OS high, low

December 18th, 2012, 12:20 AM

does anyone know if there is an opening swing indicator? This is based on the high and low that travel through the priceat open.
thanks

December 18th, 2012, 06:47 AM

jngrim

does anyone know if there is an opening swing indicator? This is based on the high and low that travel through the priceat open.
thanks

I�m assuming that you are talking about the opening range. Check post 6683 if this is what you are looking for here:

Want your NinjaTrader indicator created, free?

@KySt

If you just need the first five minutes hi/lo, then the attached DDF (Directional Day Filter ) indicator may help. It draws hi/lo and midpoint of the first 5 minutes from a user set start time as well as hi/lo and close of the first hour. If you …

December 18th, 2012, 03:21 PM

No, I think he's talking about what some call "opening swing" -- it's not defined by time as is the exchange's opening range (not what you referenced, usually very small and based on pit trading), or the "initial balance" in MP speak.

For the OP, no I do not know of one, but as it is not clearly defined and is subjective, it would be best to do it yourself anyway wouldn't it?

December 19th, 2012, 08:18 AM

It can be very difficult to define the OS. Even watching the VP masters take a swing at it they don't always agree on what the correct price should be. You kind of get the hang of it manually after a while but I don't honestly see a way to do it pragmatically because it can be so different from day to day.

December 19th, 2012, 08:49 PM

Thanks for the input. From what I understand its the first high and low that swing through opening price. Is that everyone else's understanding? It doesn't sound hard to code but then again I'm not an experienced programmer

December 19th, 2012, 08:54 PM

jngrim

Thanks for the input. From what I understand its the first high and low that swing through opening price. Is that everyone else's understanding? It doesn't sound hard to code but then again I'm not an experienced programmer

FT71 describes it as the place where buyers and sellers step in to take control. So today he had 44.25 as the OS high and 42.50 as OS Low. Some others had a different opinion that OS Low was 41.50.

Also, Opening swings are often confirmed later in the day with a retest.

OS high, low

Discussion in NinjaTrader

OS high, low