colejustice

Opening Range Fibonaccis

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This indicator uses the concept of the "Opening Range" to create a Fibonacci zone from the high and low set during a specific time period after open (Defaults to 9:30 - 10:05 AM, EST)

The Opening Range is a popular tool for intraday technical analysis . Price frequently uses these levels as support/resistance , and a breakout from within the range can be a sign of further movement.

The Fibonacci levels are set such that the opening range high/low fall on the +/-0.5 fib. This creates an "extended range" outside of the opening range that may be useful during breakouts.
Catatan Pelepasan:
  • Reordered plot drawing and increased the default size of the opening range high/low circles to improve readability.
Catatan Pelepasan:
  • Added a "Fibonacci Scale" input option to improve customization. Default value of 1.0 matches the current settings.
Catatan Pelepasan:
  • Added an optional "Afternoon Range" option. When on, this sets a new range based on the high/low set during the period of 1:30pm to 2:05pm EST (or custom time period).
Catatan Pelepasan:
  • Added a "Plot For Today Only" toggle that hides ranges on previous days on intraday charts.
Catatan Pelepasan:
  • Added a timezone selection to input options to make customizing for different markets easier.
Catatan Pelepasan:
  • Added a toggle to display price labels for each Fibonacci level - "Show Price Labels" at the bottom of the input settings.
Catatan Pelepasan:
  • Updated the default time periods for calculating ranges.
Catatan Pelepasan:
  • Fixed problem where price labels wouldn't advance with new bars.
Catatan Pelepasan:
  • Added the option to base the opening range plots on 1 minute candles regardless of chart resolution. Useful for short periods, such as the opening minute.
  • Fixed bug where toggling fib levels off still showed the fill.

Thanks for using my indicators; I hope they make you money! Check out the website link for more, and thanks for your support!
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