FirstBarRange study displays lines for the high and low of the first bar/candle of the trading day, along with shaded areas for the range on top of the first bar high and below the first bar low.
This study is very useful for intraday traders to see when stocks trade above the first bar high, it shows strength, and many times the high of the first bar is also good support.
On the contrary, below the first bar high tends to be good area of weakness and many times it becomes a good resistance level.
Many times when the stock trades inside the first bar range, price will be choppy and range bound.
@pgodel,
Hello- I hope your saturday is going well.
I was wondering if it is possible for you to tweak this code?
I was using another Opening Range Bar indicator that works, but yours is very good and i prefer it now.
However, I find with tradingview that futures charts sometimes dont line up correctly with indicators, and your study plots the opening range 1 hour past the cash open. It does not seem there is a way to manually change this...
Coding is very new to me, and i can tweak some code to my liking, but i think this is over my head.
Here is the other indicator that i was using that works correctly with futures... maybe there are some helpful lines in there? --> tradingview.com/script/j96rBWfD-ORB-Indicator/ Thanks for your consideration with this.
Peace!