Opening Range Breakout -- FOR FUTURES, COMMODITIES, AND STOCKS/ETFs
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Manufacturer: Murray Ruggiero
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The concept of opening range breakout (ORB) is popular within the trading community. The premise of it is very simple: what happens during the first 15 minutes (or first 30 minutes) of a stock’s opening can be predictive of the price movements expected for the day. A range is calculated for the first timeframe and then that range is added to the high and low prices within the first timeframe. A buy order is placed at the high range and short order is placed at the low range. If the price falls back to the middle, then the order is canceled. As a quick example, suppose a stock opened at $100 and within the first thirty minutes bounced between $101 and $99. We would then have a range of $2. We would add that to our high so that H = $103 and our low so that L = $97. If the price exceeds H ($103) we would enter a buy order. If the price goes below L ($97) we would go short. If the price goes back to $100 we would close out the trade. Additionally, all trades are closed at the end of the day regardless of how much money they have made. For commodities traders and/or stock traders, our new Dynamic Open™ technology means that you can use opening range breakout on commodities. For years, ORB has not worked on commodities due to the fact that futures no longer have open outcry. Almost all of the futures markets are now 100% mechanical and 24 hours. These markets close for 45 minutes to a few hours before reopening. This means we do not have a true opening time. Dynamic Open™ is a revolutionary new trading technique that looks at price and volume patterns to find a point which will act as a psychological open point for tomorrow. The time of the open is known for the next session after the last session has closed. This Dynamic Open works very well and offers a predictive power equal to or better than the old open before the electronic markets. In fact, it works so well that everyone who purchases this code must sign an NDA before they will be sent their copy electronically. Want proof? Check out our results below: Classic Open Dynamic Open™ Market Net Profit Avg. Trade Net Profit Avg. Trade Increase Using Dynamic Open™ Corn $10,650.00 $19.09 $49,037.50 $81.19 $38,387.50 Soy Bean $22,462.50 $37.63 $72,300.00 $119.31 $49,837.50 Wheat $17,575.00 $33.10 $76,950.00 $135.71 $59,375.00 Crude ($75,050.00) ($121.24) $6,730.00 $11.50 $81,780.00 Live Cattle $12,720.00 $22.55 $30,440.00 $55.75 $17,720.00 Gold ($5,670.00) ($10.04) $43,640.00 $84.74 $49,310.00 US $8,687.50 $15.08 $12,562.50 $22.12 $3,875.00 We can see that Dynamic Open™ beats the classic opening range breakout formula for all the market we tested. In many cases, we see that the results are greatly better. On grains we can make 2.5 to 4.5 times our money. We can also see that in some markets the current opening range breakout formula loses a lot of money, but it is profitable using our technique. This toolbox includes everything you need as a commodities trader to implement opening range breakout into your commodities systems or to develop new systems based on it. This allows for the same type of systems to be built that great traders like Toby Crabel, Larry Williams, and Sheldon Knight used to win competitions and deliver fantastic results. In addition to Dynamic Open™, those who purchase this software from us will get all the necessary tools to construct and tweak stock-based systems as well. We are offering this software to the first 100 buyers for an incredible price of just $299. After that, we will stop selling this incredible technology and it will only be available as part of systems we sell that might cost thousands of dollars or more. Also, this toolkit makes it extremely easy to code your own intraday opening range breakout strategies or to tweak one of the shell strategies included with the toolkit. This software, written exclusively for TradeStation, provides the following shell strategies: Crabel-based Strategies Included With This Package: ORB_CrabelStretchSimple: This is a very simple opening range breakout using the Crabel formula for a 10 day average using the previous days’ high, open, low, and close. ORB_CrabelStretchCond: This is like the simple strategy above but includes a filter for when you closed higher than the open. ORB_CrabelNRStretchSimple: This is like the strategy above but with another added filter that requires the entry to be only if the previous day was the narrowest range day in the past X days. ORB_CrabelWRStretchSimple: Similar to the strategy above, except for the narrowest day range, we’re looking for the widest day range. ORB_CrabelStretchMAFilter: Extends the ORB_CrabelStretchCond system but adds a moving average filter to the process. ORB_CrabelNRStretchMAFilter: Like the ORB_CrabelNRStretchSimple but also adds the moving average filter. ORB_CrabelWRStretchMAFilter: Like the ORB_CrabelWRStretchSimple but also adds the moving average filter. Knight-based Strategies Included With This Package Sheldon Knight is a trader you might not have heard of but in late 1980s, he took $50,000 to $1.4 million using a formula included with this package. ORB_KnightBreakout: This is a very simple opening range breakout using the Knight Stretch formula. ORB_KnightBreakoutCond: This is like the simple strategy above but includes boolean expressions on entry as a filter. This allows you to test some cool ideas without coding. ORB_KnightBreakoutMA: Adds a moving average filter to the basic Knight strategy listed first. Williams-based Strategies Included With This Package These are the strategies that Larry Williams used to win the 1987 Robbins world cup in which he turned $10,000 into $1.1 million. ORB_LWVolxbreakSimple: Simple volatility expansion off the open system with no filters except for Williams’ basic ones. ORB_LWVolxbreakCond: Adds boolean expressions to trivially add a buy or sell filter. ORB_LWVolxbreakMAFilter: Adds a moving average filter to the simple strategy listed first.
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