TE Session Boundaries Opening Range Initial Balance
TE Session Boundaries, Opening Range & Initial Balance maps the active trading session, Opening Range (OR) and Initial Balance (IB) using the instrument’s own exchange session and timezone.
The goal is simple: define session structure correctly and consistently, independent of chart timeframe.
This is a structural measurement tool, not a directional signal. It tracks what price has already done around the session’s defined boundaries.
SESSION TIME
By default, session boundaries come from the symbol’s exchange-defined regular session and exchange timezone. Custom exchange-local sessions are also supported.
The calculations do not rely on fixed UTC offsets, so daylight-saving changes do not shift the intended local session boundary.
OPENING RANGE
For a window R:
OR_high = max(H_t)
OR_low = min(L_t)
for:
open ≤ t < open + R
OR_width = OR_high - OR_low
The default Opening Range is 30 minutes.
The range is defined by elapsed time rather than bar count. A 30-minute Opening Range therefore represents the same session interval whether viewed on a 1-minute, 5-minute or 15-minute chart.
INITIAL BALANCE
The Initial Balance uses the same time-based approach:
IB_high = max(H_t)
IB_low = min(L_t)
for:
open ≤ t < open + 60 minutes
The default is the traditional 60-minute Initial Balance, or the first two 30-minute periods.
OR and IB remain separate structures. If both are configured to the same window, the indicator recognizes that they coincide rather than drawing duplicate ranges.
RANGE LIFECYCLE
Each range can progress through:
FORMING — the measurement window is still open.
SET — the window has completed.
BROKEN ABOVE — a confirmed bar closes above the completed range.
BROKEN BELOW — a confirmed bar closes below the completed range.
RECLAIMED — after a break, a confirmed bar closes back inside the range.
EXPIRED — the session has ended.
These states describe price relative to the range. They are not trade signals.
SHORT SESSIONS
If a session ends before a configured range window completes, the partial range is retained and identified as SHORT rather than being presented as a completed range.
READOUT
The on-chart panel displays the session, exchange timezone, session open, OR and IB levels, widths, lifecycle states and elapsed session time.
Displayed times can be shown in Exchange time or UTC. This changes display only; the underlying calculations remain anchored to the exchange session.
CUSTOMIZATION
The indicator includes configurable OR and IB windows, custom exchange-local sessions, Dark and Light themes, multiple table positions, compact mode and optional range-edge labels.
SCOPE
Session and timezone information are derived from the symbol. The script uses zero request.security() calls, so the session structures do not depend on a higher-timeframe request layer.
WHAT IT DOES NOT DO
It does not predict price, generate directional forecasts, identify entries, set stops or targets, or assign probabilities to range breaks.
BROKEN ABOVE, BROKEN BELOW and RECLAIMED describe confirmed price behavior around completed session structure. They are observations, not instructions to trade.
TE Session Boundaries, Opening Range & Initial Balance is designed to provide a clean, technically consistent view of the trading day: exchange-aware session boundaries, time-defined OR and IB ranges, and a clear lifecycle showing how those structures develop.
The goal is simple: define session structure correctly and consistently, independent of chart timeframe.
This is a structural measurement tool, not a directional signal. It tracks what price has already done around the session’s defined boundaries.
SESSION TIME
By default, session boundaries come from the symbol’s exchange-defined regular session and exchange timezone. Custom exchange-local sessions are also supported.
The calculations do not rely on fixed UTC offsets, so daylight-saving changes do not shift the intended local session boundary.
OPENING RANGE
For a window R:
OR_high = max(H_t)
OR_low = min(L_t)
for:
open ≤ t < open + R
OR_width = OR_high - OR_low
The default Opening Range is 30 minutes.
The range is defined by elapsed time rather than bar count. A 30-minute Opening Range therefore represents the same session interval whether viewed on a 1-minute, 5-minute or 15-minute chart.
INITIAL BALANCE
The Initial Balance uses the same time-based approach:
IB_high = max(H_t)
IB_low = min(L_t)
for:
open ≤ t < open + 60 minutes
The default is the traditional 60-minute Initial Balance, or the first two 30-minute periods.
OR and IB remain separate structures. If both are configured to the same window, the indicator recognizes that they coincide rather than drawing duplicate ranges.
RANGE LIFECYCLE
Each range can progress through:
FORMING — the measurement window is still open.
SET — the window has completed.
BROKEN ABOVE — a confirmed bar closes above the completed range.
BROKEN BELOW — a confirmed bar closes below the completed range.
RECLAIMED — after a break, a confirmed bar closes back inside the range.
EXPIRED — the session has ended.
These states describe price relative to the range. They are not trade signals.
SHORT SESSIONS
If a session ends before a configured range window completes, the partial range is retained and identified as SHORT rather than being presented as a completed range.
READOUT
The on-chart panel displays the session, exchange timezone, session open, OR and IB levels, widths, lifecycle states and elapsed session time.
Displayed times can be shown in Exchange time or UTC. This changes display only; the underlying calculations remain anchored to the exchange session.
CUSTOMIZATION
The indicator includes configurable OR and IB windows, custom exchange-local sessions, Dark and Light themes, multiple table positions, compact mode and optional range-edge labels.
SCOPE
Session and timezone information are derived from the symbol. The script uses zero request.security() calls, so the session structures do not depend on a higher-timeframe request layer.
WHAT IT DOES NOT DO
It does not predict price, generate directional forecasts, identify entries, set stops or targets, or assign probabilities to range breaks.
BROKEN ABOVE, BROKEN BELOW and RECLAIMED describe confirmed price behavior around completed session structure. They are observations, not instructions to trade.
TE Session Boundaries, Opening Range & Initial Balance is designed to provide a clean, technically consistent view of the trading day: exchange-aware session boundaries, time-defined OR and IB ranges, and a clear lifecycle showing how those structures develop.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.