The window and what it leaves
The shaded range with its profile on the left, levels projected right, and the extension zones above and below.
The open · NinjaTrader 8
Screenshot of the tool running.
The range that frames the rest of the day.
The first hours leave a range, and that range organises what follows: its extremes become references and its extensions become targets. This draws it for you, with the volume profile of the window itself.
You pick the window
Its start and end. And there is a second, independent window, so you can hold the morning one and the afternoon one at once.
With its volume profile
Not just the high and low: where it traded inside the window, with its point of control and value area.
Projected extensions
Multiples of the range above and below, which is where the run tends to be measured once price leaves.
Two windows at once
A second window with its own range, profile and extensions, living alongside the first.
What each term means
The names the indicator uses, and what each one means.
- Opening range. The high and low of the window you choose.
- ORH · ORL. The two extremes of that range.
- Extension. A multiple of the range projected above or below.
- Optimal zone. The stretch between extensions the indicator highlights.
- Window POC. The most-traded price inside the window.
- Second window. An extra independent window with its own hours.