//-----------------------------------------------------//

// Formula Name:
Intraday Opening Range Breakout system
// Author/Uploader: Trading Tuitions
// E-mail:
support@tradingtuitions.com
// Website:
www.tradingtuitions.com
//-----------------------------------------------------function ParamOptimize( pname, defaultval, minv, maxv, step )
{
return Optimize( pname,
Param( pname, defaultval, minv, maxv, step ),
minv, maxv, step );
}
_SECTION_BEGIN("Intraday Opening Range Breakout system");
SetOption( "InitialEquity", 200000);
SetOption("FuturesMode" ,True);
SetOption("MinShares",1);
SetOption("CommissionMode",2);
SetOption("CommissionAmount",50);
SetOption("AccountMargin",10);
SetOption("RefreshWhenCompleted",True);
SetPositionSize(150,spsShares);
SetOption( "AllowPositionShrinking", True );
//--Intraday time frame
TimeFrameSet(in5Minute);
TimeFrameInMinutes = 5;
//--Define all params
EntryBufferPct = ParamOptimize("Entry Buffer %", 0, 0, 2, 0.1);
SLPct = ParamOptimize("SL %", 0.5, 0.5, 2, 0.5);
TargetPct = ParamOptimize("Target %", 3, 0, 3, 0.5);
MaxTarget = 100;
TargetPct = IIf(TargetPct == 0, MaxTarget, TargetPct);
EntryTimeStart = ParamOptimize("Entry Time Start (Minutes)", 55, 5, 120, 5);
EntryBarStart = floor(EntryTimeStart/TimeFrameInMinutes) - 1;
EntryTimeEnd = ParamOptimize("Entry Time End (Minutes)", 70, 10, 300, 10);
EntryBarEnd = floor(EntryTimeEnd/TimeFrameInMinutes) - 1;
EntryBarEnd = IIf(EntryBarEnd < EntryBarStart, EntryBarStart, EntryBarEnd);
//--Plot Price Candle Chart
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Cl
ose %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( Close, "Price", colorWhite, styleCandle );
//--New Day & Time. End Day & Time . End Day & Time is null till end of day 1
NewDay = (Day()!= Ref(Day(), -1)) OR BarIndex() == 0;
printf("\n NewDay : " + NewDay );
EndDay = (Day()!= Ref(Day(), 1));
printf("\n EndDay : " + EndDay );
FirstBarTime = ValueWhen(NewDay,TimeNum(),1);
EndTime = ValueWhen(EndDay,TimeNum(),1);
SquareOffTime = EndTime;
//--Calculate ORB, and SL

HighestOfDay = HighestSince(NewDay,H,1);
LowestOfDay = LowestSince(NewDay,L,1);
ORBH = ValueWhen(NewDay,HighestOfDay ,1) * (1 + (EntryBufferPct/100));
ORBL = ValueWhen(NewDay,LowestOfDay ,1) * (1 - (EntryBufferPct/100));
//--Find Buy, Sell, Short & Cover Signals
BarsSinceNewDay = BarsSince(NewDay);
BuySignal = (H >= ORBH) AND (BarsSinceNewDay > EntryBarStart);
printf("\nBuySignal : " + BuySignal );
ShortSignal = (L <= ORBL) AND (BarsSinceNewDay > EntryBarStart) ;
printf("\nShortSignal : " + ShortSignal );
BarsSinceLastBuySignal = (BarsSince(Ref(BuySignal,-1)) + 1);
BarsSinceLastShortSignal = (BarsSince(Ref(ShortSignal,-1)) + 1);
BarsSinceLastEntrySignal = Min(BarsSinceLastBuySignal, BarsSinceLastShortSignal)
;
BothEntrySignalsNull = IsNull(BarsSinceLastBuySignal) AND IsNull(BarsSinceLastSh
ortSignal); //true for start of Day 1
printf("\n\nBarsSinceNewDay : " + BarsSinceNewDay );
printf("\n BarsSinceLastEntrySignal : " + BarsSinceLastEntrySignal);
Buy = (H >= ORBH) AND (BarsSinceNewDay > EntryBarStart) AND (BarsSinceNewDay <=
EntryBarEnd) AND ((BarsSinceNewDay < BarsSinceLastEntrySignal) OR BothEntrySign
alsNull );
Short = (L <= ORBL) AND (BarsSinceNewDay > EntryBarStart) AND (BarsSinceNewDay
<= EntryBarEnd) AND ((BarsSinceNewDay < BarsSinceLastEntrySignal) OR BothEntrySi
gnalsNull );
BuyPrice = IIf(Buy, Max(ORBH,O), Null);
ShortPrice = IIf(Short, Min(ORBL,Open), Null);
ORBHSL = ValueWhen(BuyPrice,BuyPrice) * (1-(SLPct/100));
ORBLSL = ValueWhen(ShortPrice,ShortPrice) * (1+(SLPct/100));
ORBHTarget = ValueWhen(BuyPrice,BuyPrice) * (1+(TargetPct/100));
ORBLTarget = ValueWhen(ShortPrice,ShortPrice) * (1-(TargetPct/100));
Sell = (L <= ORBHSL) OR (H >= ORBHTarget) OR (TimeNum() > SquareOffTime-1) AND (
BarsSinceNewDay > BarsSinceLastBuySignal);
Cover = (H >= ORBLSL) OR (L <= ORBLTarget) OR (TimeNum() > SquareOffTime-1) AND
(BarsSinceNewDay > BarsSinceLastShortSignal);
SellPrice = IIf(Sell, IIf(H >= ORBHTarget, ORBHTarget, Max(ORBHSL, L)), Null);
CoverPrice = IIf(Cover, IIf(L <= ORBLTarget, ORBLTarget, Min(ORBLSL, H)), Null);
printf("\nBuy : " + Buy );
printf("\nSell : " + Sell );
printf("\nShort : " + Short );
printf("\nCover : " + Cover );
printf("\nORBH : " +
printf("\nORBL : " +
printf("\nBuyPrice :
printf("\nShortPrice

