Dr. Fib - FGBAB - Open Range Breakout for Stocks V1.0

This Open Range Breakout Indicator (ORB) helps your discretionary trading when looking for breakouts on the 15 mins range.

This indicator helps your discretionary trading by allowing visual settings that helps discretionary trades to make faster decisions.

It will provide you will the following on-screen information:

- ORB HIGH and LOW: The Open Range Breakout set by the input parameters, for example the first 15 mins RTH Open from 9:30 to 6:45.-

- ORB MID: The ORB mid point for reference, generally the price tends to return and bounce from the 50% ORB.

Reward to Risk posible targets for LONG and SHORT trades: This will provide target value references, it is based on the ORB Risk from high to low, you have 1:1, 2:1, 3:1 and 4:1 possible targets in both directions.

Reference table:

The reference table is a visual setting for you to have at first sight important information before considering getting into the trade:

- ORB HIGH and LOW.
- Risk in points.
- Risk in USD.
- Amount of shares considering the MaxRisk input parameter you select.
- The current LIVE R:R based on the entry, if price is abobe ORB High it will simulate a LONG position is price is below the ORB Low it will simulate a SHORT position,
- The LIVE profit simulation based on the above.
- MaxRunUP, the highest equity the trade simulation has produced.
Direction: The current trade direction simulation based on the ORB HIGH or ORB LOW.

Keep in mind this indicator is a "gauge" a visual help for discretionary traders that like to trade Open Range Breakout strategy.

It will reset the ORB at RTH Close and build a new ORB at next calendar day based in the ORB time you have selected by the input parameters.

Please feel free to use in your own trading at your discretion.