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.
- Reordered plot drawing and increased the default size of the opening range high/low circles to improve readability.
- Added a "Fibonacci Scale" input option to improve customization. Default value of 1.0 matches the current settings.
- 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).
- Added a "Plot For Today Only" toggle that hides ranges on previous days on intraday charts.
- Added a timezone selection to input options to make customizing for different markets easier.
- Added a toggle to display price labels for each Fibonacci level - "Show Price Labels" at the bottom of the input settings.
- Updated the default time periods for calculating ranges.
- Fixed problem where price labels wouldn't advance with new bars.
- 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.
- Fixed bug with Zone Fill setting not working properly.
- Added 'Show Fib Value Labels" option. This and Show Price Labels can be used independently or together.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.