NY Open OR/ATR Diff Planner – v2.8

NY Open OR/ATR Diff Planner – v2.8 (Hi-Contrast)

Trade the Opening Range Breakout with a plan, not vibes.
This tool builds the NY Opening Range (OR) from the cash open and overlays a complete, risk-based execution plan: precise entry, structural stop, position size, targets, and R:R — all tied to the Daily ATR(14) and the remaining ATR “fuel” left in the day.

What it does

Opening Range: First N minutes after 09:30 ET (choose 5/15/30/60).

Today-only lines: Automatically resets at 09:30; no carry-over from prior days.

Session aware: Works on RTH or ETH charts. OR always anchors at 09:30 ET.

Fuel model: Computes Session Range (since 09:30) and ATR Diff Left = Daily ATR − Session Range.

Entries & Stops:

Long plan: Entry = ORH, Stop = ORL

Short plan: Entry = ORL, Stop = ORH

Targets:

TP1 = 1R (distance of entry→stop)

TP (ATR-diff cap): Entry ± ATR Diff Left (caps greed when the day’s ATR is nearly spent)

Sizing & R:R: Position size = Account × Risk% / Risk per share, with live R:R to ATR-diff target.

Hi-contrast table: Clear readout of Daily ATR, OR size, OR/ATR%, Session Range, ATR left, entries/stops/TPs, size, and max $ risk.

Inputs

Opening Range (minutes): 5 / 15 / 30 / 60

Account Size ($) and Risk % per trade

Session mode: RTH (09:30–16:00) or ETH (chart’s session; still anchored at 09:30)

Also show Short plan (toggle)

Show info table (toggle)

How to use

Add on a 1–5m chart.

Choose your OR window (e.g., 15m = 09:30–09:45).

Set Account Size and Risk % (e.g., 4–5% for small accounts; adjust to taste).

Wait for the OR to complete.

Trade the break/retest with the levels shown:

Long: Break of ORH, SL at ORL, TP1 = 1R, TP2 = ATR-diff cap.

Short: Mirror logic.

If OR/ATR% > ~50% (red), the “fuel” is thin — be selective.

Why it helps build an edge

Objective structure: Clear levels and sizing remove guesswork.

Context-aware targets: ATR-diff keeps targets realistic to the day’s potential.

Discipline by design: One framework that’s easy to review, journal, and iterate.

Notes

This is an indicator (visual planner), not an order-placing strategy.

If you want a back testable version (one trade/day, optional retest rule, TP/SL logic), say the word — I can publish a strategy variant.

Keywords: ORB, Opening Range, ATR, Risk Management, Position Sizing, Day Trading, NYSE Open, Mean Reversion Fuel, Execution Planner