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Old 18-06-2009, 10:38 AM
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Default Opening Range Breakout Formula

15 min opening range breakout AFL
change breakoutime for different ranges
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File Type: afl ORB.afl (858 Bytes, 1297 views)
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Old 18-06-2009, 11:17 PM
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Default Hello Jatin

Hello JAtin
A little elaboration can increase our confidence at ORBs.
Why 15 min? How about other time frames? Can you come up with your detailed views on ORB.
Sunando
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Old 19-06-2009, 10:55 AM
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Originally Posted by sunbim31 View Post
Hello JAtin
A little elaboration can increase our confidence at ORBs.
Why 15 min? How about other time frames? Can you come up with your detailed views on ORB.
Sunando

15min BO stratagy is practiced by sudarshan sukhani, 30 min by tony crabel..



The Fifteen Minute Rule

Intra day traders / Swing Traders often face difficulties in entering the market when there is a gap open. But the gap need not destroy your trading plan. You can do a quick analysis, adjust your trading strategy and get into a good position well after the crowd pulls the trigger on a gap play. Here is how.

Let the index/stock trade for the first fifteen minutes and then use the high and low of this "fifteen minute range" as support and resistance levels. A buy signal is given when price exceeds the high of the 15 minute range after an up gap. A sell signal is given when price moves below the low of the 15 minute range after a down gap. It's a simple technique that works like a charm in many cases.

If you use this technique, though, a few caveats are in order to avoid whipsaws and other market traps. The most common whipsaw is a trading range that lasts longer than 15 minutes. If an obvious range builds in 20, 25 or even 30 minutes , use those to define your support and resistance levels. Also consider the higher noise level in the morning. A breakout that extends only a tick or two can be easily reversed and trap you in a sudden loss. So let others take the bait at these levels, while you find pullbacks and narrow range bars for trade execution.

Last edited by jazz; 20-06-2009 at 03:49 PM. Reason: NO TJ HERE
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Old 19-06-2009, 11:21 AM
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Plz read
Day Trading With Short Term Price Patterns And Opening Range Breakout By Tony Crabel
for 30 min ranges

Last edited by jazz; 20-06-2009 at 07:06 PM. Reason: typo
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Old 20-06-2009, 05:50 PM
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More On ORB
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Old 20-06-2009, 06:13 PM
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@ Capricorn,

A correction - It is Toby Crabel and not Tony Crabel.

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Old 10-07-2009, 06:38 PM
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Default

Originally Posted by Capricorn View Post
15 min opening range breakout AFL
change breakoutime for different ranges

Dear capricon,

can u pls share the Tony Crabel's Opening Range Formula Afl

with regards
kirthi
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Old 10-07-2009, 06:43 PM
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Originally Posted by kirthi1987 View Post
Dear capricon,

can u pls share the Tony Crabel's Opening Range Formula Afl

with regards
kirthi

the very first post of this thread has the afl , jus change the range to 103000 since he uses 30 min range

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Old 14-07-2010, 09:51 AM
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Smile How to modify afl to square off al open postions before market close

Hi Jazz,

How can I modify the afl so that all open positions are closed out before market close lets say at 3:15 PM and it doesnot show any further signals for that day?

Thanks
Ash

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Old 14-07-2010, 02:59 PM
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Originally Posted by akshah View Post
Hi Jazz,

How can I modify the afl so that all open positions are closed out before market close lets say at 3:15 PM and it doesnot show any further signals for that day?

Thanks
Ash

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Code:
afterbreakout1 = TimeNum()>= 091500 AND TimeNum()<=151500;
Sell = Cross(orblow,C) AND afterbreakout1 OR Cross(TimeNum(),151500);

Last edited by jazz; 14-07-2010 at 07:05 PM.
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