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First Candle

samscripter  
Candlestick analysis Chart patterns firstcandle opencandle orb openrangebreakout openrange daycandle
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candlestickanalysis chartpatterns firstcandle opencandle orb openrangebreakout openrange daycandle
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.

snapshot

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.

snapshot
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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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