Author Message:
Opening Range with Breakouts & Targets is based on the long-standing Opening Range Breakout strategy popularized by traders such as Toby Crabel and Mark Fisher.
This indicator measures and displays the price range created from the first period within a new trading session, along with price breakouts from that range and targets associated with the range width.
CODE:
CSS:
# Indicator for TOS
#// © LuxAlgo
#indicator("Opening Range with Breakouts & Targets [LuxAlgo]",shorttitle = "LuxAlgo - ORB & Targets"
#Hint OpeningRangePeriod: Sets the Length of Time used for determining Opening Range.
#Hint SignalBias: OR Fill Color is directional based on if the current Day/Session ORM is Above or Below the Previous ORM.\nExamples:\nNo Bias: Signals Occur Regardless of OR Color.\nDaily Bias: Signals do not fire until Target 1 when Breakout is in opposite direction of OR Color.\nDon't Show Signals : No signals will be displayed.
#Hint TargetPercentageOfRange: Uses this % of OR Width to use as the distance for targets.
#Hint TargetCrossSource: Uses this Source to tell the script when a target is hit in order to draw the next target.
# Converted by Sam4Cok@Samer800 - 09/2024
input ShowHistoricalData = yes; # "Show Historical Data"
input OpeningRangeResetOptions = {Default "Session", "Daily", "Custom"};
input OpeningRangePeriod = AggregationPeriod.THIRTY_MIN; # "Time Period", group = "Opening Range",
input customStartTime = 0930;
input customEndTime = 0945;
input SignalBias = {default "No Bias", "Daily Bias", "Don't Show Signals"}; # "Signal Bias"
input ShowTargets = yes; # "Show Targets"
input TargetPercentageOfRange = 50.0; # "Target % of Range"
input TargetCrossSource = {default "Close", "Highs/Lows"}; # "Target Cross Source"
input showSessionMovAvg = no; # "Session Moving Average Enable"
input SessionMovAvgLength = 20; # "Session Moving Average Length"
input SessionMovAvgType = {"SMA",Default "EMA", "RMA", "WMA", "VWMA"}; # "Session Moving Average Type"
def na = Double.NaN;
def bar_index = BarNumber();
def current = GetAggregationPeriod();
def tf = Max(current, OpeningRangePeriod);
def orCustom = OpeningRangeResetOptions==OpeningRangeResetOptions."Custom";
def orSession = OpeningRangeResetOptions==OpeningRangeResetOptions."Session";
def day = GetYYYYMMDD();
def time = GetTime();
def today = GetDay() == GetLastDay();
def dayChange = GetYYYYMMDD()!=GetYYYYMMDD()[1];
def last = if isNaN(close) then yes else if ShowHistoricalData then no else if !today then yes else no;
def RTH = time >= RegularTradingStart(day) and time <= RegularTradingEND(day);
def ETH = if !RTH then yes else ETH[1];
def Session = if ETH then RTH!=RTH[1] else dayChange;
def tfClose = if !isNaN(close) then close(Period = tf) else tfClose[1];
def tfChange = tfClose!=tfClose[1];
def tPer = TargetPercentageOfRange * 0.01;
def crSesh = SecondsTillTime(customEndTime) > 0 and SecondsFromTime(customStartTime) >= 0;
def h_src;
def l_src;
Switch (TargetCrossSource) {
Case "Highs/Lows" :
h_src = high;
l_src = low;
Default :
h_src = close;
l_src = close;
}
#// Function to calculate WMA
Script f_wma {
input source = close;
input length = 20;
def norm = fold i = 0 to length with p do
p + (length - i) * length;
def sum = fold j = 0 to length with q do
