From TradersList Editors
From TradersList Editors
Uncover early market trends and potential reversals with visual guides using this streamlined opening range and VWAP indicator.
Uncover early market trends and potential reversals with visual guides using this streamlined opening range and VWAP indicator.
Opening Range Indicator with VWAP and Measured Moves for ThinkOrSwim
Opening Range Indicator with VWAP and Measured Moves for ThinkOrSwim

by futuretony on ThinkOrSwim

by futuretony on ThinkOrSwim
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Opening Range Indicator with Measured Moves and VWAP For ThinkOrSwim
Opening Range Indicator with Measured Moves and VWAP For ThinkOrSwim
The Opening Range Indicator with Measured Moves and VWAP for ThinkOrSwim highlights selected market events during a set period, plotting key levels and VWAP to track fair value and high probability price levels.
The Opening Range Indicator with Measured Moves and VWAP for ThinkOrSwim highlights selected market events during a set period, plotting key levels and VWAP to track fair value and high probability price levels.

Get on ThinkOrSwim
This indicator is available on ThinkOrSwim charting platform. Signing up for a free account and downloading ThinkOrSwim software is required.

Get on ThinkOrSwim
This indicator is available on ThinkOrSwim charting platform. Signing up for a free account and downloading ThinkOrSwim software is required.
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Open Source
Listing has publically available source code that can be audited and modified as needed.
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Open Source
Listing has publically available source code that can be audited and modified as needed.
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All features of this listing are fully free to use with no pricing tiers. Simply start using.
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All features of this listing are fully free to use with no pricing tiers. Simply start using.
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Trusted Publisher
Publisher of this listing is well recognized in social channels and receives overwhelmingly positive feedback.
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Popular Topic
Concepts and theories mentioned in listing are popular topics in web search
Published by futuretony on ThinkOrSwim
Published by futuretony on ThinkOrSwim
Defining the Opening Range
The opening range captures the high and low of a specified period at the market open - typically the first 5, 15 or 30 minutes. This range establishes the day's initial balance zone. Breakouts above or below the opening range often set the directional tone for the rest of the trading session.
Measured Move Projections
Once a breakout occurs, the indicator projects measured move targets based on the height of the opening range. If the range is 5 points wide and price breaks above, the first target is 5 points above the high. These levels serve as profit targets and help traders set realistic expectations for the move.
Defining the Opening Range
The opening range captures the high and low of a specified period at the market open - typically the first 5, 15 or 30 minutes. This range establishes the day's initial balance zone. Breakouts above or below the opening range often set the directional tone for the rest of the trading session.
Measured Move Projections
Once a breakout occurs, the indicator projects measured move targets based on the height of the opening range. If the range is 5 points wide and price breaks above, the first target is 5 points above the high. These levels serve as profit targets and help traders set realistic expectations for the move.
VWAP as a Fair Value Reference
The Volume Weighted Average Price (VWAP) line provides a real-time reference for fair value. When price is above VWAP, buyers are in control; when below, sellers dominate. Combining VWAP with the opening range creates a framework - a breakout above the range with price above VWAP is a high-conviction long setup.
Day Trading Workflow Integration
Day traders can build their entire morning routine around this indicator. Identify the opening range, wait for a breakout, confirm with VWAP direction and target the measured move levels. This structured approach removes emotional decision-making and provides clear rules for entries, exits and risk management.
VWAP as a Fair Value Reference
The Volume Weighted Average Price (VWAP) line provides a real-time reference for fair value. When price is above VWAP, buyers are in control; when below, sellers dominate. Combining VWAP with the opening range creates a framework - a breakout above the range with price above VWAP is a high-conviction long setup.
Day Trading Workflow Integration
Day traders can build their entire morning routine around this indicator. Identify the opening range, wait for a breakout, confirm with VWAP direction and target the measured move levels. This structured approach removes emotional decision-making and provides clear rules for entries, exits and risk management.
Opening range with a few extras
Opening range with a few extras
This indicator plots the opening range high and low along with measured move targets and VWAP. Breakouts from the range set directional bias while VWAP serves as a fair value reference and the measured moves provide profit targets.
This indicator plots the opening range high and low along with measured move targets and VWAP. Breakouts from the range set directional bias while VWAP serves as a fair value reference and the measured moves provide profit targets.
Define Session Structure
The opening range establishes the initial balance zone, and breakouts above or below set the directional tone for the trading day.
Confirm Directional Strength
A breakout above the range with price holding above VWAP confirms bullish control; the reverse confirms bearish momentum.
Target Range-Based Extensions
Measured move projections based on the opening range height provide logical profit targets after a breakout occurs.
Common Questions About Opening Range Breakout Trading
Common Questions About Opening Range Breakout Trading
The opening range establishes the day's initial balance zone. Here are common questions about trading opening range breakouts with measured move targets.
The opening range establishes the day's initial balance zone. Here are common questions about trading opening range breakouts with measured move targets.
What timeframe works best for the opening range?
Common settings include the first 5, 15 or 30 minutes. Shorter ranges produce more signals but more false breakouts. Longer ranges provide cleaner signals but less opportunity. Many traders prefer 15 or 30 minutes as a balance.
How are the measured move targets calculated?
Measured move targets project the opening range height above or below the breakout level. If the range is 5 points wide and price breaks above, the first target is 5 points above the range high. Multiple extensions can be plotted.
Why include VWAP with the opening range?
VWAP confirms directional bias. A breakout above the opening range with price also above VWAP shows both momentum and value favoring longs. This confluence increases confidence compared to a breakout against VWAP direction.
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Web sentiment
Web sentiment
Traders appreciate the Opening Range Indicator with Measured Moves and VWAP for ThinkOrSwim, valuing its utility, customization, and the supportive community surrounding it.
Traders appreciate the Opening Range Indicator with Measured Moves and VWAP for ThinkOrSwim, valuing its utility, customization, and the supportive community surrounding it.
Source: Online Discussion
Source: Online Discussion
Source: Online Discussion
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TradersList Reviews (4)
TradersList Reviews (4)
TradersList Community has given this listing three stars, indicating decent trust and value for traders' toolkit. Make sure you understand functionality before using.
TradersList Community has given this listing three stars, indicating decent trust and value for traders' toolkit. Make sure you understand functionality before using.
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Source: TradersList Reviews
Source: TradersList Reviews

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