Полезен, но для фондового рынка

The Opening Range Strategy is designed for stocks and indices. Breakout out of a one hour range. The strategy might work for currencies if you take the first 16 hours of a week (Monday afternoon), but this indicator is not designed for it.

How to use the Opening Range Breakout Strategy

The first hour of trading is very often significant for at least half a day, but many times for the whole day. Orientation at the Opening Range is always clever.

Definitions: The Stretch is the point count of the Opening Range, the Stech Projections are the levels Upper Opening Limit + Strech and Lower Opening Limit - Stretch

Picture shows Opeing Range and its Projections.

Interpretation

First two M30 candles form a Doij hourly => range day probable, fake breakouts, too.

Gap of 20 points from last Friday makes a gap close probable => 12400 is probably reached.

Also makes fake breakouts probable.

Lower Opening Range is hardly reached, upper and lower projection never.

Stretch meausres 42 points => stop loss => 21 points, take profit 42 points

=> Bad day for OR-Trading, no movements

Some examples of OR-Breakouts

In the last 3 monts I saw a maximum trading distance of 5 Stretches. Eg. a movement of 100 points with a stretch of 20 points.

It is possible, that the opeing range is crossed many times per halfday.

There are some days where there is too few movement to reach the projections (Mondays?)

Think about to perform a maximum of 3 trades per halfday

Think of Signal Reduction => Trade a few very good signals

Example 1: Monday 17.09.18, fake breakout in Dax, Dow reaches projection

Example 2: Tuesday 18.09.18: Dax reaches projection, Dow doesn't.

I usually trade only the Dax. Dow is only for reference.

OR Tuesday 25.09.18: First falling to the lower projection, then to the upper. 

Opening Range 25.09.18, 11:10 => new breakout to the upper side soon

Expect the Dax to run up to 12390 or 12400 as Dow is retracing from yesterday's dip.

Das statgnates at 12375 and Dow at the 50% retracement of its last dip. I got out of the trade too late. And reentered. May be Dax will be at 12400 at noon.

Up to now (11:48) Dow and Dax had difficulties to rise. Unsure, if Dax rises over 12375 until noon.

Exactly at noon Dax runs over the Opening Range projection. I flatened my trade. Alhough the chance is big it will rise over 12400.

At 12:30 Dax went to 12400 and Dow rose over the 61.8 % Retracement (did mot trade this any more)

Resume of the OR-Strategy

Best time to trade is 9:00 - 13:00

Dax (or other index) stagnates at 50, 75 and 100 levels (because of options and other derivatives which have knockout levels at these numbers)

It is advisable to get out of a trade at these levels and enter again, otherwise stopp loss must be at least 25 points

Classical OR strategy puts stopp loss at lower range boundary. If the strech is small as today (16 points) this is ok. When it is larger take half of the stretch as stop loss is better

It might last a whole mornig to reach a OR-Projection (today it was noon). Toby Crabel recommended only 10 minutes, this is not the case for indices

Watch out for yesterdays movements. Is there a down or upgap? I there a steep fall (eg. Dow) wich is retraced today?

These are the most important points to watch. For currencies you have to take at least 3 H4 candles to get the breakout-levels (I dont have any experience with it)

Opening Range consisting of 3 H4 candles in eurusd (seem reasonable).

Dax at 17:30: It followed the upper and lower projection for the whole day.

Look at the Opening Range Oriented Strategy 

https://youtu.be/SNB7hSydrJY

In the meantime I use the Or-Indicator every day. It works well. What disturbed me ist that the lines disappear when restarting MT5. I will make a change that you can chose if objects should be deleted or not. Second is that the starting price (9:00) is very significant. I will include an option to display it. This line is significant for the selection of a long or a short day.

At the moment you cannot change timeframe as the OR-Lines will disappear. I will change it in a new release.

Changing timeframe now possible

Attention: At the Monemt OR-Indicator can only applied to one asset as the values are saved in a global variable. I will upload a new version next week where the global variables can be prefixed.

An excellent example how the opening range works. Before 9:00 we have an uptrend in German Dax. It rises over VWAP (Swiss VWAPsimple) and turns.