OPEN-SOURCE SCRIPT
Intraday ORB Breakout Indicator
This is an intraday indicator works in a 15-minute timeframe.
Timeframe - 15 min
IB Range - 1-hour range after the market opens in India (i.e. 9.15 to 10.15 AM range)
If the price shows a breakout of IB High or a breakdown of IB low and the breakout/breakdown candle has less than 20% of the wick (selling wick in breakout and buying wick in breakdown) in a 15-minute chart, then it will set a flag or alert mechanism on the chart with 'Long' or 'Short' terms. It also marks the IB range (9.15 to 10.15 AM range) with two simple lines.
Traders should wait for the break of the high of the breakout candle or the low of the breakdown candle to take their trades. Besides, one should follow proper risk management rules when making trades.
// Disclaimer: This indicator is for educational purposes only.
// I am not responsible for any financial losses incurred from its use.
Timeframe - 15 min
IB Range - 1-hour range after the market opens in India (i.e. 9.15 to 10.15 AM range)
If the price shows a breakout of IB High or a breakdown of IB low and the breakout/breakdown candle has less than 20% of the wick (selling wick in breakout and buying wick in breakdown) in a 15-minute chart, then it will set a flag or alert mechanism on the chart with 'Long' or 'Short' terms. It also marks the IB range (9.15 to 10.15 AM range) with two simple lines.
Traders should wait for the break of the high of the breakout candle or the low of the breakdown candle to take their trades. Besides, one should follow proper risk management rules when making trades.
// Disclaimer: This indicator is for educational purposes only.
// I am not responsible for any financial losses incurred from its use.
Script de código aberto
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