Easy Daily Open

5

This indicator lets you easily mark the daily open levels on a chart with several possibilities of customization.

For many trading strategies, the daily open level is an important level to base trading decisions on. That is why I chose to create this indicator that is designed to assist you with trading these strategies, as well as further optimizing them and getting a general understanding of the markets movements. With this tools help, you can easily take a look at the previous price action around these daily open levels, even from different time zones.


Function

This indicator automatically selects the daily opening times of the chart that it runs on and marks those times with a horizontal trend line.

Using the option called "Time Shift", you can let the program imitate the levels that would be displayed in another time zone. This is very helpful for testing and executing a strategy in different market conditions, which can help you increase your trading profits. It also helps you find a time zone in which the price movement suits you and your strategy the best.

You can even use this program to simply bring more structure into your charts, as it helps you to more easily distinguish where one day ends and the other begins.


Input Parameters

  • Time Shift - As explained above, you can use this option to show the daily open levels from another time zone. It is mainly recommended for the use in forex markets where there are no fix market close and open times and therefore the ability to choose a different hour for the beginning of one period can be very useful.
  • Save Object Resources? - If you think that the program needs to much time to load or you simply do not need a long history, you can use this option to limit the amount of levels that get loaded into the history. If the program calculates less levels, it needs less time to load. Because it is already relatively fast, limiting the history size should not be necessary here most of the time.
  • Draw as Background? - Set whether you want the price levels to be drawn in the background or in the foreground. If you set it to "Yes", the level will get drawn in the background, meaning that it cannot cover up your charts.
  • Visible? - This Option lets you quickly make the price levels invisible, giving you free sight on the charts without having to delete the indicator from your client terminal having to completely reload it again later.
  • Show History? - Set if historical daily open levels should be displayed on your charts or only the current level.
  • Current and Historical Daily Open Width - Set the width of the current and historical levels individually.
  • Daily Open Style - Set the style of the levels (for example solid, dashed, dotted etc.
  • Current and Historical Daily Open Color - Set the color of the current and historical levels individually.


Note

  • If you like this product, you might also like my Pivot Points indicator.
Reviews 6
jerrylew2020
294
jerrylew2020 2024.05.02 11:07 

Very good.

Chi Wai Raymond Mok
1099
Chi Wai Raymond Mok 2021.01.08 20:20 

the indicators is good , I use the few day is ok , But today 8-1-21 the line is moving ? Thanks

Thomas Froeba
938
Thomas Froeba 2019.10.10 22:07 

Very good. Thank you very much.

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PZ Candlestick Patterns
PZ TRADING SLU
Indicators
Identify over 30 candlestick patterns with precision This indicator recognizes over 30 Japanese Candlestick Patterns and highlights them beautifully on the chart. It is simply one of those indicators price action traders can't live without. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products  ] Boost your technical analysis overnight Detect japanese candlestick patterns easily Trade reliable and universal reversal patterns Hop onto established trends safely using continua
Non repaint MT4
Yan Zhen Du
Indicators
This is a professional chart indicator designed for traders focused on stability and clear price action. It helps filter market noise and provides clear visual entry and exit zones for your trading decisions. Core Features: Strictly Non-Repainting: The system is built with strict non-repaint logic. What you see on the chart is the true historical performance. Confirmed Signals: Signals are triggered and confirmed only after the candle closes . Once a trading arrow appears on a closed candle, it
Quantum Naked SMC Prime MT4
Le Kim Phong
Indicators
Quantum Naked SMC Prime is a streamlined Smart Money Concepts indicator designed for traders who prefer a clean chart, structured market analysis and clear visual trade setups without unnecessary complexity. The indicator combines market structure, liquidity behavior, institutional zones and confirmation logic into a compact analytical framework. Instead of flooding the chart with technical indicators, Quantum Naked SMC Prime focuses on the core elements of price action and Smart Money Concepts
Forex Breath System
Oleg Rodin
5 (5)
Indicators
Forex Breath System is a trend based trading system which can be used with any market. You can use this system with currencies, metals, commodities, indices, crypto and even stocks. It can also be used with any time frame. The system is universal. It shows trend and provides arrow signals with the trend. The indicator can also provide you with a special type of alerts when the signals appear in the direction of the trend which makes trend trading an easy task. The indicator is very easy to use a
Prop Firm Sniper
Mohamed Hassan
4.33 (6)
Indicators
Prop Firm Sniper MT4  is a professional market structure indicator that automatically identifies high-probability BUY and SELL opportunities using BOS and CHoCH analysis. Recommended Timeframes: For backtesting, use the indicator on   M5 or M15   for Gold (XAUUSD), and   M15 or H1   for more volatile Forex pairs such as   GBPUSD, USDJPY, EURGBP , and similar markets. CONTACT ME AFTER PURCHASE TO CLAIM YOUR FREE BONUSES! Prop Firm Sniper  is a professional market structure indicator designed t
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Professional Pivot Points
Simon Busley
4 (9)
Indicators
This tool gives you the opportunity to display pivot point support and resistance levels as well as the daily open, weekly close and monthly close levels on your chart with high levels of customization. Pivot points are important horizontal support and resistance levels that get calculated using the high, low and closing price of the previous period (for example D1). With this indicator, you can choose between hourly to monthly timeframes to base your pivot point calculation on. There is a va
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Trade Bookmark
Simon Busley
4.5 (2)
Indicators
This tool helps you find, revisit and document your past trades by marking the entries and exits using price labels. This indicator is designed to help you analyse your trades to, for example, find strengths and weaknesses of your Expert Advisor/strategy or even help writing your trading diary by clearly showing your past trades that you want to revisit. To only select those trades that were, for example opened by one specific Expert Advisor, you can select the magic number of those trades that
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sunnychow
9083
sunnychow 2025.01.23 12:20 

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ThinkMMQL
74
ThinkMMQL 2024.12.12 15:38 

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jerrylew2020
294
jerrylew2020 2024.05.02 11:07 

Very good.

John Winsome Munar
3471
John Winsome Munar 2022.06.15 01:34 

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Chi Wai Raymond Mok
1099
Chi Wai Raymond Mok 2021.01.08 20:20 

the indicators is good , I use the few day is ok , But today 8-1-21 the line is moving ? Thanks

Thomas Froeba
938
Thomas Froeba 2019.10.10 22:07 

Very good. Thank you very much.

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