Standard Deviation Bands & Inner Levels
Opening Range Pro extends the opening range framework with two additional level systems: standard deviation expansion bands for profit targets beyond the range, and inner division levels for precision entries within the range. Together, they transform the opening range box into a complete session-level trading grid.
Standard Deviation Expansion Bands
After the defining range period ends, Opening Range Pro projects expansion levels at 0.5, 1.0, 1.5, and 2.0 standard deviations above and below the OR center. The standard deviation is calculated from the full wick-based range (OR High minus OR Low).
SD Level Reference
| Level | Above OR | Below OR | What It Represents |
|---|---|---|---|
| ±0.5 SD | First expansion | First expansion | Minor extension — first partial target or confirmation threshold |
| ±1.0 SD | Typical move | Typical move | Average session expansion — primary profit target zone |
| ±1.5 SD | Strong move | Strong move | Above-average expansion — consider trailing stops |
| ±2.0 SD | Extended move | Extended move | Extreme expansion — mean reversion becomes likely, pullback probable |
Each SD level is labeled on the chart (e.g., "+1.0", "-0.5") and extends for the duration of the session.
Trading with SD Bands
After an OR breakout, the SD bands provide objective profit targets based on the session's own volatility — not arbitrary round numbers or fixed-pip distances.
- Conservative targets: Take profit at the ±1.0 SD level for typical session moves
- Extended targets: Hold for ±1.5 or ±2.0 SD when momentum is strong and Trend Bars Pro Dynamic Trend confirms direction
- Mean reversion: When price reaches ±2.0 SD, expect a pullback — consider taking profit or tightening stops
Settings: Toggle (off by default), Color (gray), Line Style (Dotted default), Width
Inner Division Levels
Opening Range Pro subdivides the body-based range into 9 equally spaced levels, creating a micro support and resistance grid within the opening range. These levels appear at 10% increments from the body high to body low.
Inner Level Grid
| Level | Position | Use Case |
|---|---|---|
| 0.1, 0.2 | Near body high | Resistance within range, partial target for shorts |
| 0.3, 0.4 | Above midpoint | Intermediate resistance, pullback entry zone |
| 0.5 | Midpoint | Primary equilibrium — mean reversion target |
| 0.6, 0.7 | Below midpoint | Intermediate support, pullback entry zone |
| 0.8, 0.9 | Near body low | Support within range, partial target for longs |
Trading with Inner Levels
Inner levels are most useful when:
- Price stays inside the OR — trade bounces between inner levels for range-bound scalping
- Price retests the OR after a failed breakout — use the midpoint (0.5) as a mean reversion target
- Identifying entry zones within the range — the quarter-points (0.25, 0.75 approximated by 0.3/0.7) provide natural pullback entry levels
Settings: Toggle (off by default), Color (gray), Line Style (Dotted default), Width
Use inner levels for entries within the range and SD bands for profit targets after breakouts. This gives Opening Range Pro a complete intraday framework — micro levels inside the range and macro levels outside it.
FAQ
What do the standard deviation bands show in Opening Range Pro?
Opening Range Pro projects expansion levels at 0.5, 1.0, 1.5, and 2.0 standard deviations above and below the opening range center. The standard deviation is calculated from the full wick-based range (OR High to OR Low). These bands quantify how far price typically moves during a session — the 1.0 SD level represents a typical session move while the 2.0 SD level represents an extended move where mean reversion becomes likely.
What are inner division levels in Opening Range Pro?
Opening Range Pro subdivides the body-based range into 9 equally spaced levels, creating a micro support and resistance grid within the opening range itself. The levels appear at 10% increments from 0.1 to 0.9 of the range. The 50% level (0.5) marks the equilibrium midpoint and serves as the primary mean reversion target when price retests the range.
When should I enable standard deviation bands vs inner levels?
Enable standard deviation bands when trading OR breakouts — they provide statistically grounded profit targets beyond the range. Enable inner levels when price is trading inside the opening range or retesting it after a failed breakout — they provide precision support and resistance for scalping and mean reversion entries within the range. Both features can be active simultaneously.