q + GetValue(source, j) * (length - j) * length;
def f_wma = sum / norm;
plot out = f_wma;
}
Script day_ma {
input _start = no;
input _type = "EMA";
input l = 20;
def fz = if _start then 0 else fz[1] + 1;
def bs_nd = if fz==0 then 1 else fz;
def v_len = if bs_nd < l then bs_nd else l;
def k = 2 / (v_len + 1);
def a = 1 / v_len;
def sumS = fold i = 0 to v_len with p do
p + GetValue(close, i);
def sumVol = fold v = 0 to v_len with q do
q + GetValue(Volume, v);
def sumSrcVol = fold v1 = 0 to v_len with q1 do
q1 + GetValue(Volume * close, v1);
def nom = sumSrcVol / v_len;
def den = sumVol / v_len;
def ma = if _start then close else
if _type == "EMA" then (close * k ) + (ma[1]*(1-k)) else
if _type == "RMA" then a * close + (1 - a) * ma[1] else
if _type == "SMA" then sumS / v_len else
if _type == "WMA" then f_wma(close, v_len) else
if _type == "VWMA" then nom / den else Double.NaN;
plot out = if _start then Double.NaN else ma;
}
Script get_1up {
input _val = close;
def floorVal = Floor(_val);
def ceilVal = Ceil(_val);
def intVal = if _val > 0 then floorVal else ceilVal;
def intVal1 = if (floorVal + 1) > 0 then Floor(floorVal + 1) else Ceil(floorVal + 1);
def up = if (_val - floorVal) > 0 then intVal1 else intVal;
plot out = if isNaN(up) then 0 else up;
}
#//Calculations
def or_sesh;
Switch (OpeningRangeResetOptions) {
Case "Custom" :
or_sesh = crSesh;
Case "Daily" :
or_sesh = if dayChange then yes else if !dayChange and tfChange then no else or_sesh[1];
Default :
or_sesh = if Session then yes else if !Session and tfChange then no else or_sesh[1];
}
def or_start = or_sesh and !or_sesh[1];
def or_end = or_sesh[1] and !or_sesh;
def orh; def orl;def hh; def ll; def prev_orm;
def up_check; def up_check1; def down_check; def down_check1;
def orm = (orh[1] + orl[1]) / 2;
def orw = AbsValue(orh[1] - orl[1]);
if or_start {
orh = high;
orl = low;
prev_orm = orm[1];
hh = if (orCustom or ETH) then high else high(Period = tf);
ll = if (orCustom or ETH) then low else low(Period = tf);
up_check1 = yes;
down_check1 = yes;
} else if or_sesh {
orh = Max(orh[1], high);
orl = Min(orl[1], low);
prev_orm = prev_orm[1];
hh = if (orCustom or ETH) then orh else high(Period = tf);
ll = if (orCustom or ETH) then orl else low(Period = tf);
up_check1 = up_check[1];
down_check1 = down_check[1];
} else {
orh = orh[1];
orl = orl[1];
prev_orm = prev_orm[1];
hh = na;
ll = na;
up_check1 = up_check[1];
down_check1 = down_check[1];
}
def day_dir; def hst1; def lst1;
def hst; def lst;
if or_end {
day_dir = if orm > prev_orm then 1 else if orm < prev_orm then -1 else 0;
hst1 = orh + (orw * tPer);
lst1 = orl - (orw * tPer);
} else {
day_dir = day_dir[1];
hst1 = hst[1];
lst1 = lst[1];
}
def dirUp = day_dir>0;
def dirDn = day_dir<0;
def inOrbHi = if !last and or_sesh and hh then hh else na;
def inOrbLo = if !last and or_sesh and ll then ll else na;
def dayMa = if last then na else day_ma(or_start, SessionMovAvgType, SessionMovAvgLength);
#-- MOV
plot movAvg = if showSessionMovAvg then dayMa else na;
movAvg.SetDefaultColor(Color.WHITE);
#-- ORB
plot OrbHi = if !last and !or_sesh and orh then orh else na;
plot OrbLo = if !last and !or_sesh and orl then orl else na;
plot midOrb = (OrbHi + OrbLo) / 2;
midOrb.SetStyle(Curve.SHORT_DASH);
OrbHi.SetDefaultColor(Color.GRAY);
OrbLo.SetDefaultColor(Color.GRAY);
