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This indicator supports autotrading.
(Click or Tap to learn more)

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OPENING RANGE / PRE MARKET BREAKOUT

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• Deep Backtesting feature allows to see if there is a long-term potential in a strategy
• Great for intraday day trading style, for Indices, Stocks and Commodities
• Full-cycle trading system, with labels and alerts from trade open to trade close
• Provides TP (Take-Profit) and SL (Stop-Loss) levels at trade open alert
• Every calculation is done on a confirmed closed candle bar, so the indicator will never repaint
• Works on the most popular timeframes: 1M, 3M, 5M, 15M, 30M, 45M

NOTE: At position open - there will be calculated Take-Profit and Stop-Loss targets, however each target is considered hit, when candle bar closes breaking that target, so Take-Profit and Stop-Loss when hit will slightly differ then levels at position open!

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      Our product stands out by providing Backtesting results for every Trading Strategy, validating the potential of our algorithms. While there's inherent risk in any investment and our approach is certainly riskier than 1.5-5% Certificate of Deposit (CD), it offers more promising outcomes based on historical patterns. This potential is notable in cryptocurrencies, futures, FOREX pairs, indices, stocks and commodities.

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Trading Strategies
(Click or Tap to expand)

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Technical Info Instructions How-to

(Click or Tap to expand)

Indicator Main Features

• Opening/Pre-Market Price Range levels for breakout trade signals.
• AI selected dynamic S&R (Support and Resistance) levels, which can be used as well for additional TP (Take-Profit) and SL (Stop-Loss) levels calculation.
• Smart Breakout feature with confirmation bounce and a subsequent confirmation breakout.
• 3 TP (Take-Profit) systems and 6 SL (Stop-Loss) systems, static/dynamic/trailing, Automated ATR (Average True Range) trailing SL (Stop-Loss), which can be set to switch on at no optimal S&R (Support and Resistance) levels, minimizing the risk.
• Single or Multiple profit targets (up to 5).
• Take-Profit customizable offset feature (set Take-Profit targets slightly before everyone is expecting it!).
• Candle bar signal analysis (matching candle direction/color, skip opposite structured and/or doji candle uncertain signals).
• Additional analysis of signals through VWAP/EMA/ATR/EWO/MACD+RSI/Volume for best potential trades.
• Advanced Alerts with JSON output, which can be potentially setup with a trading bot over TradingView Webhook (NOTE: This will require advanced programming knowledge).
• Trading Schedule with customizable trading daily time range (set your own trading schedule), automatic trade daily closing alert at any hour or leaving the trade open overnight until it either hits TP (Take-Profit) or SL (Stop-Loss) target(s).

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Signal labels, plots, colors

• White dashed lines show opening range/pre-market levels with dotted white line extend along the Trading Schedule (if Trading Schedule is turned off - it will extend until next day).

• Smart Breakout: 1) Initial Breakout: "init_Brekout" | 2) Confirmation Bounce: "conf_Bounce" | 3) Confirmation Breakout: "conf_Breakout" (additional lables on chart can be hidden with only Confirmation Breakout shown).
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• LONG (↑) open: green "house" looking arrow below candle bar.
• SHORT (↓) open: red "house" looking arrow above candle bar.

• LONG/SHORT take-profit target: green/red circles (multi-profit > TP2/3/4/5 smaller circles).
• LONG/SHORT stop-loss target: green/red + crosses.

• LONG/SHORT take-profit hits: green/red diamonds.
• LONG/SHORT stop-loss hits: green/red X-crosses.

• LONG/SHORT EOD (End of Day | Intraday style) close (profitable trade): green/red squares.
• LONG/SHORT EOD (End of Day | Intraday style) close (loss trade): green/red PLUS(+)-crosses.

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Main Configuration and Trading Schedule Settings

• STATS TABLE
         >>> Trading STATS table on the chart showing current trade direction, Last TP (Take-Profit) Taken, Current Trade PL (profit/loss in price difference from trade open to the very current state).
• CUSTOM TRADING DATE RANGE
         >>> This feature can be used to manually set indicator trading range from and to a specific date and time. NOTE: This is not intended for a very long date range backtesting, utilize TradingView Strategy Tester for that.
  
