OR Session Zones — Multi‑Session Opening Range Indicator

A high‑precision Opening Range indicator that detects session opens (NY, London, EU, Tokyo, Shanghai, Gold/Crude futures), draws dynamic OR high/low/mid zones, projects Fibonacci‑based targets, and paints a configurable shaded area for quick visual decisioning.

Key features

• Multi‑session detection: Native support for New York, London, EuroNext, Tokyo, Shanghai, Gold Futures, and Crude Futures opening bars using dedicated session indicators.

• Opening Range calculation: Computes OR High and OR Low from a configurable number of candles (RangeCandles) and records the session start time.

• Persistent chart overlays: Draws trendlines for OR High, OR Low, and OR Mid (50%) across the chart until a configurable extension time.

• Shaded zone: Filled rectangle between OR High and OR Low with configurable opacity and color per session for instant visual context.

• Fibonacci projections: Up to four R (resistance) and S (support) projection lines derived from the OR range with independent colors and adjustable opacity.

• Flexible visibility: Option to hide or render indexed (unique) object IDs to prevent collisions; supports both single persistent objects and per‑bar objects when Hide is toggled.

• Session color coding: Each session uses a distinct color scheme (e.g., DodgerBlue, LightYellow, Orange, OrangeRed) to make session origin immediately obvious.

How it helps traders

• Fast context: Instantly see where the market opened for a major session and understand early range structure without manual measurement.

• Decision triggers: Use OR breaks, midline rejections, and Fibonacci projections as entry/exit rules or stop placement anchors.

• Multi‑session strategy: Combine overlapping ORs (e.g., London + NY) to detect session confluence zones and higher‑probability trade areas.

• Risk management: Place stops behind OR stacks or use the mid‑50% as dynamic stop/take targets.

Usage scenarios and example rules

• Breakout entry: Buy on close above OR High with confirmation from volume or momentum; stop just below OR High (or OR Mid for tighter exits).

• Fade the open: Short near OR High with reversal confirmation if price fails to sustain above OR Mid and shows rapid pulling of bids.

• Session confluence trade: When London and NY ORs overlap, treat the overlap as a high‑confidence supply/demand zone and scale position size accordingly.

• Projection targets: Use R1/R2/R3/R4 as staggered take‑profit levels and S1..S4 symmetrically for downside targets.