Opening Range Rotations V1

What This Indicator Does:

Opening Range Rotations displays dynamic support and resistance levels based on the opening range (first period of the trading session) with fixed-point rotation levels extending above and below. The indicator automatically detects your instrument (ES or NQ futures) and applies appropriate rotation intervals, creating a structured framework of price levels that traders use for intraday decision-making.

Why This Script Is Unique and Original:

While opening range concepts exist in trading, this implementation provides three proprietary features that justify closed-source protection:

Multi-Timeframe Opening Range Capture: The indicator uses cross-timeframe analysis to capture the opening range from its native timeframe (30 seconds to 60 minutes) regardless of your chart timeframe. You can view 1-minute opening range levels on a 5-minute chart, or 30-second OR levels on a 1-minute chart—maintaining accuracy across any viewing timeframe.

Automatic Instrument Detection and Calibration: The system automatically identifies whether you're trading ES, MES, NQ, or MNQ futures and applies the correct rotation intervals without manual configuration.

ES/MES uses 15-point rotations with 4-point paylines;
NQ/MNQ uses 65-point rotations with 10-point paylines.
This automatic calibration eliminates setup errors.

Dynamic Payline System: Beyond standard rotation levels, the indicator includes "paylines"—specific offset levels (ES: 4pts, NQ: 10pts) from the opening range high/low that represent institutional profit targets. These levels are automatically calculated and positioned based on instrument detection.

Session-Aware Level Management: Levels automatically reset at each session start and only display during active trading hours (customizable), preventing chart clutter during overnight sessions while maintaining historical reference when needed.

What Makes This Different From Basic OR Indicators:

Most opening range tools simply draw two lines (high/low) and maybe some static levels. This indicator goes further by:

Capturing OR from any timeframe via cross-timeframe requests
Auto-detecting instrument type and applying correct rotation sizes
Including institutional payline levels (not just arbitrary rotations)
Managing level display based on session times
Providing numbered rotation references (+1, +2, -1, -2, etc.)
Offering midline calculations for OR balance point
The combination of multi-timeframe capture, automatic calibration, paylines, and session management creates functionality not available in basic OR scripts.

How To Use This Indicator:

Understanding the Levels:

OR High (Green): Top of opening range period
OR Low (Red): Bottom of opening range period
OR Mid (Yellow): Midpoint—acts as balance point for the session
Paylines (Bright Green/Red): First profit target levels (ES: 4pts, NQ: 10pts from OR)
Rotation Levels (White): Fixed-point intervals above/below OR (ES: 15pts, NQ: 65pts)

Level Numbering:

+1, +2, +3: Rotations above OR High (bullish levels)
-1, -2, -3: Rotations below OR Low (bearish levels)
Numbers indicate how many rotation intervals away from OR
Trading Applications:

Opening Range Breakout:

Price above OR High = bullish bias, target +1, +2 rotations
Price below OR Low = bearish bias, target -1, -2 rotations
OR Mid acts as decision line when inside range

Rotation Level Trading:

Use rotations as profit targets (take profits at +1, +2, etc.)
Use rotations as reversal zones (fade extremes at +3, +4)
Watch for rejection wicks at rotation levels

Payline Strategy:

First target after OR breakout
ES: 4 points from OR High/Low
NQ: 10 points from OR High/Low
High-probability quick scalp zone

Range-Bound Days:

Price oscillating between OR High and OR Low
Use OR Mid for directional bias
Above mid = long bias, below mid = short bias
Fade extremes back to midline

Settings Overview:

Opening Range Settings:

Period: 30 seconds, 1min, 5min, 15min, 30min, or 60min
Session Time: When OR begins (default 8:30am Central)

Rotation Settings:

Number of Rotations: How many levels above/below OR (1-10)
Default: 5 levels each direction

Payline Settings:

Toggle paylines on/off
Automatically sized (ES: 4pts, NQ: 10pts)

Display Options:

Line Style: Solid, dashed, or dotted
Show Labels: Toggle price labels and rotation numbers
Label Size: Tiny, small, normal, or large
Show OR Midline: Toggle center line
Show Rotation Numbers: Toggle +1, -1 notation

Color Customization:

OR High color (default green)
OR Low color (default red)
OR Mid color (default yellow)
Payline colors (bullish/bearish)
Rotation colors (bullish/bearish)

Trading Hours:

Set active display hours (default 8:30am-3:00pm Central)
Levels hide outside trading hours to reduce clutter

Best Practices:

Timeframe Selection: Works on any chart timeframe, but 1-5 minute charts most common for day trading
OR Period: 1-minute OR for scalping, 5-15 minute OR for position trading
Rotation Count: 3-5 rotations typically sufficient, more for trending days
Confluence: Combine with volume, order flow, other structure for confirmation
Session Timing: Most relevant during RTH (Regular Trading Hours)

Common Trading Scenarios:

Breakout Above OR:

Enter on close above OR High
Target Payline, then +1, +2 rotations
Stop below OR Low
Breakout Below OR:

Enter on close below OR Low
Target Payline, then -1, -2 rotations
Stop above OR High

Range Day:

Sell OR High, buy OR Low
Take profits at OR Mid
Avoid if volatility is low

Trending Day:

After initial breakout, rotations become support/resistance
Pullbacks to previous rotation = continuation entries
Failure to reach next rotation = trend weakening

Alert Conditions:

Price Above OR High: Alerts when price crosses above opening range high
Price Below OR Low: Alerts when price crosses below opening range low

Instrument Support:

ES / MES: 15-point rotations, 4-point paylines
NQ / MNQ: 65-point rotations, 10-point paylines
Other instruments: Defaults to ES settings (can be used but not optimized)

What This Script Does NOT Do:

Predict whether price will break up or down (shows levels only)
Provide entry/exit signals (reference framework for discretionary trading)
Adapt rotation size to volatility (fixed intervals per instrument)
Work on all instruments equally (optimized for ES/NQ futures only)

Important Notes:

Opening range captures the FIRST bar of the specified OR period only
Levels reset each new session automatically
Multi-timeframe capture ensures accuracy regardless of chart timeframe
Best results on liquid futures during RTH
Not a complete trading system—requires additional analysis and risk management