OPEN-SOURCE SCRIPT
Opening Range Breakout with 2 Profit Targets.
Opening Range Breakout with 2 Profit Targets.
Updated Indicator now works on all Symbols with Many Different Session Options.
***Known PineScript Issue…While the Opening Range is being Formed the lines only adjust for that individual bar. Just reset Indicator after Opening Range Completes.
***All Times are Based on New York Time
Session Options Forex U.S. Banks Open (8:00), Gold U.S. Open (8:20), Oil U.S. Open (9:00), U.S. Cash Session - Stocks (9:30), NY Forex Open (17:00) , Europe Open (02:00), or if you choose Setting 0 the Session Runs from 00:00 to 00:00 (Midnight to Midnight).
***Ability to use 60 minute Opening Range, 30 minute, 15 minute, and many other options.
***However you can manually change the times in the Inputs Tab to adjust for any session you prefer. This is useful for Day Light Savings Adjustments. Also the default times work if your charts are set to EST Time. If you use A different time zone in your settings you need to Adjust the times in the inputs tab.
Initially Opening Range High and Low plot as Yellow Lines. If Price Goes Above Opening Range then Line Turns Green. If Price Goes Below Opening Range Line Turns Red.
By default the First Profit Target is 1/2 the Width of the Opening Range and the 2nd Profit Target is 1 Times the Opening Range. However these are Adjustable in the Inputs Tab.
By Default the Opening Range Length is 1 Hour. However, you can Change the Opening Range Length to 15 min, 30 min, 2 hours etc. in the Inputs Tab.
Plots a 1 Above or Below Candle when 1st Profit Target is Achieved, and a 2 when 2nd Profit Target is Achieved.
Updated Indicator now works on all Symbols with Many Different Session Options.
***Known PineScript Issue…While the Opening Range is being Formed the lines only adjust for that individual bar. Just reset Indicator after Opening Range Completes.
***All Times are Based on New York Time
Session Options Forex U.S. Banks Open (8:00), Gold U.S. Open (8:20), Oil U.S. Open (9:00), U.S. Cash Session - Stocks (9:30), NY Forex Open (17:00) , Europe Open (02:00), or if you choose Setting 0 the Session Runs from 00:00 to 00:00 (Midnight to Midnight).
***Ability to use 60 minute Opening Range, 30 minute, 15 minute, and many other options.
***However you can manually change the times in the Inputs Tab to adjust for any session you prefer. This is useful for Day Light Savings Adjustments. Also the default times work if your charts are set to EST Time. If you use A different time zone in your settings you need to Adjust the times in the inputs tab.
Initially Opening Range High and Low plot as Yellow Lines. If Price Goes Above Opening Range then Line Turns Green. If Price Goes Below Opening Range Line Turns Red.
By default the First Profit Target is 1/2 the Width of the Opening Range and the 2nd Profit Target is 1 Times the Opening Range. However these are Adjustable in the Inputs Tab.
By Default the Opening Range Length is 1 Hour. However, you can Change the Opening Range Length to 15 min, 30 min, 2 hours etc. in the Inputs Tab.
Plots a 1 Above or Below Candle when 1st Profit Target is Achieved, and a 2 when 2nd Profit Target is Achieved.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Coming Soon: ChrisMoodyTrading.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Coming Soon: ChrisMoodyTrading.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.