STRIKE BOX

10월 16일

This **“STRIKE BOX”** Pine Script is used by traders to visually define and track the **New York Opening Range (OR)** — one of the most important time windows in intraday trading — and to monitor how price behaves relative to that range throughout the rest of the session.

Here’s the breakdown of what it’s used for and why traders care:

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### 🕘 **Purpose**

The script automatically identifies and plots:

1. **The New York Opening Range (8:00–9:30 AM NY time)** – where institutional volume begins to surge.
2. **The Trading Session (9:30–17:00 NY time)** – the official U.S. stock market hours.

It marks the **high and low of the opening range** and then watches for **breakouts** or **retests** during the rest of the day.

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### 💡 **Why traders use this**

1. **Identify key liquidity zones**

* The high and low of the opening range often represent **areas of trapped traders**, **liquidity pools**, and **institutional positioning**.
* Price tends to **revisit or react strongly** around these levels.

2. **Find breakout or reversal opportunities**

* Traders wait for price to **break above or below** the OR to confirm **directional bias** for the day.
* For example:

* A break above the OR high = possible bullish continuation.
* A break below the OR low = possible bearish momentum.
* If price fails to break and stays inside the range, that signals a **choppy or consolidating market**.

3. **Define risk and targets easily**

* The OR gives **natural stop-loss and take-profit zones**.
* A trader can buy near the OR low and target the OR high, or vice versa.

4. **Filter trades during high-volume hours**

* The New York session overlaps with London for a bit — this is when **most daily volume and volatility** occur.
* Many traders only want to trade inside or just after this opening period.

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### 📊 **How this script helps**

* It **automatically draws lines** for the OR high and low.
* It plots **vertical dashed lines** marking when the OR starts and ends.
* It **detects when price breaks the OR** (sets `High_Break` or `Low_Break` to true).
* It provides clear **visual zones** for decision-making instead of manually drawing them every day.

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### 🧠 In short

Traders use this to:

* See where the **New York Opening Range** formed.
* Watch for **breakouts or fakeouts** beyond that range.
* Align their trades with **institutional market flow**.
* Keep charts **clean and systematic** rather than guessing daily key levels.

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10월 16일

릴리즈 노트

updated chart and colors