ZynIQ Opening Range Master

Opening Range Master draws the high, low and midpoint of the first minutes of a session (15 minutes from 09:30 New York by default), extends them to the session end with extension targets at multiples of the range, and marks breakouts, retests and failed breakouts on closed bars. A built-in Risk Helper draws the entry, stop and three targets for each breakout and marks every hit. Presets cover US stocks and index futures, the Globex overnight open, London, Frankfurt, Tokyo and the crypto UTC day, with daylight saving handled.

Highlights

• Any session, the right time zone. Pick a preset (New York 09:30, Globex 18:00, London 08:00, Frankfurt 09:00, Tokyo 09:00, Crypto 00:00 UTC) or a custom session in one of ten time zones. Times follow daylight saving, and the range is the same on regular-hours and extended-hours charts.
• Range length to suit you. 5, 15, 30 or 60 minutes, or any custom number of minutes. The range shows as a box that grows while it forms, then lines run to the session end.
• Extension targets. Dotted lines at 0.5x, 1x, 1.5x and 2x the range above and below (each adjustable or off).
• Optional Initial Balance. The first 60 minutes (adjustable), drawn separately as amber dashed lines.
• Breakouts that need a real close. A bar must close beyond the range by 0.1 ATR (adjustable). One signal per side per day by default, or the first breakout only, or every new break.
• Retests and failures. A circle when a retest of the broken edge holds; an amber cross when price closes back inside the range.
• Risk Helper. Entry, stop and three targets from the signal bar, in ATR (default), percent or points, with the stop optionally on the other side of the range or at the midpoint, and targets optionally in R. Hits are marked and alerted.
• Context in the HUD. Range size in price, as a multiple of the daily ATR(14) and of the average of the last 10 ranges, and the live status: forming, inside, broke up, broke down, failed.
• Honest by design. Every event is decided on a closed bar, the daily ATR is the last closed day’s, and nothing is drawn on daily or higher charts (the HUD explains).
• Alerts for range complete, breakouts, retests, failures, Initial Balance complete, TP1, TP2, TP3 and stop, with ticker, price and levels.

How it works

1. Session. The preset gives the opening time, the session end and the time zone. New York 09:30-16:00 (America/New_York); Globex 18:00-17:00 New York; London 08:00-16:30; Frankfurt 09:00-17:30 (Berlin); Tokyo 09:00-15:00; Crypto 00:00-00:00 UTC (24 hours). Custom uses your session and time zone.
2. The range. The session starts on the first bar at or after the opening time. Every bar that opens before the opening time plus the range length (15 minutes by default) is part of the range. The range is complete when its last bar closes. If your chart’s bars are longer than the range, the first bar is the range and the HUD says so. If there is no bar inside the range window (for example a 1 hour chart that has no bar at 09:30), there is no range that day and the HUD tells you to check the session, time zone or timeframe.
3. Levels. Range high (ORH), low (ORL) and midpoint (ORM) are drawn from the end of the range to the session end. Extension targets sit at the range high plus 0.5, 1, 1.5 and 2 times the range size, and at the range low minus the same.
4. Initial Balance (off by default). The high and low of the first 60 minutes, drawn from the open and extended to the session end once complete.
5. Breakout. After the range is complete and before the session end (or the “Last entry” time, if set), a closed bar that closes above the range high plus 0.1 x ATR(14) is a long breakout; below the range low minus 0.1 x ATR is a short breakout. By default each side can signal once a day. The first bar after a session gap of more than two bar lengths cannot signal (on by default).
6. Retest. After a long breakout, the first later bar whose low comes within 0.1 ATR of the range high (or below it) but which still closes above the range high is a retest that held. Short is the mirror.
7. Failure. After a long breakout, a bar that closes back below the range high is a failed breakout. Short is the mirror. With “Every new break”, a close back inside also re-arms that side for a new signal.
8. Risk Helper. Entry is the signal bar’s close. Default stop 1.0 x ATR(14), targets 1.0, 2.0 and 3.0 x ATR(14) (always three targets), all rounded to the tick. Each closed bar after the signal is checked against the bar’s high and low: if the stop and a target are both touched in the same bar, the stop counts first (the cautious reading). The ladder ends at the stop, at TP3, on a new signal, after 100 bars, or at the session end (on by default). With “Move stop to entry after TP1”, the stop moves to the entry once TP1 is hit (checked from the next bar). The current ladder and the 4 before it stay on the chart (“Keep past trades” 5).

