Opening Range every N Minutes For ThinkOrSwim

[korygill]

This study displays an Opening Range (OR) on a chart every N minutes. It can be configured to display only during trading hours, or all hours. The code has only been tested on 3-day 1-minute charts for 30 and 60 minute OR bars. The full usefulness of this study is unknown and is left to the user. There are many times during the day where an Opening Range can provide insight into market action, and perhaps this will help users discover these.

thinkScript Code

# Orbit
#
# Description
# Draws the Opening Range (OR) for each recurring time period.
# Suggested use on 3d/1m chart with 30 min or 60 min ranges.
#
# Author: Kory Gill, @korygill
#
# Comment out unnecessary portions to preserve TOS memory and enhance speed
#

input timeOffsetFromEST = -300; #hint timeOffsetFromEST: 24-hour time offset from EST (-300 for PST)

input frequencyInMinutes = 60; #hint frequencyInMinutes: 30 mins or 60 mins recommended

input showAllMarketHours = no; #hint showAllMarketHours: if yes, all hours highlighted, not just market hours

# Common variables. Using variables reduces calls to TOS iData server.

# iData Definitions
def vHigh = high;
#def initHigh =  CompoundValue(1, high, high);  # creates an initialized variable for high
def vLow = low;
#def initLow = CompoundValue(1, low, low);
#def vOpen = open;
#def initOpen = CompoundValue(1, open, open);
#def vClose = close;
#def initClose = CompoundValue(1, close, close);
#def vVolume = volume;
#def initVolume = CompoundValue(1, volume, volume);
def nan = Double.NaN;

# Bar Time & Date  
#def bn = BarNumber();
#def currentBar = HighestAll(if !IsNaN(vHigh) then bn else nan);
#def Today = GetDay() ==GetLastDay();
#def time = GetTime();
#def GlobeX = GetTime() < RegularTradingStart(GetYYYYMMDD()); 
#def globeX_v2 = if time crosses below RegularTradingEnd(GetYYYYMMDD()) then bn else GlobeX[1];
#def RTS  = RegularTradingStart(GetYYYYMMDD());
#def RTE  = RegularTradingEnd(GetYYYYMMDD());
#def RTH = GetTime() > RegularTradingStart(GetYYYYMMDD());
#def RTH_v2 = if time crosses above RegularTradingStart(GetYYYYMMDD()) then bn else RTH[1];

# Bars that start and end the sessions
#def rthStartBar    = CompoundValue(1, 
#                         if   !IsNaN(vClose) 
#                         &&   time crosses above RegularTradingStart(GetYYYYMMDD())
#                         then bn 
#                         else rthStartBar[1], 0);
#def rthEndBar      = CompoundValue(1, 
#                         if   !IsNaN(vClose) 
#                         &&   time crosses above RegularTradingEnd(GetYYYYMMDD())
#                         then bn 
#                         else rthEndBar[1], 1);
#def globexStartBar = CompoundValue(1,
#                         if   !IsNaN(vClose)
#                         &&   time crosses below RegularTradingEnd(GetYYYYMMDD())
#                         then bn 
#                         else globexStartBar[1], 1);
#def rthSession = if bn crosses above rthStartBar #+ barsExtendedBeyondSession
#                    then 1 
#                    else if   bn crosses above rthEndBar #+ barsExtendedBeyondSession 
#                         then 0 
#                    else rthSession[1];

