5 Minute Opening Range Breakout
This creates a gap reversal pattern on the chart. To trade the opening range breakout, I prefer to use a 5 minute bar chart and place a buy stop a few ticks above the highest price reached during the previous six bars and simultaneously place a sell stop a few ticks below the lowest price reached during the past 6 trading bars Basic Opening Range Breakout Strategy. This is where you have to adjust. Why it works: Overnight orders accumulate.Those orders being placed during the first 15 minutes of Regular Trading Hours combined with the typical high volume in the first 30 minutes of trading make this the most volatile trading period of 5 minute opening range breakout the day Next, you can then trade the first 20 to 30-minute range or 60-minute. 5 EMA line should be above the opening range at the time of breakout. Mountain_Pass.pdf 453.12 kB · 29 downloads.Price must create a 5 minute range significantly smaller than the daily ATR (opening 5 minute candle [High-low]) Price may trade within the range, or breakout of said range. Draw a horizontal line at this level. Mountain Pass.
If you look at Candle 1, it is the first Candle on 5 minute chart that defines the Opening range for the day. High of Day Break / Low of Day Break. I purposely chose a stock where the open had a low that was lower than the low of the previous days close. Booking Profits. After the first five minutes calculate the average range for this 5-minute bar. Opening Range Breakout Strategy - Covered 3 Simple Rules in this Intraday Trading Strategies video. 10-minutes, 15-minutes even 30-minutes Here is a scanner for the ORB indicator (Opening Range Breakout) that you can run in your ThinkorSwim. HOD_LOD_Breaks.pdf 415.08 kB · 31 downloads. 5 minute opening range breakout