* * UPDATED ENTRY/EXIT MARKS BASED OFF BARBAROS INPUT IN OUR DISCORD!! THANKS FOR THE HELP! --- UPDATED 3.14.22* *
Here is a price action (TheStrat) based ORB strategy with targets. It is ready to go and battle the markets.
I am always looking to improve the coding and strategy, any and all suggestions welcome.
Lots of credit to @Pelonsax for helping with coding and providing his codes to the public!
Link for importing here :
- ORBxSTRAT : http://tos.mx/j2Wpjeb
- ORBxSTRATxMA : http://tos.mx/CRxpCiA
BONUS
- STRATx9MA : http://tos.mx/OipPRLo
============================================================================================
Documentation for ORBxSTRAT trading system -
All trades are entered before 11:00am EST
FTC = Day/Hour/Thirty continuity // WFTC = Week/Day/Hour/Thirty continuity
CrossAbove = price crosses ORHigh // CrosseBelow = price crosses below ORLow
RL = 4hr reversal long // RS = 4hr reversal short
- - - > 4hr patterns must complete ( 2-1-2 // 3-2-2 // 1-2-2 // 2-2 // 3-1-2 // 1-1 OR 1 )
CL = 4hr continuation // CS = 4hr continuation
- - - > 4hr patterns must complete ( 2-2 // 1-2 // 3-2 )
RL2 = day reversal SETUP long // RS2 = day reversal SETUP short
- - - > I highlight SETUP because these patterns do not have to be complete, we are looking at the daily for the reversal setups ( 2-1 // 3-2 // 1-2 // 2 // 3-1 // 1-1 OR 3)
CL2 = day continuation SETUP long // CS2 = day continuation SETUP short
- - - > I highlight SETUP because these patterns do not have to be complete, we are looking at the daily for the reversal setups ( 2 // 1 // 3 )
LONG criteria -
Reversals Long - When there is RL2 ( 2D-1 // 2D // 3D-1 // 1-2D ) you must have one of the RL ( 2D-1-2U // 2D-2U // 3-1-2U // 1-1-2U // 1-2D-2U // 3-2U ) setups complete. This can be a gap or happen when the opening range causes the new 4hr bar to complete the Strat pattern. FTC UP must also be true to get a signal. Entry is CrossAbove.
Continuations long - To get a signal long when a stock is running you must have WFTC UP. A CL2 setup ( previous daily bar is 2U, inside, or 3U) must be present. CL ( 2U-2U // 1-2U // 3-2U // 2U // 3U ) or RL setup must also be complete. Entry is CrossAbove.
SHORT criteria -
Reversals Short - When there is RS2 ( 2U-1 // 2U // 3U-1 // 1-2U ) you must have one of the RS ( 2U-1-2D // 2U-2D // 3-1-2D // 1-1-2D // 1-2U-2D // 3-2D ) setups complete. This can be a gap or happen when the opening range causes the new 4hr bar to complete the Strat pattern. FTC DOWN must also be true to get a signal. Entry is CrossBelow.
Continuations long - To get a signal SHORT when a stock is falling you must have WFTC DOWN. A CS2 setup ( previous daily bar is 2D, inside, or 3D) must be present. CS ( 2D-2D // 1-2D // 3-2D // 2D // 3D ) or CS setup must also be complete. Entry is CrossBelow.
EXITS -
Targets are retracements of the range of the opening range. For example….if the OR range is 10 and the high is 100 and low is 90, then targets long are 110 then 120 and short are 80 then 70. This creates an easy 1:1 and 1:2 risk/reward profile using the opposite end of the opening range as your stop.
If you see a better way to stop out please share, I have found it too costly to use the midway point of the opening range when trading options.
I choose to exit at target 1 long and short, this is the exit with greatest probability but am working on a selling partial at target 1, move stop to break even, and hold for target 2 with remaining.
Here is a price action (TheStrat) based ORB strategy with targets. It is ready to go and battle the markets.
I am always looking to improve the coding and strategy, any and all suggestions welcome.
Lots of credit to @Pelonsax for helping with coding and providing his codes to the public!
Link for importing here :
- ORBxSTRAT : http://tos.mx/j2Wpjeb
- ORBxSTRATxMA : http://tos.mx/CRxpCiA
BONUS
- STRATx9MA : http://tos.mx/OipPRLo
============================================================================================
Documentation for ORBxSTRAT trading system -
All trades are entered before 11:00am EST
FTC = Day/Hour/Thirty continuity // WFTC = Week/Day/Hour/Thirty continuity
CrossAbove = price crosses ORHigh // CrosseBelow = price crosses below ORLow
RL = 4hr reversal long // RS = 4hr reversal short
- - - > 4hr patterns must complete ( 2-1-2 // 3-2-2 // 1-2-2 // 2-2 // 3-1-2 // 1-1 OR 1 )
CL = 4hr continuation // CS = 4hr continuation
- - - > 4hr patterns must complete ( 2-2 // 1-2 // 3-2 )
RL2 = day reversal SETUP long // RS2 = day reversal SETUP short
- - - > I highlight SETUP because these patterns do not have to be complete, we are looking at the daily for the reversal setups ( 2-1 // 3-2 // 1-2 // 2 // 3-1 // 1-1 OR 3)
CL2 = day continuation SETUP long // CS2 = day continuation SETUP short
- - - > I highlight SETUP because these patterns do not have to be complete, we are looking at the daily for the reversal setups ( 2 // 1 // 3 )
LONG criteria -
Reversals Long - When there is RL2 ( 2D-1 // 2D // 3D-1 // 1-2D ) you must have one of the RL ( 2D-1-2U // 2D-2U // 3-1-2U // 1-1-2U // 1-2D-2U // 3-2U ) setups complete. This can be a gap or happen when the opening range causes the new 4hr bar to complete the Strat pattern. FTC UP must also be true to get a signal. Entry is CrossAbove.
Continuations long - To get a signal long when a stock is running you must have WFTC UP. A CL2 setup ( previous daily bar is 2U, inside, or 3U) must be present. CL ( 2U-2U // 1-2U // 3-2U // 2U // 3U ) or RL setup must also be complete. Entry is CrossAbove.
SHORT criteria -
Reversals Short - When there is RS2 ( 2U-1 // 2U // 3U-1 // 1-2U ) you must have one of the RS ( 2U-1-2D // 2U-2D // 3-1-2D // 1-1-2D // 1-2U-2D // 3-2D ) setups complete. This can be a gap or happen when the opening range causes the new 4hr bar to complete the Strat pattern. FTC DOWN must also be true to get a signal. Entry is CrossBelow.
Continuations long - To get a signal SHORT when a stock is falling you must have WFTC DOWN. A CS2 setup ( previous daily bar is 2D, inside, or 3D) must be present. CS ( 2D-2D // 1-2D // 3-2D // 2D // 3D ) or CS setup must also be complete. Entry is CrossBelow.
EXITS -
Targets are retracements of the range of the opening range. For example….if the OR range is 10 and the high is 100 and low is 90, then targets long are 110 then 120 and short are 80 then 70. This creates an easy 1:1 and 1:2 risk/reward profile using the opposite end of the opening range as your stop.
If you see a better way to stop out please share, I have found it too costly to use the midway point of the opening range when trading options.
I choose to exit at target 1 long and short, this is the exit with greatest probability but am working on a selling partial at target 1, move stop to break even, and hold for target 2 with remaining.
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