pjsOpeningRange – An opening range indicator for Ninjatrader 8
I was just looking for one of these, but alas, I could not find one freely available so I coded my own. I am sharing here as it appears this is something that is not easily locatable freely elsewhere. Hopefully someone else will find it useful.
Really simple! Put it on a chart and it’ll plot a line for the high and low of the opening range for a time period you specify in the settings. Example below
Range extensions (optional & customisable)
Custom colours, line thickness, type
Optional shading of OR in desired colour
Custom label prefix for custom sessions (optional)
Works on any time frame (including non time based charts)
Here are the settings. You can change the time period the indicator marks the high and low for, so it is customisable for any time range you wish. The examples are 1430 hrs and 1433 hrs, so a 3 minute opening range. Time format is hhmmss. You can add multiple copies of the indicator if you want several different time periods. Below, it is configured for 3 minutes (and GMT). You will have to configure to your local time.
So there you go.
What do you think? Have any ideas? Let me know in the comments section below.
You might like to take a look at some of my other Ninjatrader bits and pieces.
2019.05.22 Minor change to prevent the indicator going to sleep if you minimise the chart or have it on a hidden tab. In these cases, it could prevent the indicator logging the opening range and continuing to update.
2019.04.29 Changed behaviour to rely on computer clock during realtime operation. This is because time resolution on bars longer than the opening range period will not work well because of the way Ninjatrader time stamps bars. This would only effect time based bars, not tick or range bars. The opening range data is stored for future retrieval on historical charts, if desired. This avoids the performance penalty if having to turn on tick reply.
2019.04.23 Fixed minor bug where custom colours were possibly not being saved. No other changes.
2019.04.18 Added new options to show price labels and a colour of your choice to shade the initial range area, if desired.
2019.04.17 Line colour, thickness, and dash-style (dash, solid, dot, etc.) are now user definable in the indicator settings.
2019.04.07 I have updated the indicator. New features include, better logic, range extensions (or Fibs), a Midpoint, better labels, and an option to add a custom label prefix. This is because I now use the indicator, with it’s custom start/end times and label with multiple instances to track the open range of other markets on the same chart.
New screenshots below
If you are using the indicator in real-time, you will get accurate, to the tick, ranges. If you are using this historically (without tick replay turned on), the reported range will be limited to the high/low of the bar (which is actually how some people use it). I am however working on a solution where the indicator writes the values detected in real-time and restores them, if you re-load the chart for any reason. If and when done, the update will be posted here (I do not recommend you use tick replay)
New downloads coming SOON
As usual, let me know below if any issues and I will try to resolve, time permitting.
If you download it, and like it, please do me a favour and give it a little like above so I know. Thanks!
This tool, per most of my tools is free for non-commercial use (I define that as a ‘private’ investor with your own funds), but if you find it useful and wish to donate beer money, you can do so Via Bitcoin or PayPal. Any amount (no matter how small) will give you a warm fuzzy feeling and help me keep the power on. Be fair, just donate what you think is right. Thank you.
Bitcoin to 1PsQP6ECsevKRck4NPNJ3ZLnGaSJLxNyUT
PayPal to pjs DOT guernsey AT gmail DOT com
Commercial arrangements and custom versions are available if you wish to re-distribute or use for commercial purposes. Please do not redistribute this, but feel free to link to it here.
At the very least, if you liked this or found it useful, please let me know in the comments section below or give it a like/share above. Thanks!
Email me via the web site if you want to get in touch.