PAX30OpeningRange (Desktop Indicator) (NTL)

User Guide Overview:
The PAX30OpeningRange indicator tracks the 30-second Opening Range for possible breakouts (ORB) and will automatically plot dynamic extension levels when price breaks beyond the initial opening range for (ES & NQ), all other symbols just plot the 30-second Opening Range.

This indicator is provided by The PAX Group regularly seen on NinjaTrader Live: https://www.youtube.com/@NinjaTrader

It is designed for intraday analysis on Minute and Second timeframe charts only.

The PAX30OpeningRange indicator is located in the PAX folder at the top of the indicator list.

Core Functionality:
The indicator captures the high and low of the first 30 seconds after the specified start time (in local time), creating the "Opening Range." This range serves as a reference for the entire trading session, with horizontal lines extending from the end of the ORB period through the specified local end time.

Symbol-Specific Behavior: (ES & NQ)
The indicator automatically adjusts its behavior based on the trading instrument:
ES/MES (E-mini S&P 500): Plots the ORB high/low and adds extension levels at 15-point intervals. When price breaks above the high or below the low, new levels are dynamically added at 15-point increments.

NQ/MNQ (E-mini Nasdaq): Similar to ES but uses 65-point intervals for extension levels, reflecting the larger point movements typical of Nasdaq futures.

All Other Symbols: Displays the basic 30-second ORB high/low lines without any extension levels.

ORB Input Parameters:
ORB Local Start Time: Set this to your LOCAL time zone (not exchange time). For example, if you're in Eastern Time and want to track the 9:30 AM ET open, enter 9:30:00.
ORB Local Line End Time: Local time when lines stop extending (e.g., 17:00:00 for 5 PM local)

Display Settings:
Text Vert Offset: Vertical pixel adjustment for price labels (positive = above line)
Text Horz Offset: Horizontal bar offset for labels (positive = right, negative = left)
Font Size: Size of price labels (6-24)
Bold Font: Enable/disable bold text
Price Label Prefix: Custom text before price values (default: "PAXOR")

Visual Parameters:
High/Low/Midline Colors: Customize colors for each line type
Line Width: Adjust thickness of main lines (high/low), midline, and extension levels
Show Midline: Toggle the midpoint line display

How It Works:
ORB Formation: At your specified local start time, the indicator begins tracking the highest and lowest prices during the ORB period (30 seconds).
Line Drawing: After the ORB period ends, horizontal lines are drawn at the high and low levels, extending to your specified local end time.

Dynamic Levels (ES/NQ only): When price breaks above the ORB high or below the ORB low, new extension levels appear automatically at predetermined intervals (15 points for ES/MES, 65 points for NQ/MNQ).
Real-time Updates: For the current trading day, lines and labels automatically extend with each new price bar, keeping the display current.

Important Notes:
The indicator displays up to 10 days of historical ORB data
Only works on Minute and Second timeframe charts
All time inputs use your LOCAL time zone

Disclosure:
Futures trading and strategy trading involves substantial risk and the potential for loss of capital. All NinjaScript code contained herein is provided by NinjaTrader, LLC and is for educational and demonstrational purposes only.

This indicator is provided "as-is" without warranty of any kind.

Trading futures and other financial instruments involves substantial risk of loss and is not suitable for all investors.

Always verify critical information through multiple sources
Test thoroughly in simulation before live trading
The developer assumes no liability for trading losses
You alone are responsible for your own trading decisions

You can find additional disclosure information on the NinjaTrader.com website.