Plots the Opening Range for the First Hour for Stocks and Forex. Option to Plot the first 30 Minutes Opening Range, or Both. See first Post for Specifics.
Current Version:
-Plots High and Low of Opening Range for first Hour (default) for Stocks and Forex. Option to plot 30 minute Opening Range.
-For Stocks - Only uses Cash Session and Pre/Post market hours must be turned off. (Will fix in future update.
-For Forex - Only plots Opening Range of New york session opening at 5pm East Coast time. (Will add Europe, Asia, Australia session options in future release).
*** IntraDay Futures are coming soon and will adjust Opening range times for those sessions.
Known Issue: Transparent background isn’t plotting if you only choose the 30 minute Opening Range. Will be fixed soon in a future release.
Hi Chris, Is there anyway to update this for futures? I'm looking to plot the 9:30am -10:30am EST opening range for Emini S&P futures. Thanks
ZigaZaga
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Anxious to learn how many here are familiar with this instrument - and why it doesn't seem to get much attention. It trades round the clock and tracks the futures markets of the Dow 30, if I understand correctly. However, it's not the Far East but the Wall Street trading hours that are important in this market - it's when the real action happens - 9am-9:30am I believe. For me in London it's 2:30-9:00PM, which already can be confusing. Do you think I will ever be able to apply this code to track the wall street opening range, or would you propose a more suitable code for this issue? If ANYONE can shed any light on their experience trading this, please do so here or by PM.
ChrisMoody
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First why doesn't it seem to get much attention:
US residents can't trade it...unless they ca no pen up a trading account overseas with roughly a million dollars. Theres a few loopholes regarding creating a LLC (Business entity) and documenting you have a high net worth.
So this leaves us with people who live outside the United States who have a spot Forex Account...which is the majority of traders outside the US. The vast majority of those traders trade the Forex market exclusively. If they do trade (CFD's) I may have misspelled that...then the vast majority will trade the equivalent of the ES futures contract (S&P 500) vs. the Dow, or Spot Gold or Oil. Even in the US the Dow futures have pretty light volume...although there is plenty of volume to trade it.
How can you trade it:
The session can be customized to start plotting that indicator at the US open 9:30 New York time. Or you could simply use symbol DIA, the Dow 30 ETF on your chart...and if it breaks the opening range enter in the US30 you have access to. Th entries and exits should be 99.9% the same no matter which symbol you plot on the chart...Since the US30 is based on the DOW 30 if the prices were different their would be huge Arbitrage opportunities institutions would capitalize on...due to the liquidity those almost never exist. In my opinion the Dow futures trade "Cleaner" than the ES contract by far. One benefit of plotting the DIA symbol is you will be able to see gaps that the US30 won't show you. And you have to take Gaps in to account with the opening range trade....but that's a topic for another time....
sunsha83
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Can we have configure alert us when any of stock cross the Opening Range... Please advise and help us.
Mixoplix
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Hi Chris,
Hope your well and really enjoying your indicators. Extremely helpful! Is their a video or YouTube link on setting up your open range V1?
venkatsaicrypto
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Working for crypto...thank you sir
DaveBrascoFX
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I love it
hsbenterprises5
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Again your work like magic
Trassos
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Your solution to plot until the last bar is priceless. Also on a new day, once range time is archived you have to reload the page.
-Plots High and Low of Opening Range for first Hour (default) for Stocks and Forex. Option to plot 30 minute Opening Range.
-For Stocks - Only uses Cash Session and Pre/Post market hours must be turned off. (Will fix in future update.
-For Forex - Only plots Opening Range of New york session opening at 5pm East Coast time. (Will add Europe, Asia, Australia session options in future release).
*** IntraDay Futures are coming soon and will adjust Opening range times for those sessions.
Known Issue: Transparent background isn’t plotting if you only choose the 30 minute Opening Range. Will be fixed soon in a future release.
Video on how to import this Indicator:
blog.tradingview.com/?p=265
Link to Code for Indicator:
pastebin.com/ehNrkpCd