summary: how to use the overnight range breakout report to trade the break of the overnight range once the regular session opens — what it measures, the number to read, and how to set it up.
what it measures
the overnight range breakout report asks one question: how often does price break the overnight range once the regular session gets going?
the overnight range is the high and low set between the prior afternoon close and the next market open — the overnight (Globex) session. this report measures how often the regular session then breaks above or below that range, and whether it breaks one side, both, or neither.
one thing up front: this report applies to futures and crypto only. stocks don't have an overnight session in the same sense, so the report isn't meaningful there.
which range breakout report do I want?
three reports ask the same shape of question — a range forms in one window, does price break it in the next — and they differ only in which range they measure:
this report measures the overnight (Globex) range, from the prior afternoon close to the next open, broken by the regular session.
the Asian range breakout report measures the Asian session range specifically, and adds the day's closing color on each side.
the market session breakout report is the general case — any session breaking the prior session's range, with a single / double / no-break read.
use this one when your levels come off the overnight session. use the Asian report when you trade the Asian range into the London or NY open, and the market session report when you want the session-to-session picture.
the number to read
the headline number is the break rate — how often the overnight range gets broken at all during the session, over your selected lookback. open the report for your ticker, session, and window to see the current rate.
a high break rate says the overnight range rarely contains the day — price tends to expand out of it. a lower rate says the overnight range is more likely to hold as the day's boundary. as always, a read that holds across 1 year, 6 months, and 3 months is more reliable than one that only shows up on a single lookback — check the date range before you lean on it.
how to read it
a few views help you go from "did it break" to "which way, and when":
break rate — how often the range breaks at all.
by levels — after the overnight high or low breaks, how often price reaches extension levels beyond it. you can count every break in the session or only the first one, so it gives you targets once you're in.
by size — the same behavior split by how wide the overnight range was, so you can separate tight overnight ranges from wide ones.
by open — filters to days price opened inside the overnight range, then splits them into quarters of the range measured down from the overnight high, so you can see how the break behavior shifts depending on where inside the range the session opened.
by weekday — the break behavior filtered to one day of the week.
how traders use it
the overnight range gives you two ready-made levels — the overnight high and the overnight low — before the session even starts.
if the data shows price usually breaks the range and runs, you're watching for a break-and-go out of one side. if it shows the range tends to hold, you're watching the edges as fade levels back inside. either way, the read takes customization to your ticker, session, and timeframe — and reps to trade it well.
setting it up
pull up the overnight range breakout report, set your ticker, session, and date range, and read the break rate. then drop the overnight high and low onto your chart — the overnight range breakout by levels TradingView indicator plots them for you — so you're trading against the same levels the report measured.