         * Use TradingView “Strategy Tester” to see Backtesting results
         NOTE: If Strategy Tester does not show any results with Date Ranged fully unchecked, there may be an issue where a script opens a trade, but there is not enough TradingView power to set the Take-Profit and Stop-Loss and somehow an open trade gets stuck and never closes, so there are “no trades present”. In such case - manually check “Start”/“End” dates or use “Deep Backtesting” feature!
• INTRADAY ACTIVE TRADING SESSION CONFIGURATION
         >>> Regional Active Trading Session Hours Schedule: If selected - trades will only open during regional active trading session, if 'OFF', there will be no trading schedule and trades will open 24/7.
               Below 2 settings are only for "CUSTOM" "Regional Active Trading Session Hours Schedule":
                     >>>>> CUSTOM - Active Trading Session Hours Schedule (Local/TradingView Time Zone): Time selected below will be in Local/TradingView Time Zone | NOTE: Be careful with CUSTOM setting as it may allow the indicator to trade during per/after market and open trades after EOD (End of Day) hour if incorrect times are input!
                     >>>>> CUSTOM - EOD(End of Day) Close - Hour
         >>> EOD(End of Day) Close - On/Off: Close the trade if it's still open at the end of active trading session (on the very last candle bar). NOTE: If 'Regional Active Trading Session Schedule' will be set to "OFF": there will be no EOD(End of Day) Close and trades will run overnight until either SL(Stop-Loss) or TP(Take-Profit) is hit!
                >>>>> EOD(End of Day) Close - 1 candle bar before last: This is specifically for stocks as while usually indices can be closed 15minutes after the market closes, for stocks - the last candle bar closes at the same time with the market active trading session, which if closed - trades can't be closed until next day/session! Enable this setting for the trade to close/alert 1 candle bar before the last one, so there is still time to close the trade at the Broker (NOTE: depending on the timeframe, 1 candle bar can be: 15sec, 30sec, 1min, 3min, 5min, 15min, 30min, 45min, 1h).
  Here is a table of all the included regional trading session hours.

  Region	Local Time	EST Time
  US/Canada
  NY_withPW(EDT)	09:30-16:00	09:30-16:00
  NY_noPW(EDT)	09:30-15:00	09:30-15:00
  Toronto(EDT)	09:30-16:00	09:30-16:00
  Europe
  Amsterdam(CEST)	09:00-17:30	02:00-10:30
  Frankfurt(CEST)	09:00-17:30	02:00-10:30
  London(BST)	08:00-16:30	02:00-10:30
  Stockholm(CEST)	09:00-17:25	02:00-10:25
  Zurich(CEST)	09:00-17:20	02:00-10:20
  Eurasia (CST > China Standard Time)
  Hong Kong(HKT)	09:30-16:00	20:30-03:00
  Mumbai(IST)	09:15-15:30	22:45-05:00
  Shanghai(CST)	09:30-15:00	20:30-02:00
  Shenzhen(CST)	09:30-14:57	20:30-01:57
  Riyadh(AST)	10:00-15:00	09:00-14:00
  Seoul(KST)	09:00-15:30	19:00-01:30
  Taiwan(CST)	09:15-13:30	20:15-00:30
  Tokyo(JST)	09:00-15:00	19:00-01:00
  Australia
  Syndey(AEDT)	10:00-16:00	18:00-00:00
  Brazil
  Sao Paulo(BRT)	10:00-17:55	08:00-15:55
  South Africa
  Johannesburg(SAST)	09:00-17:00	02:00-10:00

• TRADE SIGNAL CONFIGURATION
         >>> Custom - Potential Trade about to be Open Live Alert/Show - On/Off: An alert will be triggered with label shown on the chart at potential trade about to be open, once price crosses the trade signal level (The whole trading engine/backtesting signals are considered valid only once candle bar closes, while trade open condition is true at the same time). NOTE: It will only trigger if no valid trade is already open. NOTE: This particular feature cannot be backtested and is not included in the backtesting results, so please use with discretion. NOTE: This feature works outside of Signal Analysis and Cleanup scope and simply triggers when potential trade open level is crossed.
  
         >>> Opening Range - Time Period (Local/TradingView timezone): NOTE: The Pre-Market/Time Range will be in local/TradingView timezone. The zone is shown by the dashed white top/bottom lines, may need to experiment visually to ensure the time range is set correctly. By default it's set to Pre-Market US (NY) Hours: 7:00-9:30 ET.
  
