Open Range BreakOut Study (ORBO) was designed for an OTA MasterMind student to harness the ability to trade multiple assets simultaneously and to minimize morning setup time. ORBO has now been fully automated for Entries and Exits using advanced object oriented coding and algorithms.

This study has the flexibility to do multiple breakout styles depending on the Traders ORBO strategy. If a Trader so chooses to do a five minute ORBO, the Indicator can simply be changed in the inputs to accommodate this. This is also true if the Trader wishes to use a 15 minute or even a 30 second ORBO strategy.

This indicator only runs between the user Inputs iBrkOutTime & iStopTime and then lays dormant until 6pm where all the internal variables reset themselves for next day of processing.

At iBrkOutTime each new day, the indicator comes to life and the lines are created instantly at the ORBO candlestick. At the close of each bar the lines are extended. Initially, however, the Right Extension is applied to the lines so that they fully extend to the right of the chart providing clear visual for the Breakout. iExtensionTime allows you to control/alter how long you want to Right Extend these lines and will help keep your charts cleaner. It is favorable to ensure iStopTime is greater than iExtensionTime.

Open Range BreakOut (ORBO)
ORBO Article
Risk Disclaimer Documentation
Risk
Disclaimer

Features:

  • Automation Ready, let the Algo trade it for you!
  • Works with TradeStation versions 9.5 & 10
  • Works on all intraday ORBO time frames
  • Customizable Daily ATR Targets
  • Customizable Reward to Risk Targets
  • Customizable Stop Loss Lines
  • User Inputs for Stop Loss Tick Offset
  • Use either Price or Cash Value on Lines
  • Customizable line and text properties
  • Customizable line extension based on time
  • All Lines are fully customizable
  • Works on all intraday charts and time frames
  • Vertical Line appears at close of ORBO candle to indicate "Time to Trade!"
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ORBO Quick Chart Setups

NASDAQ (NQ) 15 Min ORBO Quick Setup

  • Open an NQ chart and change the Timeframe to 15 Minutes
  • Change the User Input iBrkOutTime to "09:15:00"
  • Crude Oil (CL) 5 Min ORBO Quick Setup

  • Open an CL chart and change the Timeframe to 5 Minutes
  • Change the User Input iBrkOutTime to "09:05:00"
  • S&P (ES) 1 Minute ORBO Quick Setup

  • Open an ES chart and change the Timeframe to 1 Minute
  • Change the User Input iBrkOutTime to "09:01:00"
  • Open Range BreakOut Media

    STANDARD

    $29.991 Month License

    • Unlimited Usage
    • Unlimited Version Release
    • Source Code NOT Included
    • Ownership NOT Included
    • Algorithm NOT Included
    • Discounts Unavailable

    PREMIUM

    $239.991 Year License

    • Unlimited Usage
    • Unlimited Version Release
    • Source Code NOT Included
    • Ownership NOT Included
    • Algorithm NOT Included
    • Discounts Available

    ULTIMATE

    $479.992 Year License

    • Unlimited Usage
    • Unlimited Version Release
    • Source Code NOT Included
    • Ownership NOT Included
    • Algorithm NOT Included
    • Discounts Available



    Discount Incentives: We offer Student & Military Discounts for PREMIUM & ULTIMATE Licenses only. Please Contact Us for an individual invoice.

    DISCLAIMER

    Algo Chart Pro is a software company. We are not in the business of providing financial or investment advice, nor are we registered with the proper authorities to do so. The product we provide (both the software and its associated documentation, examples, etc.) is for educational purposes only and should never be construed as providing trading or investment recommendations or advice. Any decisions you make using this product are made at your own risk and are yours and yours alone. Remember that trading is inherently risky, and traders may sustain losses greater than their investments regardless of which asset classes are traded. Before trading, carefully consider the risks involved in light of your financial condition and never trade money you can't afford to lose.

    Required US Government Disclaimers: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed here. The past performance of any trading system or methodology is not necessarily indicative of future results.

    CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN ACTUALLY EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.