Opening Candle Zone with ATR Bands by nkCharts

This indicator highlights the opening range of each trading session and projects dynamic ATR-based zones around it.

Key Features

• Plots high and low levels of the opening candle for each new daily session.
  
• Extends these levels across the session, providing clear intraday support and resistance zones.
  
• Adds ATR-based offset bands above and below the opening range for volatility-adjusted levels.
  
• Customizable colors, ATR length, and multiplier for flexible use across markets and timeframes.
  
• Adjustable session history limit to control how many past levels remain on the chart.
  

How to Use:

• The opening range high/low often acts as strong intraday support or resistance.
  
• The ATR bands give an adaptive volatility buffer, useful for breakout or mean-reversion strategies.
  
• Works on any market with clear session opens.
  

This tool is designed for traders who want to combine session-based price action with volatility insights, helping identify potential breakouts, reversals, or consolidation areas throughout the day.

⚠️ Disclaimer: This indicator is for educational purposes only. It does not provide financial advice or guarantee profits. Always perform your own analysis before making trading decisions.