Click here to Login








Opening Range Breakout Indicator

by QuantShare, 4698 days ago
Share |






The opening range breakout is a trading indicator that returns true when a stock, an ETF or any other asset breaks the high or low of the first hours or minutes of a trading session (opening range).

You define a number of minutes and the indicator plots the high and low of the opening range (When applied to an intraday chart) and returns a signal when the price closes above the high or below the low.

As I said previously, the opening range period is defined by the function argument: number of minutes. To detect one-hour opening range breakout, simply set "60" as parameter in the trading indicator function.

It is important to keep in mind that any other time-series or technical analysis indicator can be set in place of the close series. You can for example detect opening range breakout of the volume.

The function name is "OpenRangeBreakout" and the previous example could be written as:

rule = OpenRangeBreakout(volume, 60) == 1;

Here is an example of a trading strategy based on the opening range breakout:
Buy = OpenRangeBreakout(close, 60) == 1 && volume > 10*sma(volume, 5);
The trading system enters a long position when an opening range breakout occurs with a high increase in trading volume.
Note that the opening range breakout return 1 when it detects a breakout from the high. It returns -1 when it detects a breakout from the low.


Share This ->
Share |


You have to log in to bookmark this object
What is this?
Additional Information




Type: Trading Indicator

Object ID: 1068


Country:
All

Market: All

Style:
Technical Analysis

Reviews
You must log in first

Join now
and get instant access for free to the trading software, the Sharing server and the Social network website.
Click here


Related objects
Show All
Demand Index (by Brian Brown, uploaded several months ago)
No notes

Rate an item Rate an item Rate an item Rate an item Rate an item Number of downloads 67 Notes Report an item
Volume * Price Momentum Oscillator (by Brian Brown, uploaded several months ago)
No notes

Rate an item Rate an item Rate an item Rate an item Rate an item Number of downloads 31 Notes Report an item
VWAP - Volume-Weighted Average Price (by Brian Brown, uploaded several months ago)
No notes

Rate an item Rate an item Rate an item Rate an item Rate an item Number of downloads 72 Notes Report an item
Auto Support and Resistance Indicator (by QuantShare, uploaded several months ago)
No notes

Rate an item Rate an item Rate an item Rate an item Rate an item Number of downloads 60 Notes Report an item
Stock Trading Above/Below its Moving Averages (by QuantShare, uploaded several months ago)
No notes

Rate an item Rate an item Rate an item Rate an item Rate an item Number of downloads 33 Notes Report an item
Keltner/Bollinger Bands Squeeze (by Brian Brown, uploaded several months ago)
No notes

Rate an item Rate an item Rate an item Rate an item Rate an item Number of downloads 83 Notes Report an item
Relative Performance against a Group of Stocks (by QuantShare, uploaded several months ago)
No notes

Rate an item Rate an item Rate an item Rate an item Rate an item Number of downloads 28 Notes Report an item
Number of reviews
Click to add a review
Average rate
Click to rate this item
Number of times this object was downloaded
Number of rates the current object received
Report an object
if you can't run it for example or if it contains errors
Click to report this object

Technical Analysis


Fundamental Analysis



Random Blog Posts

How to choose which technical indicators to use in your trading system

4 indicators to create adaptive trading systems

How to create buy and sell trading rules based on News Data

3 ways to rank stocks in a trading system - Simulator and Potfolio

4 original breadth indicators you should consider in your market timing strategy

Basic trading system implemented using the money management tool

Example of a trading system implemented in QuantShare Software

Different periodicities and chart bar types in QuantShare Trading Software

Show All

Number of reviews
Click to add a review
Average rate
Click to rate this item
Number of times this object was downloaded
Number of rates the current object received
Report an object
if you can't run it for example or if it contains errors
Click to report this object






QuantShare
Product
QuantShare
Features
Create an account
Affiliate Program
Support
Contact Us
Trading Forum
How-to Lessons
Manual
Company
About Us
Privacy
Terms of Use

Copyright © 2024 QuantShare.com
Social Media
Follow us on Facebook
Twitter Follow us on Twitter
Google+
Follow us on Google+
RSS Trading Items



Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.