🔍 Researching the RTH Open: Consecutive Bull/Bear Bars

The open of the Regular Trading Hours (RTH) session is one of the most volatile, emotional, and misleading parts of the trading day.

Many traders are drawn to spikes that form in the first few minutes—only to get caught fading strength or chasing weakness.

Statistically, a large percentage of opening spikes fail. In our research, that failure rate sits close to 50%, depending on the structure and your conditions for failure.

📊 The Indicator: Open – Consecutive Bull/Bear Bars v3

https://www.tradingview.com/script/fMVwZilp-Open-CSC-Bars-V3/

This is a visual research tool. It doesn’t give signals. It doesn’t give advice.

What it does is track the number of consecutive bullish or bearish bars from the start of the RTH session and mark them on the chart.

You can configure it to look for any number of bars—2, 3, 4 or more—and it will only trigger if all those bars close in the same direction.

🟢 Three green bars? Label shows bullish conviction
🔴 Three red bars? Label shows bearish conviction
No labels? Choppy open, no early direction

🧪 Why This Matters

By logging and reviewing these opens, you can start to answer important questions:

How often do these strong opens fail versus continue?
What happens after 2 red bars vs 3 green bars?
Are these better fade setups or continuation setups?
What filters improve outcomes (context, location, Globex range)?

This is where structured observation beats opinion. You’re not trading it blindly—you’re studying how it actually behaves.

You can find interesting stats about it – my sample is small so far…

🔧 How to Use It

Load the indicator on your chart
Set the number of bars you want to track
Observe or log the days with early conviction opens
Tag or record what happens next—build your dataset
Use that to refine your trade entries or filters

🚫 No Signals. Just Structure.

This is not a signal tool. It’s for research. For building awareness.
If you want to trade the open, this helps you build confidence through evidence, not emotion.

As always—simple tools, clean visuals, structured thinking.

🛠️ Available now: “Open – Consecutive Bull/Bear Bars v3” on TradingView
📎 https://www.tradingview.com/script/fMVwZilp-Open-CSC-Bars-V3/

Zen Trading Tech