Opening Range Breakout (ORB) Scanner for ThinkorSwim

[BenTen]

@TheNameIsBond You need to create two separate scanners. Don't put them all into one.

 

[airsakuragi]

Could someone help me on how to make a scan from a watchlist that the 1st candle is red and the alert is triggered when the latest closing bar is higher from the opening day price (its somewhat kind of a ORB but it base on the 1st candle)

Thank you

 

[BenTen]

@airsakuragi The same can be achieved using the ORB indicator. You just have to change the breakout time.

 

[airsakuragi]

@BenTen

is that the latest ORB indicator??
could you please indicate on which line should i change??
sorry im not good in script,
i just usually use the scan conditions on TOS

Also im trying to scan it without using the indicator

thank you

 

[BenTen]

@airsakuragi Use the code posted on the first page of this thread. You do not need to change any line. You just have to go to the indicator's settings and adjust the breakout time. For example, if you want the first 5 min candle to be your base candle, then you would adjust the ORend time to 0935.

 

[airsakuragi]

@BenTen thank you very much

 

[vince92615]

@BenTen everything is good but I can not see "within 2 bar"

 

[BenTen]

@vince92615 Expand that window. You should see it at the bottom right hand corner.

 

[johnpoole92]

@BenTen Im a little confused on setting up the ORB scanner i already have setup the Indicator which has been very helpful but im confused on a few steps

 

[BenTen]

@johnpoole92 Please help me understand by being specific about which part of the scanner that you need help. You can also post a screenshot of your scanner.

 

[bsr]

Hi Ben 10, Thank you for the scanner. I have a question related to changing the script to get scanned for a stock when they cross the breakout region. Below is an example -

Today I have scanned for a stock and got AMC at 10:43 at price range of $4.78 which have reached the 2nd high target(15%) for the day. Currently I'm having limiter with 5%(.05), is there any where we can change the scanner to get notified when they are crossing the breakout region.

Please refer to the screenshot, I have highlighted both the places.

https://imgur.com/qPiPuz1

 

[Bentley]

Hi @Rosalyn,

Below please find the link you requested...I made two changes to the scan:

1. I changed the timeframe from Daily to 30 minutes
2. I added "RangeLimiter" to go with the original "Limiter" to be able to better scope result sets

As a result of the changes made, the scan does return tickers...Give it a try and let me know how it goes...

Hope this helps...

Good Luck and Good Trading

Link: http://tos.mx/Nqe2Z6l

Hi there,
Have done a scan on the ORB BD but one stock the close is within the OR... but all other stock are ok

I did a check on the code and everything seem ok ...
I was scan on "all optionable"
Was wondering maybe you can do a check...
Thanks

 

[suchetam]

HI BenTen, this is amazing. But for some reason, I get notification very late, not sure why? The problem is in the scanner, I am on mountain time but have setting. Sorry I am not sure how to attach a picture

 

[BenTen]

@suchetam About 3-5 mins late?

 

[suchetam]

@BenTen About 30-40 minutes late. Today LYFT broke ORB around 10:00 am EST (8 am MST)- but my notification/addition to scanner came around 10:41 am EST (8:41 am MST)

 

[BenTen]

@suchetam That's odd. The delay period should only be between 3-5 mins.

 

[suchetam]

@suchetam About 3-5 mins late?

It is almost 30-40 minutes late. LYFT broke out around 8 am my time (Mountain time) and the alert came around 8:41 am Mountain time. Not sure how to add a picture/screenshot here

 

[BenTen]

@suchetam You would need to open a support ticket within ThinkorSwim so they can look into it. This sort of problem isn't something we have control over.

 

[Bentley]

Hi all,
I've done some modification to try to scan for stock that ORB is above yesterday Value area

# Filename: 30_min_Opening_Range_SCAN

# source: 30 min opening range
# original author: Robert Payne

def OpenRangeMinutes = 30;
def MarketOpenTime = 0930;
input ShowTodayOnly = yes;

def Today = if GetDay() == GetLastDay()
            then 1
            else 0;
               
def FirstMinute = if SecondsFromTime(MarketOpenTime) < 60
                  then 1
                  else 0;
                     
def OpenRangeTime = if SecondsFromTime(MarketOpenTime) < 60 * OpenRangeMinutes
                    then 1
                    else 0;

def ORHigh =  if FirstMinute
              then high
              else if OpenRangeTime and high > ORHigh[1]
                   then high
                   else ORHigh[1];
                       
def ORLow = if FirstMinute
            then low
            else if OpenRangeTime and low < ORLow[1]
                 then low
                 else ORLow[1];

def OpenRangeHigh = if ShowTodayOnly and !Today
                    then Double.NaN
                    else if !OpenRangeTime
                         then ORHigh
                         else Double.NaN;
                             
def OpenRangeLow = if ShowTodayOnly and !Today
                   then Double.NaN
                   else if !OpenRangeTime
                        then ORLow
                        else Double.NaN;

#TPO Value area high
Def TPOVAHigh = TPOProfile("time per profile" = "DAY", "on expansion" = no)."VAHigh"; 

# TPO Value area high of yesterday
Def TPOVAHighValue = GetValue(TPOVALow, GetMaxValueOffset(TPOVAHigh, 1), 1); 

plot ORBOPOC = OpenRangeLow > TPOVAHighValue;

However, when I do a scan on a 30 minutes time frame, there's no matches... but of course checking thru the stocks I could see there's some did fulfill the condition. Any idea on what might have gone wrong?

Thanks

 

[Brettser16]

Can someone share the link for ORB BD not the scanner im not sure what is the right one? Any help would be appreciated