Opening Range

Opening range is a period of time that is observant by many traders as a part of their technical analysis. The reason why so many traders have this as a part of their trading plan is the information contained in that period, which is very important as regards the market sentiment and potential trend for the day.

Usually, the opening range represents the first hour after the market is open. During this period of time, the volume is high, and often at least one of the limits of the opening range is also High/ Low of the day.

In their technical analysis, some traders are checking another 2 sessions. These sessions are pre-market and overnight.

During the pre-market session, the traders typically watch the market movements in order to monitor the market sentiment in anticipation of the regular trading session.

Another session checked by some traders in their technical analysis, is the overnight session. During this session, the market sentiment is the same as it was during market close if there were no significant news events.

The Opening Range Indicator monitors this period of time and it provides you the high and low of it plus other features, as an extension line calculated based on the limits of this period.

Besides, the Opening Range Indicator has another 2 periods that can be observed:

• Pre-session
• Overnight session