The Opening Range is a crucial 30-to-60-minute window where market algorithms establish significant price levels. ICT theory suggests this initial time interval forms the foundational basis for the session's daily price movement. This indicator is a comprehensive toolkit designed to visualize key price levels based on Inner Circle Trader's (ICT) "Opening Range" and "1st Trading Hour" (2026 MS) concepts. By establishing a time-based reference range, the algorithm highlights critical structural boundaries, premium/discount zones, and forward-looking standard deviation projections to assist in tracking algorithmic delivery. It serves as a visual framework to align price action with key killzones, track initial displacement, and frame external liquidity targets.
2. Logic
The script mathematically isolates the high, low, and opening price of a predefined session. Once the initial session closes, it establishes the Opening Range.
2.1. Internal Range Subdivisions: The established range is divided into a midpoint (Consequent Encroachment), Quadrants (25%, 75%), and Octants (12.5% increments). These subdivisions act as precise premium and discount reference points where price frequently reacts.
2.2. Price Projections: Beyond the initial Opening Range, the indicator projects standard deviation multiples (e.g., 0.5, 1.0, 1.5). These symmetric extensions identify potential external targets resulting from algorithmic displacement.
2.3. Dynamic Target Plotting: To maintain a clean chart, standard deviations can be plotted dynamically. A new projection level only appears once the price pushes and crosses the previous extreme limit.
2.4. Smart Bracketing Algorithm: The visual brackets framing the range utilize a dynamic Gap calculation factoring in the asset's 14-period ATR and specific Bar Range. This intelligent rendering ensures wicks never obscure the bracket lines, adapting flawlessly to highly volatile markets like Crypto.
3. Settings & Options
3.1. Session Options
Pre-defined ICT Sessions: Midnight (00:00), London (01:30), NY AM KZ (07:00), NY AM (09:30), NY PM (13:30), Asia (20:00).
Custom Sessions: Three user-defined start/end time pairs.
1st Hour Extension: Incorporates the ICT TRU 15-04-2026 concept. If the first 30 minutes are in accumulation, the range can be extended to capture the 1st hour of trading.
3.2. Range Configuration
Opening Price: Toggle the opening price of the first 1-minute candle.
Use Swing Points: Option to frame the range boundaries strictly using structural swing highs/lows rather than absolute highest/lowest ticks.
Minimum Ticks Filter: Specify a minimum tick limit to filter out insignificant ranges. If a range is too small, levels are hidden to prevent chart clutter (while still retaining the opening price).
Standard Deviations Limit: Define the maximum standard deviation threshold (e.g., up to 10.0 in 0.5 increments).
Dynamic vs Fixed Levels: Choose whether extensions plot progressively as price displaces (Dynamic) or plot all at once symmetrically (Fixed).
Sub-Projections: Show CE, Quadrants, and Octants within the extended standard deviation zones.
3.4. Enhanced Range Bracket Management
ATR & Bar Range Components: Automatically scale the bracket's vertical gap based on recent volatility and immediate candle size.
Density Limits: Enforce max gap scaling logic and tick limits for particularly dense instruments to ensure perfect visual formatting across all assets.
3.5. Lines, Labels, and Tooltips
Extend Lines: Terminate lines at the session end, extend up to the next session, extend through RTH/ETH limits, or run continuously to the current bar.
Custom Labels: Select text alignment (Left, Center, Right), size, formatting (Bold, Italic), and value displays (Fraction, Decimal, Percentage, Price).
Hover Tooltips: A comprehensive tooltip system that displays Session Name, Range Size, Date, Time, Price, and precise calculated levels simply by hovering over the labels.