Archived: Opening Range Breakout

[C4men]

See if this addition to the following strategy helps

#Arrow -----------------------------------------------------------
def orh_cross =  lowestall(if today and close crosses above orhigh then barnumber() else double.nan);
def orl_cross =  lowestall(if today and close crosses below orlow then barnumber() else double.nan);
plot orh_orl  =  if !isnan(orh_cross) and !isnan(orl_cross) then barnumber()==min(orh_cross,orl_cross) else if isnan(orh_cross) then barnumber()==orl_cross else barnumber()==orh_cross;
orh_orl.setpaintingStrategy(paintingstrategy.BOOLEAN_ARROW_down);
orh_orl.setlineweight(5);
#-----------------------------------------------------------------

@SleepyZ that was just PERFECT. Thank you very much!

One other question: could I separate into two plots?

The reason being - if it crossed the High, I'd want an UP arrow; if it crossed the Low, I'd want a DOWN arrow.

Thank you again!!!

 

[SleepyZ]

@SleepyZ that was just PERFECT. Thank you very much!

One other question: could I separate into two plots?

The reason being - if it crossed the High, I'd want an UP arrow; if it crossed the Low, I'd want a DOWN arrow.

Thank you again!!!

You're welcome. Replace the following code to get directional arrows

#Arrow -----------------------------------------------------------
def orh_cross =  lowestall(if today and close crosses above orhigh then barnumber() else double.nan);
def orl_cross =  lowestall(if today and close crosses below orlow then barnumber() else double.nan);
def orh_orl   =  if !isnan(orh_cross) and !isnan(orl_cross)
                 then barnumber()==min(orh_cross,orl_cross)
                 else if isnan(orh_cross)
                 then barnumber()==orl_cross
                 else barnumber()==orh_cross;
plot orhcross =  if orh_orl == 1 and barnumber()==orh_cross then orh_cross else double.nan;
orhcross.setpaintingStrategy(paintingstrategy.BOOLEAN_ARROW_up);
orhcross.setdefaultColor(color.yellow);
orhcross.setlineweight(5);
plot orlcross =  if orh_orl == 1 and barnumber()==orl_cross then orl_cross else double.nan;
orlcross.setpaintingStrategy(paintingstrategy.BOOLEAN_ARROW_down);
orlcross.setdefaultColor(color.yellow);
orlcross.setlineweight(5);
#-----------------------------------------------------------------

 

[C4men]

You're welcome. Replace the following code to get directional arrows

Just terrific. Sincerest thanks to you.

Only one more condition to go for me. Back to work.

 

[_Merch_Man_]

@_Merch_Man_ 30 seconds into the video, it shows 90D 5M and then you switched to 5D 15M to 5D 5M. You're looking at 90 days worth of trades vs 5 days, why would it be the same.

OMG I'm so stupid. Thanks @generic.

 

[vince92615]

How come when I turn off the extended hours, the ORB range lines all go to the next day but the target lines still intact. tried multiple versions on this thread, all the same

 

[MerryDay]

@vince92615 I have not experienced that problem but I am not trading on the ORB anymore. The highest All lag that ToS built into the latest upgrade makes this indicator unworkable.

Some posters have had better luck with this one. I haven't used it but perhaps it will fix your problems and it doesn't lag.
https://usethinkscript.com/threads/opening-range-breakout-orb-scanner-for-thinkorswim.68/

 

[vince92615]

@vince92615 I have not experienced that problem but I am not trading on the ORB anymore. The highest All lag that ToS built into the latest upgrade makes this indicator unworkable.

Some posters have had better luck with this one. I haven't used it but perhaps it will fix your problems and it doesn't lag.
https://usethinkscript.com/threads/opening-range-breakout-orb-scanner-for-thinkorswim.68/

Thank you that one worked, doesn’t have targets included but I just overlayed another one with it.

 

[jesusguajardo24]

Supertrend link should work now. I had it listed under Exclusive which require manual approval to see. I just removed that. Should work now if you click on it again Sorry about that. @Ezmane7

I cant access any link, I have same problem as others.

 

[MerryDay]

Hello & Welcome @jesusguajardo24 Are you referring to the shared link in post#1?

The link is working. Did you follow these instructions? --> Easiest way to load shared links
If you are still having problems, please describe what steps you took and the results.
Upload images to illustrate the problem.
Don't know how to upload screenshots to the forum? Here are directions.