midOrb.SetDefaultColor(Color.GRAY);
AddCloud(inOrbHi, inOrbLo, Color.GRAY);
AddCloud(if dirUp then OrbHi else na, OrbLo, Color.DARK_GREEN);
AddCloud(if dirDn then OrbHi else na, OrbLo, Color.DARK_RED);
#//Target Calculations
if h_src > hst1 {
hst = h_src;
lst = lst1;
} else if l_src < lst1 {
lst = l_src;
hst = hst1;
} else {
hst = hst1;
lst = lst1;
}
#def up_max = get_1up((hst - orh)/(orw * tPer));
#def down_max = get_1up((orl - lst)/(orw * tPer));
def tgt1U = orh + orw * tPer * 1;
def tgt1D = orl - orw * tPer * 1;
def up_cur = max(0, get_1up((h_src - orh)/(orw * tPer)));
def down_cur = max(0, get_1up((orl - l_src)/(orw * tPer)));
def crossUp1 = (close Crosses Above orh);
def crossUp2 = (close Crosses Above tgt1U);
def crossDn1 = (close Crosses Below orl);
def crossDn2 = (close Crosses Below tgt1D);
#/Signal Calcs
def biasUp; def biasDn;
Switch (SignalBias) {
Case "Don't Show Signals" :
biasUp = no;
biasDn = no;
Case "Daily Bias" :
biasUp = (day_dir !=-1 and crossUp1) or (day_dir ==-1 and crossUp2);
biasDn = (day_dir != 1 and crossDn1) or (day_dir == 1 and crossDn2);
Default :
biasUp = crossUp1;
biasDn = crossDn1;
}
def down_signal;
if (close > orm and down_check1 == no) {
down_signal = no;
down_check = yes;
} else if biasDn and down_check1 {
down_signal = yes;
down_check = no;
} else {
down_signal = no;
down_check = down_check1;
}
def up_signal;
if (close < orm and up_check1 == no) {
up_signal = no;
up_check = yes;
} else if biasUp and up_check1 {
up_signal = yes;
up_check = no;
} else {
up_signal = no;
up_check = up_check1;
}
plot sigUp = if !last and up_signal then orl else na;
plot sigDn = if !last and down_signal then orh else na;
sigUp.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
sigDn.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
sigUp.SetDefaultColor(Color.GREEN);
sigDn.SetDefaultColor(Color.RED);
#-- Targets
def tgtPup = if !ShowTargets then na else orh + (orw * tPer * up_cur);
def tgtNup = if !ShowTargets then na else orh + (orw * tPer * (up_cur-2));
def tgtPdn = if !ShowTargets then na else orl - (orw * tPer * (down_cur-2));
def tgtNdn = if !ShowTargets then na else orl - (orw * tPer * down_cur);
def tgt2U = orh + orw * tPer * 2;
def tgt3U = orh + orw * tPer * 3;
def tgt4U = orh + orw * tPer * 4;
def tgt5U = orh + orw * tPer * 5;
def tgt6U = orh + orw * tPer * 6;
def tgt7U = orh + orw * tPer * 7;
def tgt8U = orh + orw * tPer * 8;
def tgt9U = orh + orw * tPer * 9;
def tgt10U = orh + orw * tPer * 10;
def tgt11U = orh + orw * tPer * 11;
def tgt12U = orh + orw * tPer * 12;
def tgt13U = orh + orw * tPer * 13;
def tgt14U = orh + orw * tPer * 14;
def tgt15U = orh + orw * tPer * 15;
def tgt2D = orl - orw * tPer * 2;
def tgt3D = orl - orw * tPer * 3;
def tgt4D = orl - orw * tPer * 4;
def tgt5D = orl - orw * tPer * 5;
def tgt6D = orl - orw * tPer * 6;
def tgt7D = orl - orw * tPer * 7;
def tgt8D = orl - orw * tPer * 8;
def tgt9D = orl - orw * tPer * 9;
def tgt10D = orl - orw * tPer * 10;
def tgt11D = orl - orw * tPer * 11;
def tgt12D = orl - orw * tPer * 12;
def tgt13D = orl - orw * tPer * 13;
def tgt14D = orl - orw * tPer * 14;
def tgt15D = orl - orw * tPer * 15;
def tgtU1 = if or_start then na else if or_end then tgt1U else
if (tgtPup >= tgt1U) and (tgtNup <= tgt1U) then tgtU1[1] else tgtU1[1];