         >>> Opening Range - Levels Structure: determines how the price range is calculated, based on the highest/lowest price zones or based on the candle body bar.
         >>> Opening Range - Breakout System: "Simple": bar close price has to simply break the opening range level | "Smart": After initial breakout (which is basically 'Simple' Breakout), a price come back is expected to the opening range level, a bounce, then a confirmation breakout with price closing ahead of the initial breakout.
                >>>>> Opening Range - Smart Breakout: # of bars until Initial Breakout becomes invalid
                >>>>> Opening Range - Smart Breakout: Bounce Settings, "Cross-Return" - LONG: Price has to cross down the initial breakout S&R, but never close below it; SHORT: Price has to cross up the initial breakout S&R, but then close above it; ||| "Cross-Close-Return" - LONG: At least 1 candle has to close below initial breakout S&R; SHORT: At least 1 candle has to close above initial breakout S&R.
                >>>>> Alerts - Opening Range - Smart Breakout: Confirmation Bounce Alert. Trigger an alert at confirmation bounce. This is for live trading (especially scalping) Smart Breakout approach - to get ready to open the trade in the correct direction.
• TAKE-PROFIT/STOP-LOSS CONFIGURATION
         >>> TP (Take-Profit) and SL (Stop-Loss): S&R Search - Left Bars: This setting is for calculating optimal S&R (Support and Resistance) levels (in combination with below - Right Bars) for S&R (Support and Resistance) TP (Take-Profit) levels calculations. NOTE: if at any point - there will be no available S&R (Support & Resistance) found for SL (Stop-Loss, 'S&R-Dynamic-SL' or 'S&R-Static-SL' setting, since both settings search for optimal SL (Stop-Loss) at trade open) or TP (Take-Profit, at any setting, since at trade open, an optimal TP (Take-Profit) level is searched) > SL (Stop-Loss) will automatically switch to trailing ATR-Trailing-SL and the trade will continue to run until it either hits ATR-Trailing-SL (Stop-Loss) or closes at EOD (End of Day).
         >>> TP (Take-Profit) and SL (Stop-Loss): S&R Search - Right Bars: This setting is for calculating optimal S&R (Support and Resistance) levels (in combination with above - Left Bars) for S&R (Support and Resistance) TP (Take-Profit) levels calculations. NOTE: if at any point - there will be no available S&R (Support & Resistance) found for SL (Stop-Loss, 'S&R-Dynamic-SL' or 'S&R-Static-SL' setting, since both settings search for optimal SL (Stop-Loss) at trade open) or TP (Take-Profit, at any setting, since at trade open, an optimal TP (Take-Profit) level is searched) > SL (Stop-Loss) will automatically switch to trailing ATR-Trailing-SL and the trade will continue to run until it either hits ATR-Trailing-SL (Stop-Loss) or closes at EOD (End of Day).
         >>> TP (Take-Profit) and SL (Stop-Loss): S&R Search - Custom Resolution: This is a custom timeframe setting specifically for S&R Search, it disregards current chart timeframe. This is great to use for scalping, for example: with main chart set to 1min and the custom timeframe set to 3min or 5min - there will be stronger support/resistance levels with more detailed price action.
         >>> TP (Take-Profit) and SL (Stop-Loss): # of Bars (3500 max) to search back for optimal Support and Resistance levels: This is how many candles will be searched backwards for previous S&Rs (Support and Resistance) to find the optimal levels for TP (Take-Profit) and SL (Stop-Loss). NOTE: If SL (Stop-Loss) System is set to 'ATR-Trailing-SL' - this setting is only relevant for searching TP (Take-Profit) levels.
         >>> TP (Take-Profit) and SL (Stop-Loss): At Trade Open - No S&R (Support and Resistance) found behavior: 'Skip Trade': If at trade open there are no S&R (Support and Resistance) levels for TP1 (Take-Profit 1) or SL (Stop-Loss) - trade is skipped. 'Open/ATR-Trailing-SL': If at trade open there are no S&R (Support and Resistance) levels for TP1 (Take-Profit 1) or SL (Stop-Loss), the trade will still be open with SL (Stop-Loss) set to 'ATR-Trailing-SL'.
         >>> TP (Take-Profit) System: Pre-Market-Range-TP: All TP (Take-Profit) targets are calculated at trade open using the distance between Support and Resistance per Opening Pre-market Range and then divided by TP (Take-Profit) Divider, which can be set below; S&R-Current-Optimal-TP1: TP1 (Take-Profit) level is set per currently available S&R (Support & Resistance), if none available - historical S&R (Support & Resistance) levels will be searched, remaining TP (Take-Profit) targets (if selected, up to 5 # of TPs) are searched through most recent closest historical S&R (Support & Resistance) levels; S&R-Historic-Optimal-TP1: TP1 (Take-Profit) level is set per historically most recent closest available S&R (Support & Resistance) to the Entry price, remaining TP (Take-Profit) targets (if selected, up to 5 # of TPs) are searched through historical S&R (Support & Resistance) levels as well.
         >>> TP (Take-Profit, Pre-Market-Range-TP) Divider #: This is for 'Pre-Market-Range-TP' setting only, where TP (Take-Profit) level is the distance between top/bottom levels of the opening range. It can be reduced by the divider #. (1 - full distance; 2 - 1/2 distance; 3 - 1/3 distance; etc.
         >>> TP (Take-Profit) # of targets: It is wise to divide the trade into several profit targets. With this setting - up to 5 TP (Take-Profit) targets can be approached. The trade will be equally divided up by the selected # of TP (Take-Profit) targets.
         >>> TP (Take-Profit) target(s) Consumed: Signal Bar consuming Take-Profits - trade signal bar is big enough to 'consume'/close ahead of the first TP setting > the signal can either be skipped, or all Take-Profit targets pushed ahead by average bar size).
         >>> TP (Take-Profit) Offset - On/Off: This is a feature where TP (Take-Profit) target will be considered taken even if the price never crosses the target(s), but comes close enough (based on the offset amount). Set the offset amount below.
                >>>>> TP (Take-Profit) Offset - Amount: Some Examples: (for SPY 0.1 would be $0.10 offset - if TP1 is $400 and price hits $399.90 > TP1 considered taken/signal shown/alert) | NOTE: For EURUSD, it is very different and if wrong will show TP1 immediately at trade open, typical good offset for EURUSD is: 0.0005 | Similar for BTCUSD, for example: 10 - $10 offset, if TP is $15,000 > $14,990.
         >>> SL (Stop-Loss) System: 'Pre-Market-Range-SL': SL (Stop-Loss) is set to the opposite market range level from trade direction; 'S&R-Static-SL': SL (Stop-Loss) is set at trade open per optimal most recent S&R level and remains there until trade closes; 'S&R-Dynamic-SL': SL (Stop-Loss) is set at a trade open per optimal S&R (Support and Resistance) level from the most recent AND historical S&Rs (Support and Resistance), with every bar closed it will check if there are new S&Rs (Support and Resistance) levels, if these levels appear closer to the current price then current level - it will move SL (Stop-Loss) to that level, therefore reducing the risk; 'ATR-Trailing-SL': SL (Stop-Loss) is trail-following the ATR (Average True Range) line, NOTE: If at signal trigger, ATR will be against the trade direction - trade open signal will be skipped; 'S&R-TP-Entry-SL': SL (Stop-Loss) initially is set per S&R, then moves to Entry price at the very first TP (Take-Profit) hit and remains there until trade closes; 'S&R-TP-Trail-SL': SL (Stop-Loss) initially is set per S&R, then moves to Entry at TP1 (Take-Profit 1) hit, then keeps trailing per previously taken profit targets (TP2 taken, SL moves to TP1 | TP3 taken, SL moves to TP2 | TP4 taken, SL moves to TP3). NOTE: 'ATR-Trailing-SL' will not switch automatically if 'S&R-Dynamic-SL', S&R-TP-Entry-SL', 'S&R-TP-Trail-SL' system is selected, as already the most optimal SL (Stop-Loss) level is calculated - it will switch automatically only with 'S&R-Static-SL' system.
         >>> SL (Stop-Loss) - On/Off: Without SL (Stop-Loss), unless EOD (End of Day) Close is turned on - there will be no SL (Stop-Loss) at all!

