The opening range is one of the basic concepts of the ACD method. The indicator displays the opening range on the chart of a futures or stock. It consists of two lines, which are the upper and lower borders of the opening range. You can change two parameters. The first parameter is the duration of the opening range, the default setting is 20 minutes. The second parameter is the number of days to display the indicator, the default value is 1 day. You can set any number of days (if it goes beyond the trading history, then the entire chart is covered by an indicator). Thus, according to the price chart, you can evaluate how often the opening range is high or low. The time frame of the chart should be not greater than the duration of the opening range. In case of switching between different securities, the indicator lines are updated.
An example of an indicator is shown in Fig. 3.1 for a chart time frame of 10 minutes and an opening range of 20 minutes.