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/

 

Share this

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?

Find other exclusive trading pro-tools on ProRealCode Marketplace

PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials

avatar
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 • 223 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 • 173 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.

avatar
Register or

Likes

avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar
Related users ' posts
avatar
Maxime Baudin Nice, thanks!
avatar
rowestock Hi Nicolas, I am revisiting this indicator and wanted to ask, is it possible to replace sty...
avatar
Nicolas Why not, please add a new request in our probuilder forums.
avatar
majid52026 Hi I want MBXF Timing for mq5 Does anyone have this indicator???
avatar
dertopen Hi Nicolas good work for the code translation when i chek the mbfx system site i see in t...
avatar
Nicolas Yes, just change the color by yourself in the indicator settings window.
avatar
bearbull As per PhilipSchultz question above, has anybody managed to add code for when it turns blue,...
avatar
Ybr35 Bonjour Nicolas, lorsque je lance l'indicateur, il m'est indiqué que je dois définir les var...
avatar
Nicolas L'idéal est de télécharger le fichier itf joint sur cette page et de l'importer dans la plat...
avatar
fabio407 Thanks, Nicolas. Very useful. Would you tell me where to find what result conveys the functi...
avatar
Nicolas This is not an instruction of the programming language but a variable from this indicator (l...
avatar
fabio407 OK. I didn't notice it. Many thanks, Nicolas!
avatar
gabri
8 years ago
DeMarker Indicator
DeMarker Indicator
6
Indicators
avatar
HeikinAshi How do you spot the divergences? Do you use an divergence-finder indicator?
avatar
gabri HeikinAshi, you can use this divergency finder https://www.prorealcode.com/prorealtime-indic...
avatar
HeikinAshi Thanks Gabri, I thought in this direction. I'll check it out, thanks!
avatar
albertocampagna Sei grande Nicolas :-)
avatar
SAcht Dear Nicolas, Great work, thank you very much!I would love to use the indicator in ProScree...
avatar
SAcht btw: The above-posted ProScreener is supposed to show stocks for which the center line has i...
avatar
Djo Not working on V11. The RSI doesn't appear on the chart.
avatar
Mika83 Bonjour, J'ai des soucis de lecture de syntaxe avec la variable "drawsegment" sur la versio...
avatar
seb234 Salut Mika, j'ai la version V11.1, la formule fonctionne. Mais il est préférable, dixit Nico...
avatar
Nicolas
8 years ago
Average Sentiment Oscillator
v10.3
Average Sentiment Oscillator
6
Indicators
avatar
AutoFlanders Quelqu'un a-t-il déjà remarqué, sur ce graphique, que les bougies montantes sont rouges et l...
avatar
lilo789 Bonjour, Merci Mr Nicolas pour ce très bon indicateur. Une excellente stratégie qui est t...
avatar
Nicolas Les codes postés sont libres et appartiennent à tous, faites en ce que vous voulez :)
avatar
bolsatonimora2 Hi, nice indicator, it´s possible to include a middle line with 50 value? ty!
avatar
gabri Hi, EMA26 approximate almost exactly the 50% line
avatar
Alain Wilder MA is exactly the 50% line
avatar
Nicolas
8 years ago
TAT indicator
TAT indicator
#MACD #Parabolic SAR #sar
3
Indicators
avatar
Loop Hi All! Would it be possible to have the same indicator with the MACD calculated with the DE...
avatar
Nicolas Why not, but do you think it would make such a noticeable difference?
avatar
Loop Good question Nicolas! That's why I was curious to check it! MACD based on DEMA is usually m...
avatar
Leo Hi Gabri, have you ever try this in a trading system?
avatar
gabri Leo, I used to crosscheck this indicator a long time ago. For the trading I was doing at tha...
avatar
Nolubok Bonjour Gabri, merci pour l'ensemble de vos publications, serait il possible d'avoir le scr...
avatar
bolsatrilera
8 years ago
Volume Stops
v10.3
Volume Stops
#volume
6
Indicators
avatar
Aragorna Hello, ask for a help, please. why the indicator in my PRT is in a different area and not in...
avatar
Nicolas Add it on the price chart: https://www.prorealcode.com/blog/video-tutorials/how-to-add-an-in...
avatar
Infanta Congratulations. Of all the indicators that I have been able to examine, in my opinion and f...
avatar
gabri
8 years ago
Trend Balance Point (TBP)
v10.3
Trend Balance Point (TBP)
8
Indicators
avatar
Alex975 Wilder personalmente lo definisco un poeta del trading..  Utilizzo alcuni strumenti di Wild...
avatar
AleX Vi faccio partecipi dell'evoluzione del mio studio, mi avete appassionato a Wilder che da ig...
avatar
gabri Grazie mille Alex!!  
avatar
wtangsiri Bonjour J'ai importé le fichier ITF en question, mais cela me donne, en bas de l'écran, un...
avatar
Nicolas Il faut ajouter l'indicateur sur le graphique du prix.
avatar
skuggan89 This is a great indicator, works very well!! Is there any algo based on this indicator that ...
avatar
gabri
8 years ago
Relative Momentum Index (RMI)
Relative Momentum Index (RMI)
#momentum
1
Indicators
avatar
Marcel Thank you for this one. I played around with this indicator with Bollinger Bands around it i...
avatar
Doctrading Hello, Higher timeframes are better. I suggest D1 or H4.Best regards,
avatar
Pinkybouh hello, I propose to add another conditions: ie: haussier: close > open and close >...
avatar
TheHovisTrader I'd be interested in the actual profit of this - in the example the stop range is at least 2...
avatar
Regan2020 Hi, has anybody update the above code to enable on a 15m or 5m TF?
avatar
gigi64 ik heb de code op mijn pro realtime gezet , en bij indicator staat hij erbij maar komt niet ...
avatar
gigi64 I have put the code on my pro realtime, and it is on the indicator, but it does not appear o...
avatar
supertiti Thanks you so much Lucassen
avatar
dreif123 hi, copied the above code, not working on 10.3 the system says "return can only be used at ...
avatar
LUCASSEN Hallo , i have no problem , and i have the same versie 10.3, maybe you can ask Nicolas, tha...

Top