OPEN-SOURCE SCRIPT
Updated Golden Key: Opening Channel Dashboard
Golden Key: Opening Channel Dashboard
Complementary to the original Golden Key – The Frequency
Upgrade of 10 Monday's 1H Avg Range + 30-Day Daily Range
This indicator provides a structured dashboard to monitor the opening channel range and related metrics on 15m and 5m charts. Built to work alongside the Golden Key methodology, it focuses on pip precision, average volatility, and SL sizing.
What It Does
How to Use It
About This Script
This is not a visual box-style indicator. It is designed to complement the original “Golden Key – The Frequency” by focusing on metric output. It is also an upgraded version of the earlier "10 Monday’s 1H Avg Range" script, now supporting multi-timeframe logic and additional customization.
Disclaimer
This is a technical analysis tool. It does not provide trading advice. Use it in combination with your own research and strategy.
Complementary to the original Golden Key – The Frequency
Upgrade of 10 Monday's 1H Avg Range + 30-Day Daily Range
This indicator provides a structured dashboard to monitor the opening channel range and related metrics on 15m and 5m charts. Built to work alongside the Golden Key methodology, it focuses on pip precision, average volatility, and SL sizing.
What It Does
- Detects first 4 candles of the session:
15m chart → first 4 Monday candles (1 hour)
5m chart → first 4 candles of each day (20 minutes) - Calculates pip range of the opening move
- Stores and averages the last 10 such ranges
- Calculates daily range average over 10 or 30 days
- Generates SL size based on your multiplier setting
- Auto-adjusts for FX, JPY, and XAUUSD pip sizes
- Displays all values in a clean table in the top-right
How to Use It
- Add to a 15m or 5m chart
- Compare the current opening range to the average
- Use the daily average to assess broader volatility
- Define SL size using the opening range x multiplier
- Customize display colors per table row
About This Script
This is not a visual box-style indicator. It is designed to complement the original “Golden Key – The Frequency” by focusing on metric output. It is also an upgraded version of the earlier "10 Monday’s 1H Avg Range" script, now supporting multi-timeframe logic and additional customization.
Disclaimer
This is a technical analysis tool. It does not provide trading advice. Use it in combination with your own research and strategy.
Release Notes
Golden Key: Opening Channel DashboardComplementary to the original Golden Key – The Frequency
Upgrade of 10 Monday's 1H Avg Range + 30-Day Daily Range
This indicator provides a structured dashboard to monitor the opening channel range and related metrics on 15m and 5m charts. Built to work alongside the Golden Key methodology, it focuses on pip precision, average volatility, and SL sizing — now with added customization and enhanced visual tracking.
What It Does
- []Detects the first 4 candles of the session:
- []15m chart → first 4 Monday candles (1 hour)
[]5m chart → first 4 candles of each day (20 minutes)
[]Stores and averages the last 10 such ranges
[]Calculates the daily range average over 10 or 30 days
[]Displays all key values in a clean table in the top-right:- []Opening Range (live)
[]Average Opening Range (last 10 sessions)
[]SL Size (Opening Range × Multiplier)
[]Daily Range Average (10d or 30d)
[]Current Timeframe
[]Auto-adjusts pip size logic for FX pairs, JPY, and XAUUSD - []15m chart → first 4 Monday candles (1 hour)
How to Use It
- []Add to a 15m or 5m chart (only those are supported)
[]Monitor the opening pip range in context of its 10-bar average
[]Compare to the 10d/30d full-day range for broader volatility view
[]Use SL size based on Opening Range × Multiplier - Customize table row colors, including the “Opening Range” label
About This Script
This is not a visual box-style tool — it's a metric-focused dashboard that complements the original “Golden Key – The Frequency.” It's also a complete upgrade of “10 Monday’s 1H Avg Range,” now featuring dynamic SL sizing, daily timeframe flexibility, and improved customization.
Disclaimer
This is a technical analysis tool. It does not provide financial advice. Use it as part of your broader research and trading strategy.
Release Notes
Corrected an error related to updating of the average range when the 4 candles close.Release Notes
Vertical bars where corrected.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.