The indicator displays the opening range and the current open of the RTH session.
You can only use this indicator with an appropriate session template. The opening time will align itself to the start time of the RTH session, as specified via indicator settings. The hybrid setting assumes that you want to use the 3rd intraday session as RTH session for FOREX and currency futures and the second session for all other instruments.
Example ES: Select a session template with the following sessions: Session 1 (night session) 15:30 - 8:30 Central Time, Session 2 (RTH) 8:30 - 15:15 Central Time. Select second session for opening range.
Select length of opening period: The opening period can be selected via indicator dialogue box.
Select Offset: With an offset of 00:00, the indicator aligns to the start of the selected session. If you enter a positive value for the offset, the opening range will be shifted forward from the session start. For example if you open a chart for ES with the session template US CME Index Futures, then the session (and the trading day) starts at 5:00 PM Central Time. To display an opening range for the regular session, you need to enter an offset of 15:30, because the regular session starts 15 hours and 30 minutes after the start of the trading day.
Developing range: Prior to the completion of the opening range, the indicator plots the developing range in gray to show that the range is still incomplete.
Night Session or Pre-Session Range: This is different for each instrument and refers to the electronic session prior to the session selected for the opening range.
European Session Range: You can select start and end time of the European Session in CET (Central European Time). The European Session is pre-configured for the time between 8:00 AM and 1:00 PM CET.
Asian Session Range: You can select start and end time of the Asian Session in TST (Tokyo Standard Time). The Asian Session is pre-configured for the time between 9:00 AM and 3:00 PM TST.
Update Jan 23, 2011: The indicator now plots all developping ranges in gray to show that the range is still unstable. Price markers are correctly formatted for US interest rate futures and FOREX.
Update May 17, 2011: New signature for GetNextBeginEnd() implemented. Backcolor for opening range added.
Update May 24, 2011: Old signature for GetNextBeginEnd() reintroduced within Plot() Override after problems, new signature maintained for OnBarUpdate(). Some minor enhancements added.
Update June 11, 2011: Small bug removed, indicator did not display opening range and pre-session range correctly during the training period (first bars of the chart, after scrolling to the left horizontally).
Update June 21, 2011: The indicator now works with half-pip FOREX feeds. Indicator dialogue box improved.
Update July 25, 2011: Serialization of the plots and indicator dialogue box changed.
Update January 24, 2012: Offset added, opening period no longer needs to be aligned to session start.
Update February 8, 2012: Option added to cut off the opening range at the next session break.
Update February 15, 2012: Bug removed, the cut-off option did not work, when an offset was selected as well.
Update October 6, 2013: Minor bug removed, offset was not applied correctly on tick charts, when indicator was set to COBC = false.
Update October 20, 2013: Drop down property added for European and Asian Time Zone
Update December 8, 2013: Indicator partly recoded and custom plot added.
July 17th, 2016 12:46 AM 1973Hog I want to show the 5 min OR for the Regular session US (08.30 CT start), but when I input the 15:30 Offset the OR disapp
ears entirely.
It is most likely something I am doing wrong, but I cannot figure out what. Any suggestions would be most gratefully app
reciated.
December 9th, 2013 11:56 PM john2000 THANK YOU!
December 7th, 2013 05:13 AM GILAZ THANK YOU
November 20th, 2013 12:43 PM MSE1 Another amazing comprehensive tool from FT. Thanks so much.
November 6th, 2013 10:29 AM SodyTexas Great Work, thank you for sharing!
April 5th, 2022 07:28 AM ScootersRoofing Can this indi plot the 30 sec OR - I have this setup on SC without issue and I'm looking to move to NT
June 18th, 2017 09:34 AM kiro Thanks Harry,
as always top performance!
March 15th, 2017 12:55 AM Vedant Sincerely appreciate your generous work...
March 7th, 2017 08:30 PM romus Many thanks
June 1st, 2016 09:40 PM 1973Hog Thanks for the Indicator. However, try as I might, I cannot figure out how to make the Opening Range start at 09:30 ET.
I tried using the Offset as you suggested, but the OR disappears with anything other than + 00:00. I am sure it is somet
hing I am doing wrong but I cannot figure it out. Your help would be most gratefully appreciated.