OPEN-SOURCE SCRIPT
Aggiornato X ORT
X ORT — Opening Range & Time Reference Tool
Overview
The X ORT indicator is a precision tool designed for intraday traders seeking to anchor their trading decisions to high-probability price levels. It captures key market reference points including Opening Ranges, Settlement Prices, and Time-Specific Opens, all based on New York time, to help identify potential pivots and directional bias in the market.
Key Features & Usage
🔹 Opening Range Boxes (ORs)
The indicator defines up to two customizable Opening Ranges (e.g., 9:30–9:59 and 8:20–8:49 ET). Each range dynamically tracks the high, low, and midpoint price as the session unfolds, and continues to extend those levels forward throughout the day.
Use as Pivots: The high and low of the Opening Range often act as intraday support and resistance zones. A breakout above the ORH (Opening Range High) may signal bullish intent, while a drop below the ORL (Opening Range Low) may suggest bearish momentum.
Use for Directional Bias: If price remains above or below the range after completion, it may indicate a continuation in that direction. The midpoint (dashed line) serves as a mean-reversion or fair value pivot.
🔸 Settlement Price Anchors
The indicator optionally plots Daily, Weekly, and Monthly Settlement Prices, which are significant institutional reference points.
Use as Market Anchors: Settlement prices are often used by professionals to gauge positioning. Price acceptance above or below settlement can signal strength or weakness and guide directional trades.
Historical weekly and monthly settlements help define multi-day or swing levels for broader context.
🔹 Time-Based Open Levels
X ORT also draws horizontal lines at the open price of specific time points: Midnight, 8:30 AM, 9:30 AM, and 1:30 PM ET.
Use for Session Anchors: These reference opens are useful for understanding session shifts, aligning with key economic releases (like 8:30 AM), and gauging session-to-session continuity.
Why Use X ORT?
Objective Structure: Provides rule-based levels to avoid emotional trading.
Visual Clarity: Transparent, extendable boxes and labeled lines help traders focus on key decision zones.
Multi-Time Context: Blends intraday and higher timeframe levels to support short-term and swing traders.
Whether you're breakout trading, fading range extremes, or gauging market bias, X ORT offers a reliable structural foundation that aligns with how professionals track price behavior throughout the trading day.
Overview
The X ORT indicator is a precision tool designed for intraday traders seeking to anchor their trading decisions to high-probability price levels. It captures key market reference points including Opening Ranges, Settlement Prices, and Time-Specific Opens, all based on New York time, to help identify potential pivots and directional bias in the market.
Key Features & Usage
🔹 Opening Range Boxes (ORs)
The indicator defines up to two customizable Opening Ranges (e.g., 9:30–9:59 and 8:20–8:49 ET). Each range dynamically tracks the high, low, and midpoint price as the session unfolds, and continues to extend those levels forward throughout the day.
Use as Pivots: The high and low of the Opening Range often act as intraday support and resistance zones. A breakout above the ORH (Opening Range High) may signal bullish intent, while a drop below the ORL (Opening Range Low) may suggest bearish momentum.
Use for Directional Bias: If price remains above or below the range after completion, it may indicate a continuation in that direction. The midpoint (dashed line) serves as a mean-reversion or fair value pivot.
🔸 Settlement Price Anchors
The indicator optionally plots Daily, Weekly, and Monthly Settlement Prices, which are significant institutional reference points.
Use as Market Anchors: Settlement prices are often used by professionals to gauge positioning. Price acceptance above or below settlement can signal strength or weakness and guide directional trades.
Historical weekly and monthly settlements help define multi-day or swing levels for broader context.
🔹 Time-Based Open Levels
X ORT also draws horizontal lines at the open price of specific time points: Midnight, 8:30 AM, 9:30 AM, and 1:30 PM ET.
Use for Session Anchors: These reference opens are useful for understanding session shifts, aligning with key economic releases (like 8:30 AM), and gauging session-to-session continuity.
Why Use X ORT?
Objective Structure: Provides rule-based levels to avoid emotional trading.
Visual Clarity: Transparent, extendable boxes and labeled lines help traders focus on key decision zones.
Multi-Time Context: Blends intraday and higher timeframe levels to support short-term and swing traders.
Whether you're breakout trading, fading range extremes, or gauging market bias, X ORT offers a reliable structural foundation that aligns with how professionals track price behavior throughout the trading day.
Note di rilascio
control over time line colorNote di rilascio
clean upNote di rilascio
one more clean upScript open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.