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Обновлено ORB with Fib Levels - Tradingbrock

Opening Range (OR) Indicator Overview
This TradingView indicator analyzes and displays the Opening Range - a popular day trading concept that tracks price movement during the first 30-60 minutes of the trading session.
Core Functionality:
Opening Range Detection: By default, it monitors the 9:30-10:00 AM ET period and tracks the highest high and lowest low during this time frame, creating upper and lower boundaries.
Fibonacci Retracement Levels: Inside the opening range, it displays five key Fibonacci levels:
0.236 (23.6% - shallow retracement)
0.382 (38.2% - standard retracement)
0.500 (50% - halfway point)
0.618 (61.8% - golden ratio)
0.786 (78.6% - deep retracement)
Extension Levels: The indicator projects additional levels beyond the opening range:
1x extension above/below the range
2x extension levels that only appear when price breaks the first extension
Trading Applications:
Support & Resistance: The opening range high/low often act as key levels throughout the trading day
Breakout Trading: Many traders watch for price to break above or below the opening range
Mean Reversion: The Fibonacci levels within the range can serve as potential reversal points
Risk Management: Helps define clear levels for stop losses and profit targets
The indicator essentially gives traders a framework to understand how price is behaving relative to the early session's established range, which often sets the tone for the entire trading day.
This TradingView indicator analyzes and displays the Opening Range - a popular day trading concept that tracks price movement during the first 30-60 minutes of the trading session.
Core Functionality:
Opening Range Detection: By default, it monitors the 9:30-10:00 AM ET period and tracks the highest high and lowest low during this time frame, creating upper and lower boundaries.
Fibonacci Retracement Levels: Inside the opening range, it displays five key Fibonacci levels:
0.236 (23.6% - shallow retracement)
0.382 (38.2% - standard retracement)
0.500 (50% - halfway point)
0.618 (61.8% - golden ratio)
0.786 (78.6% - deep retracement)
Extension Levels: The indicator projects additional levels beyond the opening range:
1x extension above/below the range
2x extension levels that only appear when price breaks the first extension
Trading Applications:
Support & Resistance: The opening range high/low often act as key levels throughout the trading day
Breakout Trading: Many traders watch for price to break above or below the opening range
Mean Reversion: The Fibonacci levels within the range can serve as potential reversal points
Risk Management: Helps define clear levels for stop losses and profit targets
The indicator essentially gives traders a framework to understand how price is behaving relative to the early session's established range, which often sets the tone for the entire trading day.
Информация о релизе
Opening Range (OR) Indicator OverviewThis TradingView indicator analyzes and displays the Opening Range - a popular day trading concept that tracks price movement during the first 30-60 minutes of the trading session.
Core Functionality:
Opening Range Detection: By default, it monitors the 9:30-10:00 AM ET period and tracks the highest high and lowest low during this time frame, creating upper and lower boundaries.
Fibonacci Retracement Levels: Inside the opening range, it displays five key Fibonacci levels:
0.236 (23.6% - shallow retracement)
0.382 (38.2% - standard retracement)
0.500 (50% - halfway point)
0.618 (61.8% - golden ratio)
0.786 (78.6% - deep retracement)
Extension Levels: The indicator projects additional levels beyond the opening range:
1x extension above/below the range
2x extension levels that only appear when price breaks the first extension
Trading Applications:
Support & Resistance: The opening range high/low often act as key levels throughout the trading day
Breakout Trading: Many traders watch for price to break above or below the opening range
Mean Reversion: The Fibonacci levels within the range can serve as potential reversal points
Risk Management: Helps define clear levels for stop losses and profit targets
The indicator essentially gives traders a framework to understand how price is behaving relative to the early session's established range, which often sets the tone for the entire trading day.
Информация о релизе
This is a comprehensive Opening Range (OR) Indicator for TradingView that tracks and visualizes price ranges during specific trading sessions, with Fibonacci retracement levels and percentage calculations. Here's what it does:Core Functionality
Opening Range Tracking:
Identifies and tracks the high and low prices during a defined opening range period (default: 9:30-10:00 AM ET)
Supports multiple session configurations including regular market hours, pre-market, and custom time ranges
Draws horizontal lines for the opening range high (maroon) and low (olive) that persist throughout the day
Fills the area between high and low with a semi-transparent gray background
Extension Levels
The indicator calculates and displays extension levels based on the opening range:
First Extension (1x): Projects the range size above the high and below the low (aqua lines)
Second Extension (2x): Appears dynamically when price breaks the first extension, showing the next target level
Fibonacci Retracement Levels
Displays five key Fibonacci levels within the opening range:
23.6% (lime)
38.2% (blue)
50.0% (yellow)
61.8% (orange)
78.6% (purple)
Each level can be individually toggled on/off and has customizable colors.
Labels and Information Display
Percentage Change Label: Shows the percentage difference between OR high and low
Fibonacci Level Labels: Displays the Fibonacci ratios (0.236, 0.382, 0.5, 0.618, 0.786) at their respective levels
All labels have individual show/hide toggles and customizable colors
Labels appear at the end of the opening range period
Additional Features
Center Line: Dashed white line showing the midpoint of the opening range (only appears if range > 25 points)
Previous Day's Range: Option to display the previous trading day's opening range levels (maroon/olive lines)
Multi-Session Support: Works with different market sessions including NYSE, pre-market, and international markets
Use Cases
This indicator is particularly useful for:
Opening Range Breakout (ORB) Trading: Identifying potential breakout trades when price moves beyond the opening range
Support/Resistance Levels: Using OR high/low and Fibonacci levels as intraday support/resistance
Range Extension Targets: Using the 1x and 2x extensions as profit targets
Volatility Assessment: The percentage label helps quickly assess the day's initial volatility
The indicator is designed for intraday trading, particularly for traders who use the opening range as a key reference point for their trading decisions throughout the session.
Скрипт с открытым кодом
В истинном духе TradingView автор этого скрипта опубликовал его с открытым исходным кодом, чтобы трейдеры могли понять, как он работает, и проверить на практике. Вы можете воспользоваться им бесплатно, но повторное использование этого кода в публикации регулируется Правилами поведения.
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.
Скрипт с открытым кодом
В истинном духе TradingView автор этого скрипта опубликовал его с открытым исходным кодом, чтобы трейдеры могли понять, как он работает, и проверить на практике. Вы можете воспользоваться им бесплатно, но повторное использование этого кода в публикации регулируется Правилами поведения.
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.