middle of the first five-minute candle: Early S/R Line For ThinkOrSwim

[BillW]

I've found some good S/R for NQ, ES, YM and 2K.
This script adapted from @SleepyZ https://usethinkscript.com/threads/high-low-range-within-specified-time.11836/post-113321 It plots support and resistance (S/R) levels starting from the beginning of the stock pre-market session (8:00 AM), through the first 5-minute candle and its midpoint. Extending these S/R lines from previous days can sometimes offer insights into potential levels for the current trading day. I’ve also added horizontal lines marking the regular trading hours (RTH) open and close from @korygill My reasoning is that pre-market activity in individual stocks can provide more reliable S/R levels than the opening range breakout (ORB) method typically used for selected indexes.

https://tos.mx/!kr0BVEMk

#Plots Hide and Low from 8:AM to 925:AM Globex (using 9.25 to close of candle at 9:30
#Adapted from SleepyZ https://usethinkscript.com/threads/high-low-range-within-specified-time.11836/post-113321
#Can be effective opening range for RTH S/R trading futures on 5 minute time frame.
#works with different time frames that start on the half hour such as 1, 5, 15 and 30.

def range  = SecondsFromTime(800) >= 0 and SecondsTillTime(930) >= 0;
def hrange = if range[1] == 0 and range
             then high
             else if range
             then Max(high, hrange[1])
             else hrange[1];
def lrange = if range[1] == 0 and range
             then low
             else if range
             then Min(low, lrange[1])
             else lrange[1];

input showplot = yes;
plot xhrange = if !showplot  then Double.NaN else hrange;
plot lhrange = if !showplot  then Double.NaN else lrange;

xhrange.SetDefaultColor(GetColor(1));
lhrange.SetDefaultColor(GetColor(5));

xhrange.SetStyle(curve.short_DASH);
lhrange.SetStyle(curve.short_DASH);

def is935 = SecondsFromTime(0930) == 0;
def isRTH = SecondsFromTime(0925) >= 0 and SecondsTillTime(1600) >= 0;

def midpoint = if is935 and isRTH then (high + low) / 2 else midpoint[1];

plot MidLine = if isRTH then midpoint else Double.NaN;
MidLine.SetDefaultColor(Color.yellow);
MidLine.SetStyle(Curve.short_Dash);

Horizontal Open

#
# PlotTimeOfDay
#
# Author: Kory Gill, @korygill
#
declare upper;
declare once_per_bar;

input TimeOfDayEST = 930; # 24 hour time EST
input IntervalMinutes = 1440; #hint IntervalMinutes: 12hr==720, 6hr==360
input Data = open;

def bn = BarNumber();
def nan = double.NaN;

def sft = SecondsFromTime(TimeOfDayEST);

def tt = if bn == 1
         then nan
         else if IsNaN(Data)
         then tt[1]
         else if sft % (IntervalMinutes*60) == 0
         then Data
         else tt[1];


plot TimeTracker = tt;
TimeTracker.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
TimeTracker.SetDefaultColor(CreateColor(125, 125, 75));

TimeTracker.SetLineWeight(1);
TimeTracker.hidebubble();

Horizontal Close

#
# PlotTimeOfDay
#
# Author: Kory Gill, @korygill
#
declare upper;
declare once_per_bar;

input TimeOfDayEST = 1615; # 24 hour time EST
input IntervalMinutes = 1440; #hint IntervalMinutes: 12hr==720, 6hr==360
input Data = open;

def bn = BarNumber();
def nan = double.NaN;

def sft = SecondsFromTime(TimeOfDayEST);

def tt = if bn == 1
         then nan
         else if IsNaN(Data)
         then tt[1]
         else if sft % (IntervalMinutes*60) == 0
         then Data
         else tt[1];


plot TimeTracker = tt;
TimeTracker.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
TimeTracker.SetDefaultColor(CreateColor(50, 160, 255));

TimeTracker.SetLineWeight(1);

timetracker.hidebubble();

 

[Thinker]

