Open Range Breakout Indicator ORB

Open Range Breakout Indicator ORB

Hello everyone,
Here is the ORB indicator (Open Range Breakout) used in the famous strategy of Toby Crabel:
http://www.amazon.fr/Trading-Short-Patterns-Opening-Breakout/dp/0934380171

An explanation video:

https://www.youtube.com/watch?v=CAHG_KAhhJw

Some other details here:

https://www.wpi.edu/Pubs/E-project/Available/E-project-042910-142422/unrestricted/Veselin_Iliev_IQP.pdf

This indicator shows the highest and lowest in the first hour of trading that is very important. Default 9:00AM / 10.00AM. (European time zone)
This defines a Support and Resistance which we monitor breakage / Breakout in this strategy.

Bearings of 50% of the obtained range are also plotted.

It is of course quite possible, if desired, to change the indicator parameter for other time range

Bons trades 🙂

Zilliq

 

 

 

____________________________________

Coding is not a crime 😉

http://www.zilliqtradingresearch.fr/

 

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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03/25/2016

2 posts • 33 Followers
  1. avatar
    flowsen123 • 03/25/2016 #

    Hey zilliq,
    thank you for the code. But if I try to import it, it opens as an extra window, right below the normal chart.
    how can I get it in the chart?
     
    Cheers
    Flo

  2. avatar
    flowsen123 • 03/25/2016 #

    sorry for asking… I found the problem.

  3. avatar
    prorealcode48 • 03/25/2016 #

    bonjour,
    Après import, “
    Open Range Breakout Indicator ORB” n’apparaît dans la liste des Proscreener. Pourquoi ?

    • avatar
      Nicolas • 03/25/2016 #

      Bonjour, parce qu’il s’agit d’un indicateur et non d’un screener 🙂

  4. avatar
    Dunger • 03/25/2016 #

    Hi,
    Nice indicator.
    How do you display just the one set of lines for a given day, rather than all previous lines please?
    Regards.
     

  5. avatar
    Daniel da Costa • 03/25/2016 #

    Hi zilliq! I have imported the indicator into Prorealtime but it doesn’t overlay the price chart , it has a seperated like the other indicators eg MACD, am i doing something wrong?

  6. avatar
    Tom C • 03/25/2016 #

     how do you overlay in price chart?

    • avatar
      Nicolas • 03/25/2016 #

      Use the wrench of the price chart.

  7. avatar
    ken kiplimo • 03/25/2016 #

    I really need this ORB indicator in mq4 or EXE file. Who has it Please?

    • avatar
      Nicolas • 03/25/2016 #

      This website is dedicated to prorealtime programming, you’ll not find any MT4 files around here.

    • avatar
      ken kiplimo • 03/25/2016 #

      Thanks Nicolas.

  8. avatar
    ken kiplimo • 03/25/2016 #

    Thanks Nico for the advice. I was talking about this file “open-range-breakout-orb.itf” and if it can be saved in exe format

  9. avatar
    Bel • 03/25/2016 #

    good day traders. i tried to download this ORB indi but when i load using wrench it just plots black lines, nothing like the chart here. any suggestion guys? thanks

  10. avatar
    eisi • 03/25/2016 #

    Hello! This Indicator is not working if i change the displayed time. if i set time for example in the dax from 08.00-22.15 it doesnt work anymore. is there a solution for this problem? thank you in advance

    • avatar
      eisi • 03/25/2016 #

      Found the solution in a forum post from nicolas…thank you 🙂

  11. avatar
    hua hin • 218 days ago #

    Bonjour merci pour votre contribution
    Comment changer les horaire je voudrai mettre l horaire de NY fuseau asie soit 21h30 merci j ai essayer de modifier les heures sur le scrip mais cela m indique RETURN Merci de votre concours

  12. avatar
    desmondlua • 168 days ago #

    once maxii=undefined
    once minii=undefined
    once maxi1=undefined
    once mini1=undefined
    once maxi2=undefined
    once mini2=undefined
    once maxi3=undefined
    once mini3=undefined

    if time<093000 then
    maxi=high
    mini=low
    elsif time=093000 then
    maxi=max(high,maxi)
    mini=min(low,mini)
    lerange=(maxi-mini)/2
    midrange=(maxi+mini)/2

    else
    maxii=maxi
    minii=mini
    maxi1=maxi+lerange
    mini1=mini-lerange
    maxi2=maxi+2*lerange
    mini2=mini-2*lerange
    maxi3=maxi+3*lerange
    mini3=mini-3*lerange
    midrangei =midrange
    endif

    return maxii as “ORH”, minii as “ORL”, maxi1 as “UpperTarget1” ,mini1 as “LowerTarget1”,maxi2 as “UpperTarget2” ,mini2 as “LowerTarget2”,maxi3 as “UpperTarget3” ,mini3 as “LowerTarget3”, midrangei as “MiddleRange”

    Hi, I used the above 5-Min ORB indicator codes for US30 DOW Index, from 9.30am to 9.35am New York Time. Most of the days the ORH (Opening Range High) & ORL (Opening Range Low) are plotted correctly.
    However, I noted the ORH for 30-Dec-2024 was plotted incorrectly. It was using the 9.28am High as the ORH for 30-Dec-2024.
    May I know why? And how can I correct it? Thank you in advance.

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