OPEN-SOURCE SCRIPT
TRUE OPEN AND OPENING PRICE BY HDSXN
This script is a comprehensive indicator designed for **ICT (Inner Circle Trader)** and **Smart Money Concepts (SMC)** traders. Its primary focus is on automatically identifying, drawing, and tracking **Opening Prices (OP)** and algorithmic **True Opens (TO)** across various timeframes and specific macro windows.
Here is a detailed breakdown of what this indicator does and its main features:
**1. Custom Opening Prices (Time Slots)**
The first module allows you to highlight specific intraday opening times.
* **Customizable Time Slots:** It features 4 independent slots where you can define a start and end time (e.g., 08:30 AM for the critical economic news open, or 09:30 AM for the NY Equities open).
* **Line Projection:** It grabs the exact opening price at that minute and projects a horizontal line across your chart until the designated end time, acting as a crucial intraday level (support/resistance or accumulation/manipulation reference).
**2. True Open (TO) Module**
Standard charts often plot the "Daily" or "Weekly" open at midnight based on the broker's timezone. This module recalculates the **"True Open"** based on real market mechanics (like the Sunday 6:00 PM EST futures open) and ICT algorithmic cycles:
* **Macro Timeframes:** Plots the True Year, True Quarter, True Month, True Week, and True Day opens using specific algorithmic rules (e.g., calculating the monthly open based on the 2nd Sunday of the month at 6:00 PM EST).
* **Session Opens (Killzones):** Automatically plots the opening prices for key trading sessions: Asia (19:30), London (01:30), NY AM (07:30), and NY PM (13:30).
* **90-Minute Cycles:** It tracks and plots the highly specific ICT 90-minute algorithmic cycles, triggering at precise macro minutes (e.g., xx:23 and xx:53).
**3. Advanced Chart Management (Visibility & History)**
To prevent the chart from becoming cluttered with dozens of lines, the script includes smart visibility rules:
* **Timeframe Boundaries:** You can set rules so that Yearly and Monthly opens only show on higher timeframes (like the 4H or Daily), while Session and 90-minute opens only appear on the 1m to 15m charts.
* **History Control:** You can choose exactly how many past "True Opens" to keep on the screen (e.g., keeping only the current active day's open, or saving the last 3 days for backtesting).
* **Auto-Styling:** Lines can automatically change from a dotted style (when the period is active) to a solid style (when the period has ended and becomes historical data).
**4. Real-Time Price Tracking Dashboard (Table)**
It features a built-in HUD (Heads-Up Display) table that sits in the corner of your screen.
* This table dynamically tracks the current price in relation to the True Opens.
* It tells you instantly if the current price is **"Above"** (highlighted in blue) or **"Below"** (highlighted in red) the Daily, Weekly, Monthly, Session, or 90-minute open. This is extremely useful for quickly determining if you are in a Premium (above the open) or Discount (below the open) condition for the day or week.
**In summary:** It is an all-in-one institutional time and price tracker. Instead of manually drawing horizontal lines at 8:30 AM or midnight EST every single day, this script automates the process and provides a dashboard to tell you exactly where the current price sits relative to these key algorithmic opening prices.
Here is a detailed breakdown of what this indicator does and its main features:
**1. Custom Opening Prices (Time Slots)**
The first module allows you to highlight specific intraday opening times.
* **Customizable Time Slots:** It features 4 independent slots where you can define a start and end time (e.g., 08:30 AM for the critical economic news open, or 09:30 AM for the NY Equities open).
* **Line Projection:** It grabs the exact opening price at that minute and projects a horizontal line across your chart until the designated end time, acting as a crucial intraday level (support/resistance or accumulation/manipulation reference).
**2. True Open (TO) Module**
Standard charts often plot the "Daily" or "Weekly" open at midnight based on the broker's timezone. This module recalculates the **"True Open"** based on real market mechanics (like the Sunday 6:00 PM EST futures open) and ICT algorithmic cycles:
* **Macro Timeframes:** Plots the True Year, True Quarter, True Month, True Week, and True Day opens using specific algorithmic rules (e.g., calculating the monthly open based on the 2nd Sunday of the month at 6:00 PM EST).
* **Session Opens (Killzones):** Automatically plots the opening prices for key trading sessions: Asia (19:30), London (01:30), NY AM (07:30), and NY PM (13:30).
* **90-Minute Cycles:** It tracks and plots the highly specific ICT 90-minute algorithmic cycles, triggering at precise macro minutes (e.g., xx:23 and xx:53).
**3. Advanced Chart Management (Visibility & History)**
To prevent the chart from becoming cluttered with dozens of lines, the script includes smart visibility rules:
* **Timeframe Boundaries:** You can set rules so that Yearly and Monthly opens only show on higher timeframes (like the 4H or Daily), while Session and 90-minute opens only appear on the 1m to 15m charts.
* **History Control:** You can choose exactly how many past "True Opens" to keep on the screen (e.g., keeping only the current active day's open, or saving the last 3 days for backtesting).
* **Auto-Styling:** Lines can automatically change from a dotted style (when the period is active) to a solid style (when the period has ended and becomes historical data).
**4. Real-Time Price Tracking Dashboard (Table)**
It features a built-in HUD (Heads-Up Display) table that sits in the corner of your screen.
* This table dynamically tracks the current price in relation to the True Opens.
* It tells you instantly if the current price is **"Above"** (highlighted in blue) or **"Below"** (highlighted in red) the Daily, Weekly, Monthly, Session, or 90-minute open. This is extremely useful for quickly determining if you are in a Premium (above the open) or Discount (below the open) condition for the day or week.
**In summary:** It is an all-in-one institutional time and price tracker. Instead of manually drawing horizontal lines at 8:30 AM or midnight EST every single day, this script automates the process and provides a dashboard to tell you exactly where the current price sits relative to these key algorithmic opening prices.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.