Opening Range Indicator  [SOLVED]

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olobay
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Opening Range Indicator

Postby olobay » 14 Sep 2012

I was wondering if anybody had an indicator that plotted the high of a certain range of time intraday as well as the low. This indicator would plot 2 horizontal lines, one at the high the other at the low from the price action between 9:30am-10:00am. Does anybody have anything like this indicator? I don't believe it would be very complicated but my coding skills are nil. Thanks.

KhaosTrader
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Re: Opening Range Indicator

Postby KhaosTrader » 14 Sep 2012

Assuming you are trading 5 min chart...

On your five min chart, also put in a 30 min chart, but hide the price bars on the 30 min instrument. Then you can use easylanguage time function to determine if the current bar is finishing at 10am, if it is you draw a trendline from the high and low of that bar, and u extended it to the end of the day.

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JoshM
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Re: Opening Range Indicator  [SOLVED]

Postby JoshM » 22 Sep 2012

olobay wrote:I was wondering if anybody had an indicator that plotted the high of a certain range of time intraday as well as the low. This indicator would plot 2 horizontal lines, one at the high the other at the low from the price action between 9:30am-10:00am. Does anybody have anything like this indicator? I don't believe it would be very complicated but my coding skills are nil. Thanks.

It's not very complicated. See the attached openings range indicator for an example; this indicator plots lines for the openingsrange plus text boxes with the high, low, and midpoint value.
Attachments
openingsRangeIndicator.txt
(4.55 KiB) Downloaded 645 times
openingsRangeIndicator.pla
(13.05 KiB) Downloaded 514 times

BC_Trading
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Re: Opening Range Indicator

Postby BC_Trading » 08 Dec 2016

Hi Guys,

did someone tried a opening range breakout based on volume generated bars? For Example the ES with a avg daily volume around 2 million contracts. I created a chart in Multicharts with 5000 Contract Bars and used the first 4 bars of the trading session as my opening range. On the first sight this looks promising. Is it possible to code an Indicator based on the volume instead of time?

Greetings

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ABC
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Re: Opening Range Indicator

Postby ABC » 08 Dec 2016

BC_Trading,

in case of volume bars you can simply count a number of bars for your opening range. This will likely be simpler than using the volume directly.

Regards,

ABC

BC_Trading
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Re: Opening Range Indicator

Postby BC_Trading » 08 Dec 2016

@ABC Sometimes it`s so easy ;-)


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