Opening Range Levels
Opening Range Pro projects six distinct price references from each session's defining range period. These levels divide into two categories: wick-based levels (OR High/Low) that show the full price exploration range, and body-based levels (IOR High/Low, Open, Close) that show where price was accepted. Understanding this distinction is essential for precise stop placement and level identification.
The Opening Range Box
The Opening Range Pro box appears as a semi-transparent overlay during the defining range period of each session. The box boundaries correspond to the body-based high and low — the IOR levels. This box represents the session's initial equilibrium zone where institutional participants established their early positions.
Defining Range Periods
| Session | Defining Range | Timezone |
|---|---|---|
| Asia | 09:30 – 10:30 | Tokyo (JST) |
| London | 08:00 – 09:00 | London (GMT) |
| New York | 09:30 – 10:30 | New York (ET) |
Opening Range Pro uses timezone-aware detection to identify the defining range regardless of your chart's timezone setting.
Six Key Levels
OR High / OR Low (Wick-Based)
OR High and OR Low represent the full exploration range during the defining period — including wick rejections. These are the outermost levels and define the boundaries for session bias. A break above OR High establishes bullish session bias. A break below OR Low establishes bearish bias.
Settings: Toggle, Color (gray default), Line Style (Solid/Dashed/Dotted), Width
IOR High / IOR Low (Body-Based)
IOR (Initial Opening Range) High and Low represent the body-based extremes — where price was accepted during the defining period, excluding wicks. The IOR is always tighter than the OR. When the IOR is much tighter than the OR, it suggests the defining period had strong rejections (large wicks) but narrow accepted value — a sign of directional conviction.
Settings: Toggle, Color (red default), Line Style (Dashed default), Width
OR Open
The opening price of the defining range period. Opening Range Pro marks this as a green line by default. The Open line serves as a directional reference within the OR itself — price trading above the Open within the range suggests bullish pressure, below suggests bearish.
Settings: Toggle, Color (green default), Line Style (Solid default), Width
OR Close
The closing price of the defining range period. Opening Range Pro marks this with a red line (disabled by default). The Close line shows where price settled at the end of the defining period — useful as a mean reversion target when price returns to the range.
Settings: Toggle (off by default), Color (red default), Line Style (Dotted default), Width
Level Extension
After the defining range period ends, all enabled levels extend horizontally across the remainder of the session. Opening Range Pro draws these lines from the defining range box to the session end, creating a complete session-specific support and resistance framework.
FAQ
What is the difference between OR High/Low and IOR High/Low in Opening Range Pro?
Opening Range Pro tracks two range measurements simultaneously. OR High/Low uses wick-based extremes — the full high and low including rejected prices during the defining period. IOR High/Low uses body-based extremes — the open/close boundaries representing accepted value. The IOR is always tighter than the OR because it excludes wick rejections. OR levels define the full exploration range while IOR levels mark where price was actually accepted.
What does the Opening Range Pro box represent on the chart?
The Opening Range Pro box is a semi-transparent overlay that spans the defining range period of each session. The box's upper and lower boundaries correspond to the body-based high and low (IOR levels). The box provides a visual reference for the session's initial equilibrium zone — where institutional participants established their early positions.
Can I customize the appearance of Opening Range Pro levels?
Yes, every level in Opening Range Pro has independent visual controls. OR High/Low, IOR High/Low, OR Open, and OR Close each have separate toggle, color, line style (Solid/Dashed/Dotted), and line width settings. This lets you emphasize the levels most relevant to your trading style while dimming or hiding others.