def tgtU2 = if or_start then na else if (tgtPup >= tgt2U) and (tgtNup <= tgt2U) then tgt2U else tgtU2[1];
def tgtU3 = if or_start then na else if (tgtPup >= tgt3U) and (tgtNup <= tgt3U) then tgt3U else tgtU3[1];
def tgtU4 = if or_start then na else if (tgtPup >= tgt4U) and (tgtNup <= tgt4U) then tgt4U else tgtU4[1];
def tgtU5 = if or_start then na else if (tgtPup >= tgt5U) and (tgtNup <= tgt5U) then tgt5U else tgtU5[1];
def tgtU6 = if or_start then na else if (tgtPup >= tgt6U) and (tgtNup <= tgt6U) then tgt6U else tgtU6[1];
def tgtU7 = if or_start then na else if (tgtPup >= tgt7U) and (tgtNup <= tgt7U) then tgt7U else tgtU7[1];
def tgtU8 = if or_start then na else if (tgtPup >= tgt8U) and (tgtNup <= tgt8U) then tgt8U else tgtU8[1];
def tgtU9 = if or_start then na else if (tgtPup >= tgt9U) and (tgtNup <= tgt9U) then tgt9U else tgtU9[1];
def tgtU10 = if or_start then na else if (tgtPup >= tgt10U) and (tgtNup <= tgt10U) then tgt10U else tgtU10[1];
def tgtU11 = if or_start then na else if (tgtPup >= tgt11U) and (tgtNup <= tgt11U) then tgt11U else tgtU11[1];
def tgtU12 = if or_start then na else if (tgtPup >= tgt12U) and (tgtNup <= tgt12U) then tgt12U else tgtU12[1];
def tgtU13 = if or_start then na else if (tgtPup >= tgt13U) and (tgtNup <= tgt13U) then tgt13U else tgtU13[1];
def tgtU14 = if or_start then na else if (tgtPup >= tgt14U) and (tgtNup <= tgt14U) then tgt14U else tgtU14[1];
def tgtU15 = if or_start then na else if (tgtPup >= tgt15U) and (tgtNup <= tgt15U) then tgt15U else tgtU15[1];
def tgtD1 = if or_start then na else if or_end then tgt1D else
if (tgtPdn >= tgt1D) and (tgtNdn <= tgt1D) then tgt1D else tgtD1[1];
def tgtD2 = if or_start then na else if (tgtPdn >= tgt2D) and (tgtNdn <= tgt2D) then tgt2D else tgtD2[1];
def tgtD3 = if or_start then na else if (tgtPdn >= tgt3D) and (tgtNdn <= tgt3D) then tgt3D else tgtD3[1];
def tgtD4 = if or_start then na else if (tgtPdn >= tgt4D) and (tgtNdn <= tgt4D) then tgt4D else tgtD4[1];
def tgtD5 = if or_start then na else if (tgtPdn >= tgt5D) and (tgtNdn <= tgt5D) then tgt5D else tgtD5[1];
def tgtD6 = if or_start then na else if (tgtPdn >= tgt6D) and (tgtNdn <= tgt6D) then tgt6D else tgtD6[1];
def tgtD7 = if or_start then na else if (tgtPdn >= tgt7D) and (tgtNdn <= tgt7D) then tgt7D else tgtD7[1];
def tgtD8 = if or_start then na else if (tgtPdn >= tgt8D) and (tgtNdn <= tgt8D) then tgt8D else tgtD8[1];
def tgtD9 = if or_start then na else if (tgtPdn >= tgt9D) and (tgtNdn <= tgt9D) then tgt9D else tgtD9[1];
def tgtD10 = if or_start then na else if (tgtPdn >= tgt10D) and (tgtNdn <= tgt10D) then tgt10D else tgtD10[1];
def tgtD11 = if or_start then na else if (tgtPdn >= tgt11D) and (tgtNdn <= tgt11D) then tgt11D else tgtD11[1];
def tgtD12 = if or_start then na else if (tgtPdn >= tgt12D) and (tgtNdn <= tgt12D) then tgt12D else tgtD12[1];
def tgtD13 = if or_start then na else if (tgtPdn >= tgt13D) and (tgtNdn <= tgt13D) then tgt13D else tgtD13[1];
def tgtD14 = if or_start then na else if (tgtPdn >= tgt14D) and (tgtNdn <= tgt14D) then tgt14D else tgtD14[1];
def tgtD15 = if or_start then na else if (tgtPdn >= tgt15D) and (tgtNdn <= tgt15D) then tgt15D else tgtD15[1];
plot target1U = if !last and !or_sesh and tgtU1 then tgtU1 else na;
plot target2U = if !last and !or_sesh and tgtU2 then tgtU2 else na;
