Opening Range Breakout Indicator for ThinkorSwim

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Pensar

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@dominique The cloud is displaying correctly in the picture you posted, but it is very faint and hard to see. Perhaps try replacing the code that you currently have with the code in post #1 of this thread? I just loaded it into TOS, and the cloud is much more visible (brighter-colored).
 
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TJ Baez

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I'm new, so I would like to know what is the "RO" label shown on the Opening Range Breakout Strategy. Any help would be appreciate.
 
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jj87

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Has anyone coded the ORB using a "volatility" band similar to what Tony Crabel had? I tried to code this but not sure how to get started with the first input. In general:

1) calculate the smaller of (high - open) or (open - low) for each day for X number of days
2) calculate the average of the above based on X number of days
3) add/subtract the average above to the opening range (i.e., 5 min ORB).
4) optional to replace #3 above with opening price instead of range
 
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jtpdev

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I would like a horizontal line auto plotted at the high of the 1st 1 minute candle at market open at 9:30am. your help is appreciated : )
 
BenTen

BenTen

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@jtpdev Adjust the opening range end time, and you should be able to achieve that.
 
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jan_angel

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@BenTen is there a way to set scanner/alert when the R-ORH and R-ORL bubbles show up?

Thanks,
Jan
 
BenTen

BenTen

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@jan_angel They should show up automatically after the 30 min range has been established.
 
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jan_angel

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@BenTen i am referring to setting up a scan for those values using scan hacker
 
FoxEatsGekko

FoxEatsGekko

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Sorry, I feel I'm late to the party here posting on page 20 but I was wondering why mine doesn't plot the ranges on the chart until 3 days ahead. Screenshot attached.




OK, I'm observing it on the same day only on the 1min chart. On the 5min, it shows the lines for next day, and each subsequent time param increased places the plots farther out in days. 3 days on the 15min and 7 days out on the 30min.
 
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Pensar

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@FoxEatsGekko I was able to duplicate your problem in ThinkorSwim. You have too large of an expansion area for the indicator to plot correctly - my understanding of the problem is that since your ORB settings are set to "ShowTodayOnly = yes;", it picks the last day on your chart. Two ways to correct it are -
1) Shorten your expansion area via the Chart Settings > Time Axis tab, or
2) Change the indicator toggle for "ShowTodayOnly" to 'no'.
 
FoxEatsGekko

FoxEatsGekko

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@FoxEatsGekko I was able to duplicate your problem in ThinkorSwim. You have too large of an expansion area for the indicator to plot correctly - my understanding of the problem is that since your ORB settings are set to "ShowTodayOnly = yes;", it picks the last day on your chart. Two ways to correct it are -
1) Shorten your expansion area via the Chart Settings > Time Axis tab, or
2) Change the indicator toggle for "ShowTodayOnly" to 'no'.

That was it! Nice find and thank you very much.
 
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Amir-Trader

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When I use opening range break out , I hear the ring for alert and i check it under message but i don't see any bubble for the indicator even i change the time frame to 1m. Should I wait longer to see the bobble ? The same question for super_Trend . I don't see the arrow right away ? Thanks
 
BenTen

BenTen

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@Amir-Trader A few things:

1. You shouldn't see any arrows for the Supertrend indicator (unless you're using a modified version with arrows)
2. Check to see if the alerts are actually coming from the ORB indicator or another indicator that you are using.

I hope that helps.
 
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ZION

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@BenTen is there a way to get this awesome indicator as a watchlist when it breaks up or down the yellow line?
 
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Amir-Trader

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so we should stay on Heikin Ashi candlestick type or regular candle stick? i got confused
 

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