Opening Range Breakout Strategy with Market Volatility for ThinkorSwim

[egshih]

Thanks! I appreciate everyone's hard work on this. I will give this a shot tomorrow.

 

[kelbadawi]

@BenTen great indicator still trying get the hang of tc_o tc_c. so now that it’s an indicator the phrases open and closed have been removed and replaced with arrows? Also wats difference between indicator and strategy?
Thanks for all the work

 

[BenTen]

@kelbadawi The backtesting orders has been replaced with the buy and sell arrows. Other than that, nothing.

 

[K_O_Trader]

@BenTen is there a way for the buy/sell signal to show up on a watchlist?

 

[Raundx]

Is there an indicator close to this one that anyone may have?

 

[BenTen]

@Raundx Can you be more specific? Which indicator are you referring to? The opening range breakout that was shown in the video? If so, you can find it here.

From what I've seen, it's the same one created by Mobius. Even some of the other indicators he has on his charts such as the pre-market high and low.

 

[K_O_Trader]

@BenTen is there a way to get the buy sell arrows to be on a watchlist column? something similar to the keltner channel momentum indicator watchlist

 

[kelbadawi]

@BenTen thank you. i tried posting sell arrows in the script but it didnt work only showing buy arrow above hod or low

 

[egshih]

@BenTen

I am just trying to confirm the exit signal if I go long, so pretty much if the EMA with 8 candles crosses the EMA with the 13 candles, and the the market remains volatile then exit? I use TradingView as my primary tool and ToS for my secondary, so trying to understand exactly how this works. Thanks!

 

[K_O_Trader]

Hi,

Is there anyway we can modify this scan to pick up the stocks with a buy or sell signal? Currently this scan is only picking up stocks that are above the opening range or below, and it takes some work to sort through all this. Thanks!

@egshih Sort your watchlist by relative volume, the higher the RV the easier it will be to sort through the good stocks that are making the big moves

 

[egshih]

Thanks for the suggestion! I am using it with large cap tech and getting decent results. I just need to stop panicking and overriding my rules and sell early.

@egshih Sort your watchlist by relative volume, the higher the RV the easier it will be to sort through the good stocks that are making the big moves

 

[kelbadawi]

Does anyone know if there’s a mobile version of this script?

 

[BenTen]

@kelbadawi Here is the mobile version of the original ORB indicator, not the backtesting strategy found in this thread.

 

[kelbadawi]

@kelbadawi Here is the mobile version of the original ORB indicator, not the backtesting strategy found in this thread.

Will there be one for this script? Thank u yes I have that mobile version @BenTen

 

[BenTen]

@kelbadawi You can try the modified version I posted in message #100.

 

[kelbadawi]

@kelbadawi You can try the modified version I posted in message #100.

It doesn’t work I’ll just keep the one for mobile version for now maybe in future will be available. Thank u so much. Tried using the marketvol today it’s great since I tend to get in on the breakout bar but waiting for confirmation by the plotted arrow has deff saved me from false breakouts

 

[K_O_Trader]

Anybody use this? If so how is your success rate? Also what time frame do you use, I've noticed that with the 1 minute time frame that the confirmation comes quicker but also it is not as accurate as with the 5 minute, but with the 5 minute you get in later and may lose out on some of the breakout

 

[rad14733]

Anybody use this? If so how is your success rate? Also what time frame do you use, I've noticed that with the 1 minute time frame that the confirmation comes quicker but also it is not as accurate as with the 5 minute, but with the 5 minute you get in later and may lose out on some of the breakout

Yeah, 1 minute can be too fast and 5 minutes too slow which is why I use 2 or 3 minutes as a happy medium... But when I'm using Renko Bars the whole time issue is out the window as Renko Bars are based on range movement only, not ticks or time...

 

[K_O_Trader]

Yeah, 1 minute can be too fast and 5 minutes too slow which is why I use 2 or 3 minutes as a happy medium... But when I'm using Renko Bars the whole time issue is out the window as Renko Bars are based on range movement only, not ticks or time...

If you willing what is your Renko Bar setup?

 

[DAJEWA]

Can it be set that the entry points have labels or highlighted on the side or bigger arrows?