ORB Opening Range Breakout 5 and 3O Minute Indicator
Kudos to Chris Moody for the inspiration to create my first indicator.
The 5 and 30 run together at times but the scalp would be when the equity breaks the 5 go long or short for the scalp and when it breaks the 30 go for the swing trade.
Kudos to Chris Moody for the inspiration to create my first indicator.
The 5 and 30 run together at times but the scalp would be when the equity breaks the 5 go long or short for the scalp and when it breaks the 30 go for the swing trade.
study(title="GS_Opening-Range-V1", shorttitle="GS_OpenRnge-V1", overlay=true)
up30on = input(false, title="30 Minute Opening Range High")
down30on = input(false, title="30 Minute Opening Range Low")
up5on = input(true, title="5 Minute Opening Range High")
down5on = input(true, title="5 Minute Opening Range Low")
is_newbar(res) => change(time(res)) != 0
adopt(r, s) => security(tickerid, r, s)
high_range = valuewhen(is_newbar('D'),high,0)
low_range = valuewhen(is_newbar('D'),low,0)
high_rangeL = valuewhen(is_newbar('D'),high,0)
low_rangeL = valuewhen(is_newbar('D'),low,0)
up = plot(up5on ? adopt('5', high_range):na, color = lime, style=circles, linewidth=4)
down = plot(down5on ? adopt('5', low_range): na, color = #DC143C, style=circles, linewidth=4)
trans30 = up30on ? 75 : 100
fill(up, down, color = white, transp=trans30)
up30 = plot(up30on ? adopt('30', high_rangeL): na, color = #7FFF00, style=circles, linewidth=2)
down30 = plot(down30on ? adopt('30', low_rangeL): na, color = red, style=circles, linewidth=2)