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Opening Range Break Video -update-

Moderators: PGB, CajunDragon, AlexLW, TTW1

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CajunDragon

Post subject: Opening Range Break Video -update-

Posted: Fri Jan 05, 2007 3:07 pm

Site Admin

Joined: Thu Nov 02, 2006 1:17 pm
Posts: 108
Location: Asheville, NC

Had a few e-mails about why my script entered the short after the close of the first bar instead of the second. The video is already sent and published so its to late to fix it but heres why . . .

I'd had the script set to enter at ONE close below or above the range before making the video because I was using 8 minute bars on my chart. So you can use one 8min bar close or two 3 minute bars etc......... On that quick spike on the top side the candle did NOT ever close above the range. So it would of never went long there weather you used a 3m or 8m bar.

Another way some pro traders play it. Is they wait for the price to trade above or below the opening range for a time period of HALF the opening range. So in this case 7.5 minutes if your range is 15minutes.

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