Monitoring Open Price Ranges Across Multiple Market Sessions

Summary

This ProRealTime indicator monitors the opening price range across Euronext, London, US, and Tokyo sessions, with an optional custom time window. On a one-minute chart, it tracks the range’s high and low during a configurable observation period, set to 15 minutes by default, and calculates the midpoint. The display uses colored bands and session labels to show the developing range and its subsequent status. Session switches and start and end times can be configured independently.

The tool is a visual monitor for an open-range approach; the document does not specify entry, exit, or position-sizing rules, nor does it provide backtest results. It operates on weekdays for the named exchanges and explicitly does not account for public holidays. Correct session times require attention to daylight-saving changes and local market schedules. The custom-hours option is presented as suitable for continuous markets, though the document gives no validation for any particular market or time zone.

Key ideas

• The indicator tracks opening-range highs and lows on one-minute data and displays their midpoint.
• The default observation window is 15 minutes and can be adjusted.
• Named sessions can be monitored independently, with a separate custom-hours option.
• The display uses colored bands and status markers to show the range and session state.
• The tool does not provide trading rules or performance evidence, and public holidays are not handled.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.