20,200SMA,PDHL,15 minute ORB

The 20,200SMA,PDHL,15 minute ORB indicator provides a comprehensive multi-layered analysis framework by combining trend-following moving averages, key horizontal levels from previous sessions, and an opening range breakout system to identify high-probability trading zones.

Usage

The script is designed for intraday traders who rely on price action relative to dynamic and static levels. It can be used as follows:

• Trend Identification: Use the 200 SMA to determine the long-term trend bias and the 20-period High/Low SMAs to gauge immediate momentum. The color-coding (Green for bullish, Red for bearish) allows for instant visual confirmation of price relative to these averages.
• Support & Resistance: The previous day's High (PDH), Low (PDL), and Close (PDC) act as significant horizontal levels where price often reacts.
• Breakout Strategies: The 15-minute Opening Range identifies the first volatility window of the day. Traders look for sustained price action above or below these levels to determine the day's direction.
• Pivot Analysis: The Daily Central Pivot Range (CPR) helps in identifying the "fair value" of the current session and potential reversal or continuation points.

Details

The indicator integrates several classic technical analysis concepts into a single overlay:

• SMAs: The 20-period SMA on High and Low prices creates a "channel" or "envelope" effect for short-term trend following, while the 200-period SMA provides a standard institutional baseline.
• Opening Range: This is calculated from the first bar of the daily session (configured for a 15-minute context) to establish the initial balance.
• CPR (Central Pivot Range): Calculated using the Pivot, Bottom Central (BC), and Top Central (TC) formulas to provide a central focal point for price action.
• Multi-Timeframe Data: The tool utilizes request.security to fetch previous day data ensuring levels are accurate regardless of the intraday timeframe being used.

Settings

• SMA 20 High: Plots the 20-period moving average of bar highs.
• SMA 20 Low: Plots the 20-period moving average of bar lows.
• SMA 200 Close: Plots the 200-period moving average of bar closes.
• Previous Day Levels: Toggles visibility for the High, Low, and Close prices of the preceding session.
• Opening Range: Marks the high and low of the first 15 minutes of the trading day.
• Daily CPR: Displays the Pivot, BC, and TC lines for the current session.

FAQ

How can I use this for day trading? You can look for "confluence" where price breaks the 15-minute opening range while also being above the SMA 200 and the Daily CPR, suggesting a strong bullish trend.

What do the colors of the SMAs indicate? The SMAs change color based on the price relationship: Green indicates the close price is in a bullish position relative to that specific average, while Red indicates a bearish position.

How do I get access to 20,200SMA,PDHL,15 minute ORB? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.