Glossary · O
What is Overnight high and low (ONH/ONL)?
The highest and lowest prices of the overnight (Asia and London) part of the session, before the New York day session.
In context
2. 08:20 New York time. This was the opening time of the old COMEX trading floor (the "pit"), and a surge in volume is still visible around that time. It marks the start of gold's regular trading hours (RTH, roughly 08:20–13:30).
- Advantage: the IB is built when U.S. participants are active and London is still open, so it reflects real participation.
- Disadvantage: the overnight hours (Asia and London) are left out of the IB, so you must track the overnight high and low (ONH and ONL) separately.
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