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Opening Range Indicator - small glitch
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Opening Range Indicator - small glitch

  #21 (permalink)
Elite Member
Cleveland, OH
 
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@Fat_Tails,

What I really would like is a way to mark the end of the range. Is it possible to add a vertical plot (at 12:00 PM in my example), along with the various style options?

Regards,
Sean Mills
What kind of bear has no teeth? A GUMMY BEAR.
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  #22 (permalink)
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grantwood View Post
@Fat_Tails,

What I really would like is a way to mark the end of the range. Is it possible to add a vertical plot (at 12:00 PM in my example), along with the various style options?

Everything is possible. This feature would require a modification of the custom plot. Not quick to do though.

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  #23 (permalink)
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Fat Tails View Post
Everything is possible. This feature would require a modification of the custom plot. Not quick to do though.

Thanks for considering this feature.

Regards,
Sean Mills
What kind of bear has no teeth? A GUMMY BEAR.
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  #24 (permalink)
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grantwood View Post
Thanks for considering this feature.

For the time being this is too much work.

If you use the indicator with real-time data, the opening range will show gray when it is incomplete, and then change to the blue color when it is complete. Both colors - the color for the developing range and the color for the completed range - are user selectable. After the range is complete it will not change colors any more.

The same feature applies to the pre-session range. It will also use the developing color while incomplete and then switch to its final color when complete.

You can test this feature when scrolling your chart horizontally.

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  #25 (permalink)
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Fat Tails View Post
For the time being this is too much work.

If you use the indicator with real-time data, the opening range will show gray when it is incomplete, and then change to the blue color when it is complete. Both colors - the color for the developing range and the color for the completed range - are user selectable. After the range is complete it will not change colors any more.

The same feature applies to the pre-session range. It will also use the developing color while incomplete and then switch to its final color when complete.

You can test this feature when scrolling your chart horizontally.

is there a way to have it color the cloud as well like the high/low OR lines for when its developing?

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
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  #26 (permalink)
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madLyfe View Post
is there a way to have it color the cloud as well like the high/low OR lines for when its developing?

Same answer: Can be done, but requires modification of custom plot. If I make that change someone will ask me to color the pre-session range. After a while somebody else would like to have the pre-session range colored in the developing color. Shortly afterwards some person would like to extend the opening range into the overnight session of the next trading day. Then somebody would like to have a different opening range start time on Wednesdays to take into account the EIA inventory report for crude oil, but have an earlier opening range on Fridays to start right after the major news releases. This would make it necessary to add more vertical lines, because there would be a different opening range every day. To make the indicator more useful, we would then need to add Toby Crabel's stretch to the high and subtract it from the low. To trade the opening range breakout, someone would like to know how it relates to yesterday's close and whether yesterday's close was in the lower or upper half of the daily range. As the chart is now clustered with lines, there is a need to add some buttons to toggle on and off the various features....

Many of these enhancements would be indeed useful, and I do not lack suggestions how to improve the various indicators and strategies. But it somewhat exceeds the time that I have available to produce free code.

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  #27 (permalink)
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Fat Tails View Post
Many of these enhancements would be indeed useful, and I do not lack suggestions how to improve the various indicators and strategies. But it somewhat exceeds the time that I have available to produce free code.

No problem. I can simply place a vertical line on the chart at 12:00PM.

Regards,
Sean Mills
What kind of bear has no teeth? A GUMMY BEAR.
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  #28 (permalink)
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Fat Tails View Post
Same answer: Can be done, but requires modification of custom plot. If I make that change someone will ask me to color the pre-session range. After a while somebody else would like to have the pre-session range colored in the developing color. Shortly afterwards some person would like to extend the opening range into the overnight session of the next trading day. Then somebody would like to have a different opening range start time on Wednesdays to take into account the EIA inventory report for crude oil, but have an earlier opening range on Fridays to start right after the major news releases. This would make it necessary to add more vertical lines, because there would be a different opening range every day. To make the indicator more useful, we would then need to add Toby Crabel's stretch to the high and subtract it from the low. To trade the opening range breakout, someone would like to know how it relates to yesterday's close and whether yesterday's close was in the lower or upper half of the daily range. As the chart is now clustered with lines, there is a need to add some buttons to toggle on and off the various features....

Many of these enhancements would be indeed useful, and I do not lack suggestions how to improve the various indicators and strategies. But it somewhat exceeds the time that I have available to produce free code.

a simple no would have done just fine.


dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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