Plots the opening range (default: 1hr) for a user-defined duration of time during regular trading hours.
Displays opening range midpoint and option to annotate Fibonacci retracements (as well as today’s opening range only, if so desired). Also includes average opening range metrics, comparing the current opening range to opening ranges across the entire visible chart.
The statistics study plots current-vs-historical average opening range below the price chart for easy reference and comparison to prior days’ opening ranges.
Includes ‘Visual Backtesting’ — long, short and flat signal colors based on price's position above opening range high (green), below opening range low (red) or in between (gray). Use this to quickly and easily identify whether an Opening Range High/Low break strategy would be viable for the equity you’re analyzing currently.
All colors are completely customizable.