OPEN-SOURCE SCRIPT
Mis à jour ORB 15 Min By EquityDurai
#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.
#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.
Notes de version
#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.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.