Open Range Breakout with TSL — Indicator by u_jalan

momentum averagetruerange highlowindex orb breakout trailingstop

This ORB with TSL Indicator Session Time is Indian NSE and BSE Equity Market

This indicator Provide you 2 type Setup
Opening Range Plot Only for Observation
1st Range Breakout = Long
2nd Range Breakout = Short

How to work This Indicator?
When Market is Open This Indicator automatically Plot Opening Range High and Low,
if Market bullish & Candle Close above Opening Range high When This Indicator automatically Plot 1st Range High and Low if You Want to 1st Range High Plot Crossingup any Candle You can Also Add Alerts
if Market Bearish & Candle Close Below Opening Range Low When This Indicator automatically Plot 2nd Range High and Low if You Want to 2nd Range Low Plot CrossingDown any Candle You can Also Add Alerts

If you Have any Suggestion please mention here
Thank you so much

This Also Automatically start trailing SL on basis of ATR

Release Notes:

Now you have choice for Trailing Stop Loss:

1. Choice ATR : Can adjust ATR Value
2. Choice Range : Range will be Opening Range difference
3. Choice Point : You can adjust Trail Stop by Points also.

Hope these change will be helpful.

Protected script

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Disclaimer

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