The opening range or first 30 minutes of trading during the day sets the tone and becomes an important reference through the rest of the day. Price will react as it reaches the high and low of the opening range. Backtesting has shown that the strategies based on the opening range have merit and provide an edge in trading. By not being aware of these points of...
This script calculates and draws the initial balance price levels which can be really interesting for intraday activities. Note: Obviously, you need to wait for the calculation period to finish in order to see your daily levels The tool includes the following options Customization of the session used to calculate the initial balance (default 0930-1030) ...
Plots Historical key levels for volume profile idea. Plots the following: - Previous Day High - Previous Day Low - Previous Day Close - Previous Day IB High - Previous Day IB Low - Current Days IB High - Current Days IB Low IB is based on first hour of trading. Made specifically for ASX stocks, have not tested it on other exchanges or assets.
This script plots the high/low of any custom session and extends it until the daily close. It does not show on the timeframe higher than the length of custom opening session by default. The time period of opening range & the max timeframe to display it on can be adjusted from the settings. So for eg. if want to use 5m ORB to trade, then set "ORB total time"...