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Key terms for this guide

These glossary pages cover the ideas and platform language most closely tied to this workflow.

Opening range is session-specific

Opening range tools care about a defined early-session window. They are useful when the first few minutes of trade set the tone and you want levels tied directly to that opening auction.

Donchian channels are rolling structure

Donchian channels track the recent high-low envelope over a lookback period. They are better when you want breakout context that keeps adapting as the session develops.

Choose based on the question you are asking

If you care about the opening drive, use an opening range tool. If you care about whether price is expanding beyond recent structure at any point in the session, Donchian channels are usually the better fit.