Yes I think OR is very relevant, even in today’s markets. I use the OR every day across instruments I trade. I use the RTH as the start of the session.
I totally agree with what MTZimmer1 said.
Why are you defining the OR?
What is the purpose of it in your trading?
How do you plan on using this information to help you make better trading decisions? This is key.
Like Zimmer I use this information to help me determine what type of day we may have ahead of us. Are we likely to have a trend day or a balanced day. I also base a couple of my trades off the OR provided they set-up correctly and are in alignment with my higher time-frame narrative.
I personally do not believe the OR can be limited to a set time period, such as a 5, 15 or 30 minute bar or a set number of bars. I see the OR as a dynamic range that changes every day based on market condition, structure and context. For me the OR is either:
1. The first buying swing vs the first selling swing or
2. the first selling swing vs the first buying swing
Once the OR is set I watch to determine if there is two sided action or mono directional action.
This can be extremely useful in helping traders determine the potential of a trend day vs a balanced day.
Trend days often see an open drive off the open. Trend days are generally mono directional and never come back to test the open. Whereas on a balanced day we see two sided trade, hence trading on both sides of the OR.

If you plot the OR as described above you will soon see there are obvious trades that repeat on a regular basis. Develop these and you will see just how relevant the OR can be. Well worth the exercise $$$.

Thank you TopGunNote
Great indicator. MUCH appreciated !!!

Opening Range Levels
unknown

unknown

Oh, I see some updates on this thread, I was away for couple of months so I guess I missed them.

Thanks for sharing your indicator TopGunNote

I'll have a look and if its doable with my measly skills, will write one for TV. Thanks again^^

Ive found success on my trading journey when I started using the OR as a reference point for entries and risk management. The most important breakthrough I had was learning when to trade it and when to just leave it alone. I trade NQ and ES (depending on volatility). Like you I found the Toby Crabel ideas inspirational - look for higher timeframe patterns that suggest trading the ORB on the next day could deliver a good trend day.

AlphaBetaDelta 

Ive found success on my trading journey when I started using the OR as a reference point for entries and risk management. The most important breakthrough I had was learning when to trade it and when to just leave it alone. I trade NQ and ES (depending on volatility). Like you I found the Toby Crabel ideas inspirational - look for higher timeframe patterns that suggest trading the ORB on the next day could deliver a good trend day.

It's definitely a valid phenomenon, and a tool that every trader should consider keeping an eye on. I have initiated many trades based on the rejection or holding of the Opg. Of course, other decision tools should be considered in order offer confluence to the process which will help prevent false signals and whipsawing.

Absolutely. One of the confirmation tools that has helped me the most has been using daily bars as a bias - my favourite is when the prior day is an indecision day - i.e. the range is significantly larger the than the body of the daily bar and the close is towards the centre. Ive found the probability of a trend day, which can be caught with the ORB method, is far higher the day following an indecision day. Its by no means a certainty, but if the trades are structured with high risk/reward a trader only needs to get a few of these right to do pretty well.

Attached are some recent examples in NQ.

Next development for me is to properly test variants of these ideas systematically.

I recently backtested the idea of using an indecision day to filter a basic ORB system in ES.

Results were pretty good.

Here's a link to the original post.

Mechanical Trading Systems Breakout Autotrader (Sierra Chart) Ive been testing this tool over the past days and am really impressed. I have been testing an opening range breakout style strategy in ES. I first started with a nave strategy that trades the breakout of the 5 minute opening range on every day. It …

I would say after years of the OR being in use, it’s still a viable strategy. I do know some people who still use it and variations of and they’ve had some success.

Opening Ranges Are Always relevant but depends on your Anchoring like Asia opening, London Open or NY Open or Equities Open .... I either Trade the pre Market till the opening what I call the trade 2BStl. (to bank Settlements) or try to fade the High or the reversal of the Opening depending on my Analysis and sentiment for the Day and/or the Session itself what I call 5thE ( fifth Element) as it has to have confluence with many other factors, and I considered it like a very delicate and accurate Brain Surgery, All in All any Opening Range Old Schoolers used to call it Price Discovery, So during the Session and the Market traded if it was in a Gap most probably it will be filled soon enough, and most of the time it's a reference for an inside day or a chance to break on the outside or Fakeout a break then Sling Shot the other direction to go outside the range in a parabolic like PA movement ... I've watched and SIM traded these kinds of Trades but Still not that confident in My skills to properly execute my ideas on this Matter, but still I do try to implement them on my evaluation on ApexTraderFunding , am New to the Forum/Site/group .. So Thank you for reading and appreciate any interaction/ reaction/ replies/thanks as am not a paid supporter yet .. Ciao