspiration from the Renko Chart concept and is optimized for the RTH session (New York time zone), specifically applied to the Nasdaq futures (NQ) product.
If you’re unfamiliar with Renko charts, it may help to review their basics first, as this indicator borrows their clean, block-based perspective to simplify price interpretation.
⸻
🔧 How the Indicator Works
• At market open (9:30 AM EST), the indicator plots a horizontal open price line, referred to as 0 delta.
• From this anchor, it plots 10 incremental levels (deltas) both above and below the open, each spaced by 62.5 NQ points.
Why 62.5?
• With NQ currently trading in the 23,000–24,000 range, a 62.5-point move represents roughly 0.26% of the daily average range.
• This makes each delta step significant enough to capture movement while filtering out smaller noise.
A mini table (location adjustable) displays:
• Current delta zone
• Last touched delta level
This gives you a quick snapshot of where price sits relative to the open.
⸻
📈 How to Read the Market
• At the open, price typically oscillates between 0 and +1 / -1 delta.
• A break beyond this zone often signals stronger directional intent:
• Trending day: price can push into +2, +3, +4, +5 (or the inverse for downside).
• Range day: expect price to bounce between +1, 0, -1 deltas.
⚠️ Note: This is a visualization tool, not a trading system. Its purpose is to help you quickly recognize range vs. trend conditions.
⸻
📊 Example
• In this case, NQ reached +1 delta shortly after open.
• A retest of 0 delta followed, and price later surged to +5/+6 deltas (helped by Fed news).
⸻
🛠️ Practical Uses
This indicator can help you:
• Define profit targets
• Place hard stop levels
• Gauge whether a counter-trend trade is worth the risk
⚠️ Caution: Avoid counter-trend trades if price is aggressively pushing toward +5/+6 or -5/-6 deltas, as trend exhaustion usually hasn’t set in yet.
⸻
🔄 Adapting for ES (S&P Futures)
• On NQ, 62.5 points ≈ $1,250 per contract.
• For ES, this translates to 25 points.
• Since 1 NQ contract ≈ 2 ES contracts in dollar terms, an optimized ES delta step would be 12.5 points.
You may also experiment with different delta values (e.g., 50 or 31.25 for NQ) to align with your risk profile and trading style.
⸻
🧪 Extending Beyond NQ
You can experiment with applying this indicator to ES or even stocks, but non-futures assets may require additional calibration and testing.
⸻
✅ Bottom line: This tool provides a clean, Renko-inspired framework for quickly gauging trend vs. range conditions, setting realistic profit targets, and avoiding poor counter-trend setups.
Major Lows OscillatorDescription
The Major Lows Oscillator is a custom technical indicator designed to identify significant low-price areas by normalizing the current closing price relative to recent lowest lows and highest highs. The oscillator calculates a normalized price percentage over a configurable lookback period, applies exponential moving averages for smoothing, and inverts the result to highlight potential market bottoms.
Calculation Details
Lowest Low Lookback : Finds the lowest low over a user-defined period (default 100 bars).
Highest High Lookback : Calculates the highest high over a short period (default 1 bar), providing a dynamic normalization range.
Normalization : Normalizes the current close within the range defined by the lowest low and highest high, scaled to 0-100.
Smoothing : Applies a 10-period EMA, inversion, and weighted smoothing combining the last valid value and current oscillator reading.
Final Output : Applies a final EMA (period 1) and inverts the oscillator (100 - value) to emphasize major lows.
Features
Customizable midline level for signal alerts (default 50).
Visual midline reference line.
Alerts trigger on oscillator crossing below midline for automated monitoring.
Usage
Useful for complementing existing setups or integration in algorithmic trading strategies.
Changing the input parameters opens new ways to leverage the asymmetric range concept, allowing adaptation to different market regimes and enhancing the oscillator’s sensitivity and utility.
Examples of input combinations and their potential purposes include:
Extremely Asymmetric Setting: Lowest Low Lookback = 200, Highest High Lookback = 1
Focuses on deep long-term lows contrasted with immediate highs, ideal for spotting strong oversold levels within an otherwise bullish short-term momentum.
Symmetric Lookbacks: Lowest Low Lookback = Highest High Lookback = 50
Balances the range equally, creating a normalized oscillator that treats recent lows and highs with the same weight — useful for markets with balanced volatility.
Short but Equal Lookbacks: Lowest Low Lookback = Highest High Lookback = 10
Highly sensitive to recent price swings, this setting can detect rapid shifts and is suited for intraday or very short-term trading.
Inverted Extreme: Lowest Low Lookback = 1, Highest High Lookback = 100
Highlights very recent lows against a long-term high range, possibly signaling quick dips in a generally overextended market.
Inputs
Midline Level : Threshold for alerts (default 50).
Lowest Low Lookback Period : Bars evaluated for lowest low (default 100).
Highest High Lookback Period : Bars evaluated for highest high (default 1).
Alerts
Configured to trigger once per bar close when the oscillator crosses below the midline level.
---
Disclaimer
This indicator is for educational and analytical use only.
Dr. Fib - FGBAB - Open Range Breakout for Stocks V1.0This Open Range Breakout Indicator (ORB) helps your discretionary trading when looking for breakouts on the 15 mins range.
This indicator helps your discretionary trading by allowing visual settings that helps discretionary trades to make faster decisions.
It will provide you will the following on-screen information:
- ORB HIGH and LOW: The Open Range Breakout set by the input parameters, for example the first 15 mins RTH Open from 9:30 to 6:45.-
- ORB MID: The ORB mid point for reference, generally the price tends to return and bounce from the 50% ORB.
Reward to Risk posible targets for LONG and SHORT trades: This will provide target value references, it is based on the ORB Risk from high to low, you have 1:1, 2:1, 3:1 and 4:1 possible targets in both directions.
Reference table:
The reference table is a visual setting for you to have at first sight important information before considering getting into the trade:
- ORB HIGH and LOW.
- Risk in points.
- Risk in USD.
- Amount of shares considering the MaxRisk input parameter you select.
- The current LIVE R:R based on the entry, if price is abobe ORB High it will simulate a LONG position is price is below the ORB Low it will simulate a SHORT position,
- The LIVE profit simulation based on the above.
- MaxRunUP, the highest equity the trade simulation has produced.
Direction: The current trade direction simulation based on the ORB HIGH or ORB LOW.
Keep in mind this indicator is a "gauge" a visual help for discretionary traders that like to trade Open Range Breakout strategy.
It will reset the ORB at RTH Close and build a new ORB at next calendar day based in the ORB time you have selected by the input parameters.
Please feel free to use in your own trading at your discretion.