Openrange — Penunjuk dan Strategi

Open Range Breakout Strategy With Multi TakeProfit Hello everyone, For a while, I’ve been wanting to develop new scripts, but I couldn’t decide what to create. Eventually, I came up with the idea of coding traditional and well-known trading strategies—while adding modern features such as multi–take profit options. For the first strategy in this series, I chose the Open Range Strategy . For those unfamiliar with it, the Open Range Strategy is a trading approach where you define a specific time period at the beginning of a trading session—such as the first 15 minutes, 30 minutes, or 1 hour—and mark the highest and lowest prices within that range. These levels then act as reference points for potential breakouts: if the price breaks above the range, it may signal a long entry; if it breaks below, it may indicate a short entry. This method is popular among day traders for capturing early momentum in the market. Since this strategy is generally used as an intraday strategy , I added a Trade Session feature. This allows you to define the exact time window during which trades can be opened. Once the session ends, all positions are automatically closed, ensuring trades remain within your chosen intraday period. Even though it’s a relatively simple concept, I’ve come across many different variations of it. That’s why I created a highly customizable project. Under the Session Settings, you can select the time window you want to define as your range. Whether it’s the first 15-minute candle or the entire first hour, the choice is entirely yours. For stop-loss placement, there are two different options: Middle of the Range – The stop loss is placed at the midpoint between the high and low of the defined range, offering a balanced buffer for both bullish and bearish setups. Top/Bottom of the Range – The stop loss is placed just beyond the range’s high for short trades or just below the range’s low for long trades, providing a more conservative risk approach. I’ve always been a big fan of the multi take-profit feature, so I added two different take-profit targets to this project. Take profits are calculated based on a Risk-to-Reward Ratio, which you can adjust in the settings. You can also set different position sizes for each target, allowing you to scale out of trades in a way that suits your strategy. The result is a flexible, user-friendly strategy script that brings together a classic approach with modern risk management tools—ready to be tailored to your trading style

Key Prices & Levels This indicator is designed to visualize key price levels & areas for NY trading sessions based on the price action from previous day, pre-market activity and key areas from NY session itself. The purpose is to unify all key levels into a single indicator, while allowing a user to control which levels they want to visualize and how. The indicator identifies the following: Asia Range High/Lows, along with ability to visualize with a box London Range High/Lows, along with ability to visualize with a box Previous Day PM Session High/Lows Current Day Lunch Session High/Lows, starts appearing after 12pm EST once the lunch session starts New York Open (8:30am EST) price 9:53 Open (root candle) price New York Midnight (12:00am EST) price Previous Day High/Lows First 1m FVG after NY Session Start (after 9:30am), with the ability to configure minimum FVG size. Opening Range Gap, showing regular market hours close price (previous day 16:15pm EST close), new session open price (9:30am EST open) and optionally the mid-point between the two Asia Range 50% along with 2, 2.5, 4 and 4.5 deviations of the Asia range in both directions Configurability: Each price level can be turned off Styles in terms of line type, color Ability to turn on/off labels for price levels and highlighting of prices on price scale Ability to control label text for price levels How is it different: Identifies novel concepts such as 9:53 open, root candle that can be used as a bounce/resistance area during AM/PM sessions as well as confirmation of direction once closed over/under to indicate price's willingness to continue moving in the same direction. It also shows 1st 1m FVG after New York Session open, that can be used to determine direction of the price action depending on PA's reaction to that area. While both 9:53 and 1m FVG are 1m based markers, these levels are visualized by the indicator on all timeframes from 15s to 1h. Additionally the indicator is able to both highlight key prices in the price scale pane as well as combine labels to minimize clutter when multiple levels have the same price. Lastly for in-session ranges such as Lunch High/Low the indicator updates the range in real-time as opposed to waiting for the lunch session to be over.

First Candle Day first candle breakout Indicator In this indicator script, we search for the high and low of the first candle of the day. After the breakout of either the high or low, we initiate a trade. This indicator is based on the breakout of the opening range of the first candle. Buy Breakout - 1. Identify the high and low of the first candle of the day. 2. If there is an upside breakout, or a downside breakout, stop extend the high and low accordingly. Sell Breakout - 1. Identify the high and low of the first candle of the day. 2. If there is a downside breakout or an upside breakout, stop extend the high and low accordingly.

High & Low Of Custom Session - OpeningRange Breakout (Expo)High & Low Of Custom Session - OpeningRange Breakout (Expo) prints the high and the low of a custom session. I use the indicator to trade the re-test of opening range (high/low) as well as breakouts from the opening range. The same logic can be applied to the session you have chosen. HOW TO USE 1. Use the indicator to trade the re-tests of the session range. 2. Use the indicator to trade breakouts of session range. INDICATOR IN ACTION 1-min chart I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks! I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments! ----------------- Disclaimer Copyright by Zeiierman. The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. My scripts/indicators/ideas are only for educational purposes!