Opening Range Breakout Lines

Disclaimer: Use proper risk management and remember that all trading involves risk.

Based on RicardoSantos' "Open Session Breakout Trader Strategy"

I turned it into a study and tweaked it for trading Silver

My goal when creating this was to help visualize breakout lines for multiple trading days at the same time without having to always draw them in.

Release Notes: Fixed a bug in the default settings where the lines did not update over Christmas day off
Release Notes: Make it easier to see where the bug happened. (white circle)
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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hi i don't understand code can you explain me how this scrip calculate lines(green-red-black) i need it thanks
+7 Reply

I am so grateful that you create the wonderful script. Can you help me to explain the below script.
thank you very much

r = security(tickerid, 'D', atr(100))