What you see on the chart

• Box (cyan): the opening range, growing bar by bar while it forms.
• ORH line (teal, solid) and ORL line (fuchsia, solid): the range high and low, from the end of the range to the session end.
• ORM line (grey, dotted): the midpoint.
• Target lines (faint teal above, faint fuchsia below, dotted) labelled “+0.5x”, “+1x” and so on. Shown for today only by default.
• IBH / IBL (amber, dashed): the Initial Balance high and low, when switched on.
• “Long” / “Short” labels: breakout signals, under or over the bar.
• Circle on the range edge: a retest that held.
• Amber cross on the range edge: a failed breakout (closed back inside).
• Risk Helper: a dotted cyan entry line, a fuchsia stop line and three dashed teal target lines, with their prices at the right while the trade is open, and small “TP1 hit”, “TP2 hit”, “TP3 hit”, “SL hit” or “SL hit (at entry)” labels at the bar and level where they happened (these hit labels stay; the price tags are removed when the trade ends). With “Move stop to entry after TP1”, a new stop line starts at the entry from the TP1 bar. The stop is always fuchsia and the targets always teal, for longs and shorts alike.
• Previous days: the last 3 days’ boxes and lines stay on the chart (adjustable).
• HUD (top right by default):
  • Title: opening time, time zone and range length.
  • Range: high, low and midpoint.
  • Size: the range in price, as a multiple of the daily ATR(14) and of the average of the last 10 ranges (“avg so far” while forming).
  • Status: waiting for the open / forming / inside / above or below, no signal yet / broke up (retested) / broke down (retested) / failed up / failed down / session over / no range today.
  • Trade: Long or Short and Open, TP1 hit, TP2 hit, Stopped, Stopped after TP1, Stopped at entry or Done (with the reason).
  • Entry | SL, and TP1 | TP2 | TP3, to the tick.
  • Note: anything you should know, such as “Bars longer than the range” or “Intraday charts only”.
• Watermark: “ZynIQ Opening Range”, faint, bottom right.

Settings

Alerts

All alerts are decided on closed bars. Create them with “Once per bar close”.

For one alert with the full detail (range high and low, size against the average, entry, stop and targets), choose “Any alert() function call”.

Set it up for your market

How to use it

• Let the range form. Don’t trade inside it; the HUD says “forming” until its last bar closes.
• Read the size first. The HUD compares today’s range with the daily ATR and with recent ranges, so you can see at a glance whether today’s open is unusually quiet or unusually wide, and how much of a typical day’s movement the range has already used.
• A breakout signal is a place to look, not an order. The retest circle and the failure cross tell you how the break is holding up.
• Choose a stop that fits the range: “Other side of the range” is wide and conservative, “Range midpoint” is tighter, the ATR distance ignores the range. With range stops, turn on “Targets as multiples of the stop distance (R)”.
• Common mistakes: using a 1 hour chart (no bar at 09:30, so no range), leaving the preset on New York for a London forex session, and reading the target lines as predictions (they are distances, not forecasts).
• Pairs well with ZynIQ VWAP Master (is the break above or below VWAP?), ZynIQ Volume Surge (is volume behind the break?) and ZynIQ Session Master.

Good to know

• Intraday charts only. On daily and higher charts nothing is drawn and the HUD says so. Your bars must start at the opening time: 1 to 30 minute charts suit most sessions.
• Everything is decided when a bar closes, so a breakout never appears and then disappears. On history every bar is closed, so history matches live.
• The daily ATR in the HUD is the last closed day’s value. On futures a “day” is the Globex session, starting 18:00 New York.
• The Risk Helper checks highs and lows of closed bars. It cannot know the order of prices inside a bar, so a bar that touches both the stop and a target counts as stopped.
• The Risk Helper measures distances only. It is not a recommendation and shows no results or statistics.
• A day with no bar in the range window (a holiday, a late data start, a timeframe that skips the open) has no range; the HUD tells you.
• Drawing limits: the script keeps today plus 3 previous days and the last 5 trades, deleting the oldest first, well inside TradingView’s limits.
• Free TradingView plans limit how many indicators you can add to a chart.