I've found some good S/R for NQ, ES, YM and 2K.
This script adapted from @SleepyZ https://usethinkscript.com/threads/high-low-range-within-specified-time.11836/post-113321 It plots support and resistance (S/R) levels starting from the beginning of the stock pre-market session (8:00 AM), through the first 5-minute candle and its midpoint. Extending these S/R lines from previous days can sometimes offer insights into potential levels for the current trading day. I’ve also added horizontal lines marking the regular trading hours (RTH) open and close from @korygill My reasoning is that pre-market activity in individual stocks can provide more reliable S/R levels than the opening range breakout (ORB) method typically used for selected indexes.

https://tos.mx/!kr0BVEMk

View attachment 25813

#Plots Hide and Low from 8:AM to 925:AM Globex (using 9.25 to close of candle at 9:30
#Adapted from SleepyZ https://usethinkscript.com/threads/high-low-range-within-specified-time.11836/post-113321
#Can be effective opening range for RTH S/R trading futures on 5 minute time frame.
#works with different time frames that start on the half hour such as 1, 5, 15 and 30.

def range  = SecondsFromTime(800) >= 0 and SecondsTillTime(930) >= 0;
def hrange = if range[1] == 0 and range
             then high
             else if range
             then Max(high, hrange[1])
             else hrange[1];
def lrange = if range[1] == 0 and range
             then low
             else if range
             then Min(low, lrange[1])
             else lrange[1];

input showplot = yes;
plot xhrange = if !showplot  then Double.NaN else hrange;
plot lhrange = if !showplot  then Double.NaN else lrange;

xhrange.SetDefaultColor(GetColor(1));
lhrange.SetDefaultColor(GetColor(5));

xhrange.SetStyle(curve.short_DASH);
lhrange.SetStyle(curve.short_DASH);

def is935 = SecondsFromTime(0930) == 0;
def isRTH = SecondsFromTime(0925) >= 0 and SecondsTillTime(1600) >= 0;

def midpoint = if is935 and isRTH then (high + low) / 2 else midpoint[1];

plot MidLine = if isRTH then midpoint else Double.NaN;
MidLine.SetDefaultColor(Color.yellow);
MidLine.SetStyle(Curve.short_Dash);

Horizontal Open

#
# PlotTimeOfDay
#
# Author: Kory Gill, @korygill
#
declare upper;
declare once_per_bar;

input TimeOfDayEST = 930; # 24 hour time EST
input IntervalMinutes = 1440; #hint IntervalMinutes: 12hr==720, 6hr==360
input Data = open;

def bn = BarNumber();
def nan = double.NaN;

def sft = SecondsFromTime(TimeOfDayEST);

def tt = if bn == 1
         then nan
         else if IsNaN(Data)
         then tt[1]
         else if sft % (IntervalMinutes*60) == 0
         then Data
         else tt[1];


plot TimeTracker = tt;
TimeTracker.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
TimeTracker.SetDefaultColor(CreateColor(125, 125, 75));

TimeTracker.SetLineWeight(1);
TimeTracker.hidebubble();

Horizontal Close

#
# PlotTimeOfDay
#
# Author: Kory Gill, @korygill
#
declare upper;
declare once_per_bar;

input TimeOfDayEST = 1615; # 24 hour time EST
input IntervalMinutes = 1440; #hint IntervalMinutes: 12hr==720, 6hr==360
input Data = open;

def bn = BarNumber();
def nan = double.NaN;

def sft = SecondsFromTime(TimeOfDayEST);

def tt = if bn == 1
         then nan
         else if IsNaN(Data)
         then tt[1]
         else if sft % (IntervalMinutes*60) == 0
         then Data
         else tt[1];


plot TimeTracker = tt;
TimeTracker.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
TimeTracker.SetDefaultColor(CreateColor(50, 160, 255));

TimeTracker.SetLineWeight(1);

timetracker.hidebubble();

Very interesting. Is there any way to create an indicator that provides a choice of the mid-point for the first 5 minutes, the first 15 minutes, the first 30 minutes, and the first hour. It's not necessary for one indicator to do all of that but rather to create an indicator that can be changed for the desired period of time to use as the beginning range.