PowerRanger: NY OR & IB with Standard DeviationsPowerRanger: Opening Range and Initial Balance
The PowerRanger is an all-in-one session volatility toolkit designed for intraday traders who specialize in Opening Range Breakouts (ORB) and Initial Balance (IB) expansions. By anchoring precisely to the New York open, this indicator provides institutional-grade levels that define the "playing field" for the rest of the trading day.
🚀 Why Use the PowerRanger?
In professional auction market theory, the first 15 and 60 minutes of the NY session represent the "Opening Range" and "Initial Balance." These zones often dictate the day's trend or mean-reversion boundaries. The PowerRanger automates these calculations with surgical precision and adds dynamic volatility extensions.
🛠️ Key Features
Dual Timeframe Tracking: Automatically plots the 15-Minute Opening Range (OR) and the 60-Minute Initial Balance (IB).
Dynamic Standard Deviations: Plot up to 5 Standard Deviation levels to identify overextension and high-probability reversal zones.
Custom Volatility Engine: Choose whether your SD extensions are derived from the 15-minute OR or the 1-hour IB, allowing you to adapt to different market regimes.
Historical Accuracy: Labels and levels remain pinned to historical data, making this an elite tool for backtesting and reviewing past session behavior.
Professional Visuals: Customizable shading, midpoints (Median lines), and clean, non-overlapping labels for a clutter-free trading experience.
📈 How To Trade It
The IB Breakout: Watch for price to consolidate within the Initial Balance (first hour). A strong close outside the IB High/Low often signals the trend for the remainder of the session.
Volatility Targets: Use the SD 1, 2, and 3 levels as primary take-profit targets.
The Mean Reversion: If price reaches SD 4 or 5, it is statistically "exhausted." Look for reversal patterns or RSI divergences at these extreme boundaries.
Midpoint Support/Resistance: The OR and IB Midpoints often act as "fair value." Watch for these levels to act as support during a trend or resistance during a breakdown.
⚙️ Settings & Customization
Session Time: Defaulted to NY Open (09:30 EST).
SD Source: Toggle between OR or IB as the base unit for volatility.
Visual Toggles: Turn individual SD levels on/off to suit your strategy.
Opacity Sliders: Fine-tune the background shading to keep your focus on price action.
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