Tony Crabel's Opening Range Formula

[dryheat]

I have attached an updated version of my formula for the opening range breakouts. There are comments at the top of the formula explaining the changes made to this version.

In summary, this version incorporates a rounding function which can be adjusted in the parameters dialog. Also added was a dual mode exploration. To much detail to explain here but the formula contains very thorough explanation of what it includes and how to run it. Check the version notes at the top for instructions on where to find the exploration comments.

Hope you all are finding this useful. I am looking forward to reading your ideas on how to build a system based on this technique.

Attachment removed. For the current version please Click Here

Dry

 

[Bollis]

You dont get the range if you dont have more then 10days of intraday historic data, on the eleventh day you will get it.

Br Tom

 

[THE LORD]

mr-dryheat im very thankfull to you i think the proplem on the time
i do some changes put i thinke i dont do it 100% im trading and sharting in saudi stock market our market start at 11:00 am and closed at 13:30 pm could you do the changes for me on time according to our market time and thanks all the time to you

 

[dryheat]

mr-dryheat im very thankfull to you i think the proplem on the time
i do some changes put i thinke i dont do it 100% im trading and sharting in saudi stock market our market start at 11:00 am and closed at 13:30 pm could you do the changes for me on time according to our market time and thanks all the time to you

In this code I use two statements to define the open and close of the market. The variables used to store these values are TimeOpen and TimeClose. Open the formula in the editor and search for the following lines of code:

TimeOpen = 093000;
//it is required here to calculate the time stamp of the market Close based on the 
//chart Interval. There are limits to it's ability to adjust to different time 
//intervals AND you should be aware of this. ONLY 3, 5, 7, 10, 15, AND 30 Minute 
//intervals are supported here. 
TimeClose = IIf(Interval() == 420, 155500, 6000-(Interval()/60*100)+150000);

Change TimeOpen to equal 110000, that's the easy part.
Next we need to change three values in the TimeClose statement. This is more complicated as the TimeClose statement is designed to be flexible and adapt to multiple time frames.
Unfortunately we loose the ability to chart the levels on the 7 minute time frame.

Here is the modified code to replace the section above.

TimeOpen = 110000;//093000;
//it is required here to calculate the time stamp of the market Close based on the 
//chart Interval. There are limits to it's ability to adjust to different time 
//intervals AND you should be aware of this. ONLY 3, 5, 10, 15, AND 30 Minute 
//intervals are supported here. 
TimeClose = IIf(Interval() == 420, 132500, 3000-(Interval()/60*100)+130000);
									//420, 155500, 6000-(Interval()/60*100)+150000);

So, find the TimeOpen and TimeClose statements in the formula on your PC and copy the new code and paste it over the original lines and this should be ready to go.

This is certainly a very short time frame for market hours. Only 2.5 hours from open to close. I am interested to see how well this technique works on your market.

Let me know if you run into any other issues.

Dry

 

[THE LORD]

Mr-dryheat im very apricciated to your help now the formula worke 100% im very thankful to you and you do fantastic worke and im very sorry i make alot of prusser to you mr-dryheat let express about my deep thankful for your help .

 

[chintan786]

Hi Friends,

the abv afl doesn't show any values releted to Breakout in my charts.. plz help..

chintan

 

[chintan786]

i have done the changes we require to do in Tools--> Prefrence--->Intraday..

but still... I'm neither getting breakout values nor Getting Pivot Values..

Thanks,

Chintan

 

[Bollis]

i have done the changes we require to do in Tools--> Prefrence--->Intraday..

but still... I'm neither getting breakout values nor Getting Pivot Values..

Thanks,

Chintan

The chart is on 30min, try it out in 5min chart! does it work?

 

[chintan786]

nope.. than even breakout line ( blacke line visible in chrt)....erased from the chart

chintan

 

[dryheat]

Hi Friends,

the abv afl doesn't show any values releted to Breakout in my charts.. plz help..
chintan

The black line you see in your chart is the daily open. I can see from the number of changes in this line you only have about 8 days worth of data loaded. This is also evident by examining the 20 period and 50 period moving averages. I am puzzled though as why you don't have any pivot levels displayed. Even if you turn off the plotting of pivots it will still give you pivot values in the title.
You will need to load at least 11 days worth of data before you begin to see breakout levels. Try that and let me know if your screen shows the breakout levels.

Dry

post edit:
There is something else wrong here. The green bar at the very bottom of your screen should be changing from red to green as you move from left to right. I use the bar at the bottom to indicate green for open market hours and red for non-market hours. Because your screen is showing solid green there is something else needed. I've tried several settings on different time frames and cannot get my screen to show a solid green bar at the bottom. What are the opening and closing times for the market you have charted?