This script is for a combination of two indicators: an Opening Range Breakout (ORB) indicator and a daily/weekly high/low pivot indicator. The ORB indicator displays the opening range (the high and low of the first X minutes of the trading day, where X is a user-defined parameter) as two lines on the chart. If the price closes above the ORB high, the script...
Buy condition =>ORB range 9:20-9:25. On 5 min TF if candle breaks high and next candle break high of that candle. buy signal when third candle breaks high of 2nd candle
Sell condition=>ORB range 9:20-9:25. On 5 min TF if candle breaks low and next candle break low of that candle. sell signal when third candle breaks low of 2nd candle
this indicator is extended...
Auto Levels is a Work in progress.
It is based on the previous days ATR and the current days opening tick.
It takes that info and uses Fibonacci to automatically draw key levels for the day.
I have added the BULL BAR ( Green bar ) and Bear Bar ( Red Bar ) to signal as a Go Long / Go Short line in the sand.
The Tan bars are also proven key "Take Profit" levels....
ORB Opening Range Breakout 5 and 3O Minute Indicator
Kudos to Chris Moody for the inspiration to create my first indicator.
The 5 and 30 run together at times but the scalp would be when the equity breaks the 5 go long or short for the scalp and when it breaks the 30 go for the swing trade.
The ORB with Price Targets Script will display the Opening Range (15 minutes of the open session by default) High and Low. It will then render upper and 2 lower Price Target Levels based on 50% and 100% profit targets of the Opening Range.
The opening range is customizable in the settings, where you can choose from 5 minute, 15 minute, or 30 minute Opening...
This script plots the high/low of any custom session and extends it until the daily close. It does not show on the timeframe higher than the length of custom opening session by default.
The time period of opening range & the max timeframe to display it on can be adjusted from the settings.
So for eg. if want to use 5m ORB to trade, then set "ORB total time"...
This indicaor is draw time(ex 09:15 nifty 50) high and low of candle ..
for buy condition -
1) when price is crossing time candle high open a long trade
2) check for condition is this trade open less thn previous trade
if both condition are true thn open a buy trade
for sell condition -
1) when price is crossing time candle low open a short trade
Just publishing a version of the script amitgandhinz already created, which is amazing.
Added fib levels that amitgandhinz already started but commented out
Added mid point that is often found effective as a starting point, SL, etc
#Let the index/stock trade for the first fifteen minutes and then use the high and low of this "fifteen minute range" as support and resistance levels.
#A buy signal is given when price exceeds the high of the 15 minute range after an up gap.
#A sell signal is given when price moves below the low of the 15 minute range after a down gap.
#It's a simple technique...
Opening Range with Infinite Price Targets is an ORB indicator that automatically generates price targets into infinity based on a user-defined % of range.
This indicator includes many nice-to-have features missing from other indicators. Such as:
Price Target Labels with Price tooltip, want to know exactly what price pt3 is at? Hover over it and see.
This script is what I currently use to day trade forex on a 5-minute timeframe.
The script features Multi-timeframe EMA20 that uses timeframe multipliers and is smoother by the factor by which you're multiplying your current timeframe.
Default settings are set to display EMA20 on the current (M5) timeframe, as well as M15, H1, H4 and D1 timeframes.
This script provides following levels:
1. ORB Level - You can adjust the timeframe of Opening Range (plots from 9am to 4pm)
2. ORB Fib Extension - 1.618 and 2.618 Fibonacci Extension of ORB High and Low (plots from 9am to 4pm)
3. Previous Day High/Low/Close - You can adjust color/thickness of the lines (plots from two days ago so that you can clearly see the...
This Indicator will print basically 4 lines.
You have to understand the importance of the "Initial Balance" the first trading hour of Cash session is very important in trading stocks and indizes.
So you will get 4 lines:
Initial Balance High
Initial Balance Low
Initial Balance Midpoint/Halfback
Most indicators for Range Box, Opening Trade,...
Simple script to highlight
Previous Day Low (PDL), Previous Day High(PDH), Previous Day Close(PDC)
Big round Numbers (BRN)
High Of the Day (HoD)
Low Of the Day (LOD)
-- Will add more DP's going fwd.
Usage : Especially useful to trade on NIFTY/Bank Nifty without any additional specific indicators.
Especially for daily analysis and intraday trading -...
Script is intended to scan Open = High and Open = Low (OHL) stocks for selected Opening Range in minutes.
I have added NSE NIFTY 50 stocks as default input for the script. Hopefully it will work with other stocks and exchanges.
Opening Range time is limited to the "1 min, 3 min, 5 min, 15 min, 30 min and 60 min" as OHL generally required for Intraday.
This is an intraday indicator which plots high and low of timeframe's first bar.
Top line - High of the first session bar
Bottom line - low of the first session bar
Requires session timing and total trading hours to plot the lines appropriately.
We can use the indicator to trade intraday opening range breakouts.
When indicator line shows rising trend, it means market has been good candidate for Intra-day ORB trading strategy. Indicator measures market's tendency of uni-directional moves during intra-day. Markets with rising indicator line can be used for Intra-day ORB trading in anticipation of continuing its past tendency to show intra-day unidirectional moves.