Orb stands for opening range break out.
Opening range breakout scanner afl.
Open range breakout or orb is a very common strategy for intraday trading however this need to be coupled with other conditions to make this a profitable strategy.
In this video i am going to discuss how to scan the opening range breakout stocks just in 1 minute.
It takes into account the volatility of first few minutes of trading hours and any breakout above or below the price range of this period is considered as a possible trade.
Intraday open range breakout exploration afl by gms.
Assuming that we decide that the opening range period is 10 minutes.
From the opening high range and low range is.
Enter long when price cross above orbh open range breakout high with a stop loss at orbl once in trade adjust sl as per your risk tollarence level.
Orb open range breakout levels amibroker afl code better version open range breakout is a simple strategy that monitors the first 5min 15min 15min 30min 60min range from the start of the market.
It identifies the highest price and lowest price reached since open upto the start time 2.
You can use the average true range atr to scan for volatile stock.
What s the open range breakout system.
We decide on a period to watch it could be the first 5 10 15 30 60 minutes anything that you decide.
This is a simple intraday orb system.
From the opening high range and low range is calculated for the specified timeframe.
Open range breakout is a simple strategy that monitors the first 5min 15min 15min 30min 60min range from the start of the market.
This scanner only works in live market data feed for ami.
Sir kindly post the performance of your breakout afl for the period 1 1 2013 to 31.
This afl will provide the buy sell signals with the breakout detection of the opening candle.
In this opening range breakout afl you can set the top and bottom price to wait for a possible breakout.
I have posted the code in the screener page to show how to use it.
Most of the afl code found on the internet is either buggy or not suitable for building back testable trading systems.
Afl afl free aflcode amibroker breakout open range breakout orb defnition of the afl.
