OPEN-SOURCE SCRIPT
已更新 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.
版本注释
#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.
开源脚本
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
免责声明
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
开源脚本
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
免责声明
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.