Opening Prices by Rise

Opening Prices by Rise - Multi-Timeframe Key Level Tracker

This comprehensive indicator identifies and displays critical opening price levels across multiple timeframes and customizable time-based intervals, providing traders with essential reference points for intraday and swing trading strategies.

The indicator systematically tracks opening prices from various market sessions and timeframe candles, creating persistent horizontal reference levels that extend forward on the chart. These levels represent institutional positioning points and psychological price zones where significant market reactions frequently occur.

Following level establishment, the indicator provides extensive visualization tools including customizable line styles, colors, widths, and optional vertical session markers. Advanced configuration options allow traders to display historical levels from previous trading days, implement custom time-based levels, and track higher timeframe candle opens—all within a single, streamlined interface.

This powerful solution delivers unmatched functionality for traders seeking to identify and monitor key opening price levels across multiple dimensions. Unlike basic session markers that display only current day levels, this indicator combines three distinct tracking systems—pre-configured key times, dynamic higher timeframe candle opens, and fully customizable time-based levels—into one cohesive tool. With its robust customization engine, historical multi-day tracking, and industry-leading custom level creation system, it provides capabilities that dramatically surpass conventional opening price indicators by offering complete control over every visual and functional aspect.

What are Opening Price Levels?
Opening prices represent the first traded price at the beginning of a specific time period. These levels are critical reference points because they often act as support or resistance zones throughout the trading session. The indicator tracks three primary categories:

Key Time-Based Opens
Pre-configured opening prices at strategically important times:

Daily Open -> The first price when the trading day begins

Midnight Open (00:00) -> Session start in 24-hour markets

New York Open (09:30) -> Major market session beginning

Higher Timeframe Candle Opens
Opening prices from larger timeframe candles that provide multi-timeframe context:

Monthly Open -> Beginning of each monthly candle

Weekly Open -> Start of each weekly period

4-Hour Open -> Intraday structural reference points

Each timeframe level can display multiple historical opens, allowing traders to see how price interacts with previous period opening levels.

Custom Time Levels
This indicator features a revolutionary custom level system that allows users to define unlimited time-based opening prices with complete control over styling and display options. Unlike other indicators with rigid preset times, this text-area based system provides unparalleled flexibility—simply add new levels using an intuitive comma-separated format. Each custom level has independent control over display type, line style, color, and width, making this the most versatile opening price tracking system available.


Historical Display
The indicator provides optional historical tracking, displaying opening price levels from previous trading days. This feature is invaluable for identifying recurring support/resistance zones and understanding how current price action relates to prior session opens. Most competing indicators only show current day levels, limiting their analytical value.


What Makes This Indicator Different?

• Unified Multi-System Approach -> Combines time-based, candle-based, and custom levels in one indicator instead of requiring multiple tools
  
• Advanced Historical Tracking -> Display previous days of opening levels, unlike competitors limited to current day only
  
• Intelligent Timeframe Detection -> Automatically prevents display issues on incompatible chart timeframes for clean visualization
  
• Industry-Leading Custom System -> Text-area based custom level creation with full parameter control per level—unmatched flexibility
  
• Dual Display Options -> Every level can show horizontal price lines, vertical time markers, or both simultaneously
  
• Complete Style Control -> Individual color, style, width, and text formatting for each level type
  
• Multi-Timeframe Candle Tracking -> Display multiple previous opens from any timeframe (show last 1-5 occurrences)
  
• Professional Label System -> Customizable text display with font, size, format, and alignment options
  
• Smart Extension Logic -> Configurable forward extension with automatic endpoint detection
  

Dual Display Mode
Each opening level can be displayed as:

• Horizontal price line showing the opening level
  
• Vertical time marker indicating when the open occurred
  
• Both simultaneously for complete context
  

Input Settings:
This tool offers extensive customizable options, which could be overwhelming to some users. Below you will find an in-depth definition of every input's purpose to complement the tooltips that can be found directly in the indicator's settings.

Historical 📜
Number of previous trading days to display opening levels for (0-50). Setting this to 25 or higher displays all available historical data. When set to 0, only the current day's levels are shown.

Offset 📏
Amount of bars to extend horizontal price lines past the current bar (0-50). This creates forward-looking reference levels that extend beyond the most recent price action.

Key Levels 🔑
Pre-configured opening times with individual controls for each level:

• Daily -> Trading day open (typically midnight or session start)
  
• 00:00 -> Midnight open for 24-hour markets
  
• 09:30 -> New York market open
  

For each key level:

• Checkbox -> Enable/disable this level
  
• Type -> Display as "Open Price" (horizontal line), "Vertical Line" (time marker), or "Both"
  
• Color -> Custom color selection
  
• Style -> Line style (Solid, Dashed, or Dotted)
  
• Width -> Line thickness (1-3)
  

Candle Levels 🕯️
Higher timeframe candle opening prices with enhanced controls:

• Checkbox -> Enable/disable this timeframe
  
• Name -> Custom label text for the level
  
• Timeframe -> Select any timeframe (1M, 1W, 240, etc.)
  
• Show Last -> Number of previous timeframe opens to display (1-5)
  
• Type -> Display mode (Open Price, Vertical Line, or Both)
  
• Color -> Custom color selection
  
• Style -> Line style (Solid, Dashed, or Dotted)
  
• Width -> Line thickness (1-3)
  

Text ✏️
Label configuration for all displayed levels:

• Label -> Display "Time" (HH:mm format), "Name" (custom text), or "None"
  
• Size -> Text size (Tiny, Small, Normal, Large, or Huge)
  
• Font -> Font style (Default or Monospace)
  
• Format -> Text formatting (Default, Bold, or Italic)
  
• Align -> Vertical positioning (Top, Middle, or Bottom) and horizontal alignment (Left, Center, or Right)
  

Custom Levels ⚙️
Advanced custom level creation system using comma-separated parameters:

Format:

HHmmss,Label Text,Type,Style,Color,Width

Parameters:

• Time -> HHmmss format (e.g., 060000 for 6:00 AM)
  
• Text -> Custom label for this level
  
• Type -> "Open Price", "Vertical Line", or "Both"
  
• Style -> "Solid", "Dotted", or "Dashed"
  
• Color -> "Red", "Green", "Blue", "Yellow", "Orange", "Purple", "Pink", "White", or "Black"
  
• Width -> Line thickness (1-3)
  

Example:

060000,[06:00],Open Price,Dotted,Blue,1
083000,[London Open],Both,Solid,Green,2
140000,[2PM],Vertical Line,Dashed,Orange,1

Each custom level must be on a separate line. The text area accepts multiple custom levels for maximum flexibility.

Use Cases:

• Identify key support and resistance levels from session opens
  
• Track institutional positioning zones across multiple timeframes
  
• Establish reference points for range-bound trading strategies
  
• Monitor previous day opens for gap trading opportunities
  
• Create custom session markers for specific trading strategies
  
• Analyze price reactions at higher timeframe opening levels
  
• Build systematic entry and exit strategies around opening prices
  

This indicator is for educational and informational purposes only. Past performance and historical patterns do not guarantee future results. Trading involves substantial risk of loss and is not suitable for all investors. Always conduct your own analysis and consider your financial situation before making any trading decisions. The identification of patterns does not constitute trading advice.

For any additional questions and/or feedback related to this indicator, users can comment below!