plot target3U = if !last and !or_sesh and tgtU3 then tgtU3 else na;
plot target4U = if !last and !or_sesh and tgtU4 then tgtU4 else na;
plot target5U = if !last and !or_sesh and tgtU5 then tgtU5 else na;
plot target6U = if !last and !or_sesh and tgtU6 then tgtU6 else na;
plot target7U = if !last and !or_sesh and tgtU7 then tgtU7 else na;
plot target8U = if !last and !or_sesh and tgtU8 then tgtU8 else na;
plot target9U = if !last and !or_sesh and tgtU9 then tgtU9 else na;
plot target10U = if !last and !or_sesh and tgtU10 then tgtU10 else na;
plot target11U = if !last and !or_sesh and tgtU11 then tgtU11 else na;
plot target12U = if !last and !or_sesh and tgtU12 then tgtU12 else na;
plot target13U = if !last and !or_sesh and tgtU13 then tgtU13 else na;
plot target14U = if !last and !or_sesh and tgtU14 then tgtU14 else na;
plot target15U = if !last and !or_sesh and tgtU15 then tgtU15 else na;
plot target1D = if !last and !or_sesh and tgtD1 then tgtD1 else na;
plot target2D = if !last and !or_sesh and tgtD2 then tgtD2 else na;
plot target3D = if !last and !or_sesh and tgtD3 then tgtD3 else na;
plot target4D = if !last and !or_sesh and tgtD4 then tgtD4 else na;
plot target5D = if !last and !or_sesh and tgtD5 then tgtD5 else na;
plot target6D = if !last and !or_sesh and tgtD6 then tgtD6 else na;
plot target7D = if !last and !or_sesh and tgtD7 then tgtD7 else na;
plot target8D = if !last and !or_sesh and tgtD8 then tgtD8 else na;
plot target9D = if !last and !or_sesh and tgtD9 then tgtD9 else na;
plot target10D = if !last and !or_sesh and tgtD10 then tgtD10 else na;
plot target11D = if !last and !or_sesh and tgtD11 then tgtD11 else na;
plot target12D = if !last and !or_sesh and tgtD12 then tgtD12 else na;
plot target13D = if !last and !or_sesh and tgtD13 then tgtD13 else na;
plot target14D = if !last and !or_sesh and tgtD14 then tgtD14 else na;
plot target15D = if !last and !or_sesh and tgtD15 then tgtD15 else na;
target1U.SetDefaultColor(Color.DARK_GREEN);
target2U.SetDefaultColor(Color.DARK_GREEN);
target3U.SetDefaultColor(Color.DARK_GREEN);
target4U.SetDefaultColor(Color.DARK_GREEN);
target5U.SetDefaultColor(Color.DARK_GREEN);
target6U.SetDefaultColor(Color.DARK_GREEN);
target7U.SetDefaultColor(Color.DARK_GREEN);
target8U.SetDefaultColor(Color.DARK_GREEN);
target9U.SetDefaultColor(Color.DARK_GREEN);
target10U.SetDefaultColor(Color.DARK_GREEN);
target11U.SetDefaultColor(Color.DARK_GREEN);
target12U.SetDefaultColor(Color.DARK_GREEN);
target13U.SetDefaultColor(Color.DARK_GREEN);
target14U.SetDefaultColor(Color.DARK_GREEN);
target15U.SetDefaultColor(Color.DARK_GREEN);
target1D.SetDefaultColor(Color.DARK_RED);
target2D.SetDefaultColor(Color.DARK_RED);
target3D.SetDefaultColor(Color.DARK_RED);
target4D.SetDefaultColor(Color.DARK_RED);
target5D.SetDefaultColor(Color.DARK_RED);
target6D.SetDefaultColor(Color.DARK_RED);
target7D.SetDefaultColor(Color.DARK_RED);
target8D.SetDefaultColor(Color.DARK_RED);
target9D.SetDefaultColor(Color.DARK_RED);
target10D.SetDefaultColor(Color.DARK_RED);
target11D.SetDefaultColor(Color.DARK_RED);
target12D.SetDefaultColor(Color.DARK_RED);
target13D.SetDefaultColor(Color.DARK_RED);
target14D.SetDefaultColor(Color.DARK_RED);
target15D.SetDefaultColor(Color.DARK_RED);
#-- END of CODE
