OPEN-SOURCE SCRIPT
Opening Range Breakout + VWAP + Volume
This indicator triggers when all of the following conditions are met:
1. Price breaks above the 30-minute opening range high
1a. Opening Range = 9:30 am to 10:00 AM EST
1b. breakout = close above the high of this range
2. Current bar volume is at least 1.5x the average volume of the opening 30 minute range
3. Price is currently above VWAP
4. Its within the first 2 hours of the regular session (before 11:30 AM EST)
Confirmation on buying pressure: Breakout bar closes within the top 50% of its range.
1. Price breaks above the 30-minute opening range high
1a. Opening Range = 9:30 am to 10:00 AM EST
1b. breakout = close above the high of this range
2. Current bar volume is at least 1.5x the average volume of the opening 30 minute range
3. Price is currently above VWAP
4. Its within the first 2 hours of the regular session (before 11:30 AM EST)
Confirmation on buying pressure: Breakout bar closes within the top 50% of its range.
Open-source script
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.
Disclaimer
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.
Open-source script
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.
Disclaimer
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.