Opening Range Breakout Indicator for ThinkorSwim

[KRHIlls]

@BenTen What does the PC line stand for in the open range breakout indicator? Thanks!

 

[BenTen]

Could this be used on a higher timeframe or is there one similar to this that could be used on an higher timefram?

Well, it only plots the highest and lowest range of the stock from the first 30 minutes of the opening session. It doesn't matter which timeframe you use; the levels will be the same.

 

[Zlotko]

I like to trade ES and like pre-market and after-hour market. Will that not work if I do not Disable pre-market and after-hour market?

 

[cando13579]

I like to trade ES and like pre-market and after-hour market. Will that not work if I do not Disable pre-market and after-hour market?

it will work ,what i did is ,added the script twice and left one as is and changed the other to Asia opening time. hope this helps.

 

[jenn21dw]

I have added your script but it doesn't look like your screenshots, any ideas why?

 

[useThinkScript]

I have added your script but it doesn't look like your screenshots, any ideas why? View attachment 24103

Good news!
Yes, that is the layout for the opening range breakout.
Except:

• Disable pre-market and after-hour market

 

[CBOE]

Is there a way to move the bubbles to the right several bars? They tend to be annoyingly in the way of the current candle most of the time.

I've tried "input bubbleoffsetfactor = 3" for example and I got nothing.
I am not sure what code I need to add.

Thanks.

 

[dart966]

This guidance from Mobius, who wrote most of the opening range scripts in use, in his script header is a good explanation of his coding intent. Otherwise, there is plenty of information availble on this site and googling opening range.

This guidance from Mobius, who wrote most of the opening range scripts in use, in his script header is a good explanation of his coding intent. Otherwise, there is plenty of information availble on this site and googling opening range.

Maybe with this compiled additional information from Mobius one can create a great ORB trading strategy:

Looking at Mobius' notes in thinkscript_Cloud, and found this:

Mobius' additional rules for trading ORB:

Advance/Decline Line Indicator (AD)​

Mobius' RSI-L notes:

Mobius' rules for trading Pivots:

Mobius' LRC notes:

Using Monthly POC's as additional support/resistance areas:

Hope this additional info helps!

 

[CASTI1313]

I need help with several indicators I have been using them for a short time and I have a hard time understanding them.PC

I also want to know from these indicators the white support and the short ok I know it is a PUT but the point that comes out that means

http://tos.mx/!xke7riG8

This indicator is what I need to understand.

 

[useThinkScript]

View attachment 24462
I need help with several indicators I have been using them for a short time and I have a hard time understanding them.PC

View attachment 24463
View attachment 24464
I also want to know from these indicators the white support and the short ok I know it is a PUT but the point that comes out that means

http://tos.mx/!xke7riG8

This indicator is what I need to understand.

This is the Opening Range Breakout Strategy
You will find that the 12 pages in this thread discuss in-depth its use.
Keep this in mind:
https://usethinkscript.com/threads/...dicator-for-thinkorswim.16/page-9#post-134700


ORB strategies are one of the oldest day trading strategies.
So there is also much discussion of ORBs on the web.