ICT Opening Range Projections

The ICT Opening Range Projections indicator visualizes key price levels based on ICT's 30-minute Opening Range concept, providing automated calculations for institutional session boundaries and their mathematical extensions.

Usage

The indicator frames specific time windows to establish algorithmic reference points for the trading day. Users can observe how price interacts with the opening price, range boundaries, and internal subdivisions to gauge market sentiment and potential targets.

Examples of usage include:

• Identifying Institutional Frameworks: Using the predefined sessions like NY Midnight (00:00-00:30 ET) or NY AM (09:30-10:00 ET) to set the day's structural boundaries.
• Targeting via Projections: Utilizing standard deviation extensions to find potential exhaustion or expansion targets beyond the initial range.
• Internal Range Analysis: Monitoring price action around the Consequent Encroachment (50% midpoint) and quadrants (25%/75%) to identify premium and discount zones within the opening window.
• Dynamic Level Scaling: Enabling "Dynamic Levels" to only show the next projection level once price reaches the current extreme, keeping the chart clean during trending environments.

Details

The Opening Range is a 30-minute interval where market algorithms often establish price levels that serve as anchors for the session. This tool captures the high and low of these intervals and applies standard deviation calculations to project future support and resistance zones.

The indicator supports an optional "Swing-based" mode, which uses local swing points within the 30-minute window rather than absolute highs/lows for range definition. Additionally, it features a minimum tick filter to handle "small ranges"; if a range is too narrow (e.g., during low volatility), the indicator can be configured to only show the opening price or highlight the range in a different color to signify it may lack algorithmic significance.

Settings

Opening Range Sessions

• Session Toggles (Midnight, London, NY AM, etc.): Enable or disable specific pre-defined ICT time windows.
• Custom Sessions: Three additional fields to define user-specific start and end times for range calculation.
• Number of Previous Sessions: Controls how many historical sessions remain visible on the chart.

Range & Subdivisions

• Use Swing Points: Toggles between using absolute highs/lows or swing points for the range calculation.
• Consequent Encroachment (C.E.): Enables the 50% midpoint line.
• Quadrants/Octants: Enables internal subdivisions of the range (25%, 75% and 12.5% increments).
• Minimum Ticks For Range: Filters out levels for ranges that do not meet a specific size requirement.

Projections

• Standard Deviations: Sets the fixed or maximum number of projections to display.
• Dynamic Levels: When enabled, projection levels appear sequentially as price hits previous levels.
• Projection Increment: Sets the mathematical step for extensions (e.g., 0.5, 1.0).

FAQ

How do I access the ICT Opening Range Projections? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Which timezone should my chart be set to? For accurate ICT concepts, your chart should be set to New York time (ET).

What is the best timeframe to use with this tool? The script is best used on a 1-minute chart for maximum precision, though it supports multi-timeframe analysis up to 15 minutes.

Legal Disclaimer

This indicator is provided for informational and educational purposes only. It is not financial advice. Trading involves substantial risk of loss. Always consult with a professional before making investment decisions.