ORBH );
ORBL );
" + BuyPrice );
: " + ShortPrice );

printf("\nORBHSL : "
printf("\nORBLSL : "
printf("\nORBHTarget
printf("\nORBLTarget

+
+
:
:

ORBHSL );
ORBLSL );
" + ORBHTarget );
" + ORBLTarget );

//--Handle if ORB broken both sides on same bar

//--And remove duplicate Sell & Cover signals, since ExRem did not work as neede

d when Buy & Sell on same bar

orbBothSides = IIf(Buy AND Short, 1, 0);
Buy = IIf(orbBothSides AND C <= O, 0, Buy);
Short = IIf(orbBothSides AND C > O, 0, Short);
Sell = IIf(orbBothSides AND C > O AND (L <= ORBHSL), 1, Sell);
Sell = IIf((BarsSince(Buy) < (BarsSince(Ref(Sell,-1))+1)) OR (BarsSince(Buy) AND
IsNull(BarsSince(Ref(Sell,-1)))),Sell,0);
Cover = IIf(orbBothSides AND C <= O AND (H >= ORBLSL), 1, Cover);
Cover = IIf((BarsSince(Short) < (BarsSince(Ref(Cover,-1))+1)) OR (BarsSince(Shor
t) AND IsNull(BarsSince(Ref(Cover,-1)))),Cover,0);
//Plot(IIf(BarsSinceNewDay > BarsSinceLastBuySignal,ORBHSL,NULL),"BuyStopLoss",c
olorRed,styleDashed);
//Plot(IIf(BarsSinceNewDay > BarsSinceLastShortSignal,ORBLSL,NULL),"SellStopLoss
",colorRed,styleDashed);
Plot(ORBH,"",colorBlue,styleDots);
Plot(ORBL,"",colorBlue,styleDots);
/* Plot Buy and Sell Signal Arrows */
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorGreen, 0, L, Offset=-40);
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorLime, 0,L, Offset=-50);
PlotShapes(IIf(Buy, shapeUpArrow, shapeNone),colorWhite, 0,L, Offset=-45);
PlotShapes(IIf(Cover, shapeSquare, shapeNone),colorGreen, 0, L, Offset=-40);
PlotShapes(IIf(Cover, shapeSquare, shapeNone),colorLime, 0,L, Offset=-50);
PlotShapes(IIf(Cover, shapeUpArrow, shapeNone),colorWhite, 0,L, Offset=-45);
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorRed, 0, H, Offset=40);
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorOrange, 0,H, Offset=50);
PlotShapes(IIf(Sell, shapeDownArrow, shapeNone),colorWhite, 0,H, Offset=-45);
PlotShapes(IIf(Short, shapeSquare, shapeNone),colorRed, 0, H, Offset=40);
PlotShapes(IIf(Short, shapeSquare, shapeNone),colorOrange, 0,H, Offset=50);
PlotShapes(IIf(Short, shapeDownArrow, shapeNone),colorWhite, 0,H, Offset=-45);
//--Restore time frame
TimeFrameRestore();
_SECTION_END();