Open Range Breakout Signal
and usage of the Fib Grid and Range Grid as a map of where the price is in the market
A Market will make 100% of the range or exceed it roughly 25% of the time... this is not always straight above or below the open it will go above and below..
Fib grid shows the levels of where it went to
Range grid tells the range expansion in total
So currently we are short and looking to hit - f150% - based on a breakdown of -f100% which a NYSE session open breakout trade itself.. although with so much range already used in the pre-market sessions - how much further it can go remains to be seen...
These indicators are available in Charts > Indicators > Market Place Add-ons > MicroTrends
more details of the indicators can be found here: http://www.indicatorfactory.com/tradingview-indicators/