#
# Settings for well-known symbols
#
def startTime;
def endOfTradingTime;

if (GetSymbol() == "/ES:XCME" or GetSymbol() == "/MES:XCME") {
    startTime = 0630 - timeOffsetFromEST;
    endOfTradingTime = 1315 - timeOffsetFromEST;
}
else if (GetSymbol() == "/NQ:XCME" or GetSymbol() == "/MNQ:XCME") {
    startTime = 0630 - timeOffsetFromEST;
    endOfTradingTime = 1315 - timeOffsetFromEST;
}
else if (GetSymbol() == "/YM:XCBT" or GetSymbol() == "/MYM:XCBT") {
    startTime = 0630 - timeOffsetFromEST;
    endOfTradingTime = 1315 - timeOffsetFromEST;
}
else if (GetSymbol() == "/RTY:XCME" or GetSymbol() == "/M2K:XCME") {
    startTime = 0630 - timeOffsetFromEST;
    endOfTradingTime = 1315 - timeOffsetFromEST;
}
else if (GetSymbol() == "/CL:XNYM") {
    startTime = 0600 - timeOffsetFromEST;
    endOfTradingTime = 1130 - timeOffsetFromEST;
}
else if (GetSymbol() == "/QM:XNYM") {
    startTime = 0600 - timeOffsetFromEST;
    endOfTradingTime = 1130 - timeOffsetFromEST;
}
else if (GetSymbol() == "/GC:XCEC") {
    startTime = 0520 - timeOffsetFromEST;
    endOfTradingTime = 1030 - timeOffsetFromEST;
}
else if (GetSymbol() == "/SI:XCEC") {
    startTime = 0525 - timeOffsetFromEST;
    endOfTradingTime = 1025 - timeOffsetFromEST;
}
else if (GetSymbol() == "/6J:XCME") {
    startTime = 0520 - timeOffsetFromEST;
    # there is a bug somewhere using 1200 I saw once.
    # if you have issues, use 1159 below.
    endOfTradingTime = 1200 - timeOffsetFromEST;
}
else {
    # have to have an else...guess
    startTime = 0630 - timeOffsetFromEST;
    endOfTradingTime = 1315 - timeOffsetFromEST;
}

def modMinutes = (SecondsFromTime(startTime) % (frequencyInMinutes*60)) / 60;
#plot cm = modMinutes;

def showBar =  modMinutes != (frequencyInMinutes - 1) and  modMinutes != -1;
#plot sb = showBar;

def orbitActive = if showAllMarketHours or
                    (SecondsTillTime(endOfTradingTime) > 0 and
                     SecondsFromTime(startTime) >= 0)
                         then 1
                         else 0;

def orbitHigh = if orbitActive and modMinutes == 0
                then vHigh
                else orbitHigh[1];

def orbitLow = if orbitActive and modMinutes == 0
                then vLow
                else orbitLow[1];

plot pOrbitHigh = if orbitActive and showBar and orbitHigh != 0 then orbitHigh else nan;
plot pOrbitLow = if orbitActive and showBar and orbitLow != 0 then orbitLow else nan;

pOrbitHigh.SetDefaultColor(Color.WHITE);
pOrbitLow.SetDefaultColor(Color.WHITE);

#def orbitWidth = orbitHigh - orbitLow;
#plot pOrbitWidth = if orbitActive and showBar and orbitWidth != 0 then orbitWidth else nan;
#pOrbitWidth.Hide();

AddCloud(pOrbitHigh, pOrbitLow, Color.WHITE);

Shareable Link

https://tos.mx/TKC4oP

 

[futures252]

Hi, I've been trying to modify your script to redraw the lines whenever price passes either the high or the low instead of having it redraw every n minutes. I wasn't able to do so, wondering if you can help?

thanks

 

[SimpleStock]

Would it be possible to change this script to display first 5 minute range every half hour on a 1 minute chart?

 

[SleepyZ]

Would it be possible to change this script to display first 5 minute range every half hour on a 1 minute chart?

See if this is what you want. You can change the interval at input minutes and the range at input range.

