NY Opening Range - 15:30 breakout levels for stock indices - indicatore per MetaTrader 5

NYOpeningRange draws the opening range of the US cash session on stock index CFDs such as Nasdaq 100, S&P 500 or Dow Jones. By default the range is made of the first 15 minutes after the 9:30 New York open, which is 15:30 on a broker server running on European time.

What it draws:

- A box with the high and low of the opening range and its size in price points

- High and low of the range extended to the end of the session

- Targets at 1R and 2R above and below the range, where R is the height of the range

- A green arrow when a candle closes above the range and a red arrow when it closes below it (only the first breakout of each day)

Inputs:

- Number of days to draw

- Auto DST: the open follows the US and EU daylight saving changes, or a manual open time

- Length of the range, length of the session, last time for a breakout arrow

- Number of R targets, arrows and labels on/off, colours

Notes:

- Made for the M1 to M15 timeframes, M5 is a good choice

- It needs M1 history to build the range

- Auto DST assumes that the broker server follows European time (CET/CEST). With another server time switch it off and enter the open time by hand

- Arrows use closed candles and do not repaint

- It is an information tool, not a trading system: it does not promise any profit. Test it on history and on a demo account before relying on it

How to use:

1. Copy NYOpeningRange.mq5 into the MQL5\Indicators folder of your terminal (File - Open Data Folder) and compile it in MetaEditor.

2. Drag NYOpeningRange from the Navigator window onto an index chart (M5 suggested).

3. If your server does not follow European time, disable Auto DST and set the open hour and minute.

Tips:

- The width of the range gives a quick idea of how volatile the open is compared with previous days.

- The extended high and low are common reference levels for the rest of the session.