kviateq

London Open Range Breakout by Kviateq

This script is what I currently use to day trade forex on a 5-minute timeframe.

The script features Multi-timeframe EMA20 that uses timeframe multipliers and is smoother by the factor by which you're multiplying your current timeframe.

Default settings are set to display EMA20 on the current (M5) timeframe, as well as M15, H1, H4 and D1 timeframes.

The background color changes intensity based on how many conditions are met - are all EMAs in the right order, is the current close above/below all the EMAs.

Featured is also a range set to 1 hour since the London breakout (can be changed to M15, or however long you'd like - my current setting is 30 minute).

Also featured are levels that I find to be of most importance - such as Daily and Weekly Open, Previous Day's and Week's Highs.

The idea is to only take trades when all stars align - EMAs, break above/below the Opening Range and not to long/short into an important level.
Versionshinweise: A minor fix in the code added
Versionshinweise: Minor Code updates
Versionshinweise: Extended Weekly and Daily Highs and Lows
Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?

Kommentare

Looks great!

I just don't understand the colors ;)

(And it is similar to my own script plus ideas needed to implement...)
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Thank you for sharing this. Seems nice and light even with these great features.
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@MBBT, My pleasure. Hope you find it useful
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I'm working on an accompanying script that features Monthly and Weekly Opening Ranges as well as Monthly levels. These scripts compliment each other and add another level of understanding the market.
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