[sundaram iyer]

why don't we discuss about the opening price concept and get the views

[AldPixto]

pH, is there a statistical hypothesis you're trying to prove? A correlation of serial day types?

I can download about 5 months of 30-min OHLC bars from eSignal (I think CQG users can get longer history).

Do you have IF-THEN-ELSE-like programmable rules that define the classic MP day types?

Do you need something more detailed than 30 minute OHLC bars?

[alex_laxya]

I am also working on the same concept. I have coded few open types but those codes I found are little rough especially those types where we need to see previous support/resistance areas. EX. Open Test Drive, here market test previous support to check if there is any buying interest remain and afterwords it goes up. Now to see what was the support area previous day is challenging to code. So I have just added today's opening price action. Here is an example for open drive

inputs:timeopen(0945);
vars:od(0);
od = (h-l)*4/5 ;
condition1 = (h-l) >= ((o - l) + od) and
 time<= timeopen;
condition2 = close>open and (h-l)> average((h-l),10);
condition3 = low> low[1] + ((h[1]-l[1])/2) and c >c[1];
if condition1 and condition2 and condition3 then
value1 = text_new ( date, time, open, "OD");

It's coded in MC. When you apply on the chart and open drive conditions are true then Text will print below the bar ( Text : OD )
See if the logic is correct, would post other codes for other open types.

While going through statistical details about type of open and market trend I have found market takes at least 2 hour to establish which type of open is it. If we tried to make assumptions based on first half an hour then it is not that accurate ( Theory says first half or 1 hr )