OPEN-SOURCE SCRIPT
Advanced ORB System
Very pleased with this....a highly powerful ORB indicator with tonnes of features to play around with and find the ideal settings for a high win rate!
Timezone function; America/New York. Europe/London etc
One signal per day; stops overtrading
Signal window; select a time window in which buy/sell signals are given
RVOL threshold; only take breakout trades on higher than average volume indicating institutional activity.
HTF bias; choose from daily VWAP, previous day mid point, 1H,2H,4H or 50 EMA.
ADX regime filter; <20 trend is weak, 20-25 trend is forming, >25 strong trend, >40 possibly overextended.
Wick filter; avoid fakeouts with large wicks.
Range size filter; avoid ranges that are too small or too big
These are just half the features that make a great indicator that provides buy/sell signals with a grading score. Play around with the features and find the optimal settings for the highest possible win rate with a backtest feature. I am finding serious results on the 1 minute for France40 with a 92% win rate at a 1:1RR (stop loss at the 61.8% retrace level). Happy trading boys!
Timezone function; America/New York. Europe/London etc
One signal per day; stops overtrading
Signal window; select a time window in which buy/sell signals are given
RVOL threshold; only take breakout trades on higher than average volume indicating institutional activity.
HTF bias; choose from daily VWAP, previous day mid point, 1H,2H,4H or 50 EMA.
ADX regime filter; <20 trend is weak, 20-25 trend is forming, >25 strong trend, >40 possibly overextended.
Wick filter; avoid fakeouts with large wicks.
Range size filter; avoid ranges that are too small or too big
These are just half the features that make a great indicator that provides buy/sell signals with a grading score. Play around with the features and find the optimal settings for the highest possible win rate with a backtest feature. I am finding serious results on the 1 minute for France40 with a 92% win rate at a 1:1RR (stop loss at the 61.8% retrace level). Happy trading boys!
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.