input show_buy_sell_bubbles = yes;
input begin = 0930;
input end   = 1600;
def bar = if SecondsFromTime(begin) < 0 and SecondsTillTime(end) > 0
          then 0
          else if SecondsTillTime(begin) == 0 and
                  SecondsFromTime(begin) == 0
          then 0
          else bar[1] + 1;
input minutes = 30;
def barx_min  = bar % ((minutes) / (GetAggregationPeriod() / 60000)) == 0;
def barxct    = if barx_min then 1 else barxct[1] + 1;

input range  = 5;
def today    = SecondsFromTime(begin) >= 0 and SecondsFromTime(end) <= 0;
def ORActive = if SecondsFromTime(begin) < 0 and SecondsTillTime(end) > 0 then 0 else if Between(barxct, 1, range) then 1 else 0;

rec ORHigh = if ORActive[1] == 0 and  ORActive == 1 then high else if ORActive and high > ORHigh[1] then high else ORHigh[1];
rec ORLow  = if ORActive[1] == 0 and ORActive == 1 then low else if ORActive and low < ORLow[1] then low else ORLow[1];

plot hrange = if !today or ORActive then Double.NaN else ORHigh;
plot lrange = if !today or ORActive then Double.NaN else ORLow;

input show_cloud = yes;
AddCloud(if show_cloud then hrange else Double.NaN, lrange, Color.LIGHT_GRAY);

input showverticalline = yes;
AddVerticalLine(showverticalline and today and barx_min, "", Color.BLUE, stroke = Curve.FIRM);

input debug = no;
plot x = if debug then ORActive else Double.NaN ;
x.SetPaintingStrategy(PaintingStrategy.VALUES_BELOW);

 

[SimpleStock]

See if this is what you want. You can change the interval at input minutes and the range at input range.

that's it.... thank you.
At the same time... is it possible to extend the previous range during ORActive? I added breakout indicator but it would be accurate when previous range is plotted during ORActive. I ultimately love to create a breakout system based on this indicator, at least for testing and see results.

Sorry... Don't know how to add image to this but I had marked it on one chart.

 

[SleepyZ]

that's it.... thank you.
At the same time... is it possible to extend the previous range during ORActive? I added breakout indicator but it would be accurate when previous range is plotted during ORActive. I ultimately love to create a breakout system based on this indicator, at least for testing and see results.

Sorry... Don't know how to add image to this but I had marked it on one chart.

Just noticed your request for extended lines from the previous range.

input show_buy_sell_bubbles = yes;
input begin = 0930;
input end   = 1600;
def bar = if SecondsFromTime(begin) < 0 and SecondsTillTime(end) > 0
          then 0
          else if SecondsTillTime(begin) == 0 and
                  SecondsFromTime(begin) == 0
          then 0
          else bar[1] + 1;
input minutes = 30;
def barx_min  = bar % ((minutes) / (GetAggregationPeriod() / 60000)) == 0;
def barxct    = if barx_min then 1 else barxct[1] + 1;

input range  = 5;
def today    = SecondsFromTime(begin) >= 0 and SecondsFromTime(end) <= 0;
def ORActive = if SecondsFromTime(begin) < 0 and SecondsTillTime(end) > 0 then 0 else if Between(barxct, 1, range) then 1 else 0;

rec ORHigh = if ORActive[1] == 0 and  ORActive == 1 then high else if ORActive and high > ORHigh[1] then high else ORHigh[1];
rec ORLow  = if ORActive[1] == 0 and ORActive == 1 then low else if ORActive and low < ORLow[1] then low else ORLow[1];

plot hrange = if !today or ORActive then Double.NaN else ORHigh;
plot lrange = if !today or ORActive then Double.NaN else ORLow;

def orhigh1  = if barxct == 1 then hrange[1] else orhigh1[1];
def orlow1   = if barxct == 1 then lrange[1] else orlow1[1];

plot hrange1 = orhigh1;
plot lrange1 = orlow1;

hrange1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
lrange1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
hrange1.SetDefaultColor(Color.CYAN);
lrange1.SetDefaultColor(Color.YELLOW);

input show_cloud = yes;
AddCloud(if show_cloud then hrange else Double.NaN, lrange, Color.LIGHT_GRAY);

input showverticalline = yes;
AddVerticalLine(showverticalline and today and barx_min, "", Color.BLUE, stroke = Curve.FIRM);

input debug = no;
plot x = if debug then ORActive else Double.NaN ;
x.SetPaintingStrategy(PaintingStrategy.VALUES_BELOW);