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thinkorswim Opening Range Breakout (ORB) indicator with target and stop loss

$4.99

The opening range breakout strategy is a popular intra day trading strategy that has been around for some time. This indicator draws levels at the high, low, and target (2x range + high) so you can easily input the prices into the order entry window in ThinkOrSwim. The configurable options include:

  • range start time
    • The beginning of the day’s range (usually at market open, e.g., 0930)
  • range end time
    • The length of range for the strategy you’re trading. A 5 min opening range breakout strategy would use 0935 for this value. A 30 min ORB would use 1000.
  • stop loss padding
    • The amount of padding you would like to give the stop loss. The default is 5 cents below the low of the opening range candle.
  • r value
    • The risk value. If you’re trading 2R all or nothing, you would enter 2 for this value. This would set the target to 2x opening range + high of opening range. 1.5 for this value would set the target to 1.5x range + high of opening range.

Check out my awesome strategy to print money with this indicator.

Installation

In stock

SKU: 170003 Category:

Description

DISCLAIMER: WE ARE NOT CERTIFIED FINANCIAL ADVISORS AND NOTHING IN THIS WEBSITE IS AN ADVERTISEMENT OR RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, AND NEITHER ARE ANY OF THE PRODUCTS OR CONTENTS OF THIS SITE OR OUR SOCIAL MEDIA CHANNELS INTENDED TO INSTRUCT YOU ON HOW TO MAKE TRADING OR INVESTING DECISIONS. We provide custom thinkScripts and tutorials to help people use the ThinkOrSwim trading platform from TD Ameritrade. TD Ameritrade provides financial services including the trading of Stocks, Futures, Options and Forex, and this website is not affiliated with them in any way. None of our products are endorsed by TD Ameritrade or any of its affiliates. Due to the nature of our products being software, our policy is that all sales are final and there are no refunds or exchanges. That being said, we stand behind our work, and we will try to make sure our customers are happy any way we can. The information contained on this website is solely for educational purposes, and does not constitute investment advice. The risk of trading in securities markets can be substantial. You must review and agree to our terms & conditions of use, disclaimers & privacy policy before using this site.

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thinkorswim Opening Range Breakout (ORB) indicator with target and stop loss

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