 

[STOCKSOMETHING]

hi Ben, I just found this indicator today. its been great. been hearing a lot about it from others and many great review. Thank You!!
I cant see the red and green area in mine. what changes can I make to see that?

 

[s1111]

hi Ben, I just found this indicator today. its been great. been hearing a lot about it from others and many great review. Thank You!!
I cant see the red and green area in mine. what changes can I make to see that?

In setting turn on cloud . It's set to off by default.

 

[s1111]

can you pls tell me how it's done. I am new to tos. thank you

Click study, find your orb script. Click on gear icon then turn on cloud to yes just like this post.

Post in thread 'Opening Range Breakout Indicator for ThinkorSwim' https://usethinkscript.com/threads/opening-range-breakout-indicator-for-thinkorswim.16/post-31

 

[djskisak]

@BenTen on the study on tos what does the RO mean ?

 

[ApeX Predator]

@BenTen on the study on tos what does the RO mean ?

That means RiskOn as per the indicator, and it shows up both sides for RiskOn for Long and Short.

 

[mtntempo]

Hey guys, I wanted to see if someone could please put something together for me. I'd like something like some of @BenTen opening range breakout indicators, but that just plots lines of where the price range during the morning from 930am-1005am and again from 1330-1405pm.

It would be awesome if we could also make a watchlist like the opening range breakout column that makes a column to show if the price is in the Afternoon Range, between the morning and afternoon or in the morning range. If thats too much, then just the watchlist column showing if the price is within the afternoon range or not.

I would like to backtest a strategy with this. and if it works how I theorize it will perhaps we could work together to make an indicator and strategy out of it. If you are interested in this strategy please let me know and I can explain it.


Thanks for your help!


Here is a pic of an indicator that does the same thing, but on TradingView that I saw someone post.

 

[germanburrito]

Hey guys, I wanted to see if someone could please put something together for me. I'd like something like some of @BenTen opening range breakout indicators, but that just plots lines of where the price range during the morning from 930am-1005am and again from 1330-1405pm.

It would be awesome if we could also make a watchlist like the opening range breakout column that makes a column to show if the price is in the Afternoon Range, between the morning and afternoon or in the morning range. If thats too much, then just the watchlist column showing if the price is within the afternoon range or not.

I would like to backtest a strategy with this. and if it works how I theorize it will perhaps we could work together to make an indicator and strategy out of it. If you are interested in this strategy please let me know and I can explain it.


Thanks for your help!


Here is a pic of an indicator that does the same thing, but on TradingView that I saw someone post.

yeah ofcourse i would just use two open range breakouts, and change the times of one indicator. here is the indicator, i would also change it to show today only. https://usethinkscript.com/threads/opening-range-breakout-indicator-for-thinkorswim.16/
how do you use this to trade if you dont mind me asking.

 

[amzsup]

@Playstation Last I checked, the Supertrend indicator is not delayed.

Yes, you should also treat the upper and lower ORB as support and resistance, as well.

Can you point me to the shareable link for the supertrend indicator.

 

[MerryDay]

Can you point me to the shareable link for the supertrend indicator.

https://usethinkscript.com/search/609603/?q=Supertrend&t=post&c[title_only]=1&o=replies

 

[spe533]

Hey guys, I wanted to see if someone could please put something together for me. I'd like something like some of @BenTen opening range breakout indicators, but that just plots lines of where the price range during the morning from 930am-1005am and again from 1330-1405pm.

It would be awesome if we could also make a watchlist like the opening range breakout column that makes a column to show if the price is in the Afternoon Range, between the morning and afternoon or in the morning range. If thats too much, then just the watchlist column showing if the price is within the afternoon range or not.

I would like to backtest a strategy with this. and if it works how I theorize it will perhaps we could work together to make an indicator and strategy out of it. If you are interested in this strategy please let me know and I can explain it.


Thanks for your help!


Here is a pic of an indicator that does the same thing, but on TradingView that I saw someone post.

@michigandolf has a nice 30min OR on tradingview just fyi if you ae looking for another

 

[germanburrito]

@BenTen just found this and want to say thanks! haven't made any money yet but reviewing previous day with this seems to work!

just dont put all your money in it dude.