FirstBarRange study displays lines for the high and low of the first bar/candle of the trading day, along with shaded areas for the range on top of the first bar high and below the first bar low.

This study is very useful for intraday traders to see when stocks trade above the first bar high, it shows strength, and many times the high of the first bar is also good support.

On the contrary, below the first bar high tends to be good area of weakness and many times it becomes a good resistance level .

Many times when the stock trades inside the first bar range, price will be choppy and range bound.
Script open-source

Dans le plus pur esprit de TradingView, l'auteur de ce texte l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur ! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par les règles internes. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Vous voulez utiliser ce script sur un graphique ?


I grabbed this after you posted it in Newbeat live yesterday. Thanks its a good script and i have been finding it useful
pgodel FourC
@FourC, awesome, thanks for the comment!
FourC pgodel
@pgodel, no problem thanks again. i have posted a few scripts - hope you find them useful check them out
pgodel FourC
@FourC, will take a look!
FourC pgodel
Hello- I hope your saturday is going well.
I was wondering if it is possible for you to tweak this code?
I was using another Opening Range Bar indicator that works, but yours is very good and i prefer it now.
However, I find with tradingview that futures charts sometimes dont line up correctly with indicators, and your study plots the opening range 1 hour past the cash open. It does not seem there is a way to manually change this...
Coding is very new to me, and i can tweak some code to my liking, but i think this is over my head.
Here is the other indicator that i was using that works correctly with futures... maybe there are some helpful lines in there? -->
Thanks for your consideration with this.
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