Tony Crabel's Opening Range Formula

[dryheat]

DH,
do you have any results to share on Nifty backtesting?Any charts/stats please?

I have not done any backtesting on Nifty. The sample data I received was much to small to accomplish anything of this sort. But from taking a look at the charts it appears the Nifty if very well suited for Toby Crabel's price patterns.

Hello Dryheat,
Do you have this code for tradestation too? I have Toby's book; read it a while ago...concepts work very well for range contraction, range expansion and the like in all time frames.

Thanks so much
Shreenath

I do not. I have never worked in tradstation and would not have any ideas on what it would take to convert this to tradstation code.

Dry

 

[Shreenath]

Dry
Thank you for your reply. I can make a cursory search on TS forum and if not available, could post your code there and get someone to program it. I've come across some smart brains there.....doesnt necessarily mean they trade well through

Did you come across intraday nifty fifty data? Live data source would be even better......I can import it as an asci file and use it through a third party source to chart on TS......


Regards
Shreenath

I have not done any backtesting on Nifty. The sample data I received was much to small to accomplish anything of this sort. But from taking a look at the charts it appears the Nifty if very well suited for Toby Crabel's price patterns.



I do not. I have never worked in tradstation and would not have any ideas on what it would take to convert this to tradstation code.

Dry

 

[kirthi1987]

I have not done any backtesting on Nifty. The sample data I received was much to small to accomplish anything of this sort. But from taking a look at the charts it appears the Nifty if very well suited for Toby Crabel's price patterns.



I do not. I have never worked in tradstation and would not have any ideas on what it would take to convert this to tradstation code.

Dry

dryheat pls try out afl that works any stocks/indices on indian stock market
pls do it ur work on nifty is good but it is showing small target y don't u try for long /big targets

pls do it
thank u once again for ur work and sharing :thumb:

 

[dryheat]

dryheat pls try out afl that works any stocks/indices on indian stock market
pls do it ur work on nifty is good but it is showing small target y don't u try for long /big targets

pls do it
thank u once again for ur work and sharing :thumb:

If you would be so kind as to send me some intra-day data to use as a test I would very much like to test my code on various Indian stocks and indexes. You can send the data to the email address embeded in the comments section of the code you downloaded. Or you can upload the data to a file sharing site so I can download it.

In regards to the target. I can easily make the target adjustable from the parameters window. The most logical way to do this would be to use a multiplier. A multiplier of 1 would use the target as it is with no adjustment. A multiplier of 0.5 would move the target half way between it's normal position and the market open.

Once I have the intra-day data for the stocks and indexes of your desire I can work out the rest.

Thanks again for useful feedback.

Good trading.

Dry

 

[ag_fx]

DryHeat,

I have sent you the Nifty futures data for past one year. i hope you can run the AFL and get some backtest results.

I can send more data for the said period for other cash stocks too if required by other members for you to test.Just let me know here.

Happy Trading

 

[lazytrader]

Can one of you back test this formula and find out if Crabels method provides any substantial profits over it? I don't have Amibroker.

The change is the value to be taken is 5% of EOD ATR instead of Crabels formula for breakout everything else remains the same.

 

[ag_fx]

Can one of you back test this formula and find out if Crabels method provides any substantial profits over it? I don't have Amibroker.

The change is the value to be taken is 5% of EOD ATR instead of Crabels formula for breakout everything else remains the same.

I think that will be pretty different..Coz in crabel, we take minm range for last 10 days and den decide on breakout levels...

using ATR(10) will be a differnt approach all together I guess..

What say?

 

[lazytrader]

I think that will be pretty different..Coz in crabel, we take minm range for last 10 days and den decide on breakout levels...

using ATR(10) will be a differnt approach all together I guess..

What say?

It is different no doubt. What I want to know is when you have a opening range on nifty, lets say, o=4450, h=4465 l=4440 which is a 25pt opening range.
Now lets Crabels formula gives you a value of 10 then you go long over 4475 and short below 4430, right?

What I want to know is whether using a value or 5 or 0 produces results that are significantly different? All I want to know is what is the idea behind using the method mentioned in post 1 for calculation of the filter?

 

[ag_fx]

It is different no doubt. What I want to know is when you have a opening range on nifty, lets say, o=4450, h=4465 l=4440 which is a 25pt opening range.
Now lets Crabels formula gives you a value of 10 then you go long over 4475 and short below 4430, right?

What I want to know is whether using a value or 5 or 0 produces results that are significantly different? All I want to know is what is the idea behind using the method mentioned in post 1 for calculation of the filter?

I dont know if using a filter will make a difference,...bt i have heard that some multiplying factor is generally used with the open range to improve results....i dont have any concrete results/value for indian markets though.

 

[lazytrader]

I dont know if using a filter will make a difference,...bt i have heard that some multiplying factor is generally used with the open range to improve results....i dont have any concrete results/value for indian markets though.

That's why if someone tried it with Amibroker aleast for nifty futures it would be good. That way we can start using it when trading futures or use it as a supporting trigger. Since I dont have Amibroker it would be good if someone who has the data and know Amibroker scripting can help.

BTW thanks for the futures data.