ORB with Fib Levels - Tradingbrock

3 сент.

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.

3 сент.

Информация о релизе

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.

4 сент.

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.