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Signal Analysis and Cleanup Settings

• SIGNAL ANALYSIS AND CLEANUP
         >>> Signal Cleanup - Bar Color: Include Bar Color (bullish/bearish) confirmation, LONG signal will only be opened if signal bar is green/bullish, SHORT if red/bearish.
         >>> Signal Cleanup - Bar Directional Structure: Skip opposite bar structure types signals (For example: bearish green hammer).
         >>> Signal Cleanup - Bar Doji Skip: Skip doji (indecisive) candles signals.
         >>> Signal Cleanup - EWO (Elliott Wave Oscillator): Include EWO (Elliott Wave Oscillator), LONG will only be opened if EWO is bullish / SHORT if EWO is bearish.
         >>> Signal Cleanup - VWAP (Volume-Weighted Average Price): Include VWAP (Volume-Weighted Average Price), LONG will only be opened if price is above VWAP / SHORT if price is below VWAP.
         >>> Signal Cleanup - MA (Moving Average) Confirmation: Include MA (Moving Average), LONG will only be opened if MA is bullish / SHORT if MA is bearish.
         >>> Signal Cleanup - ATR (Average True Range): Include ATR (Average True Range) confirmation, LONG will only be opened if ATR is bullish / SHORT if ATR is bearish.
         >>> Signal Cleanup - Divergence(RSI + MACD): Include Divergence (RSI[Relative Strength Index] + MACD[Moving Average Convergence Divergence]) confirmation, LONG will only be opened if Divergence is bullish / SHORT if Divergence is bearish.
         >>> Signal Cleanup - Volume % Strength: Volume % Strength: Include Volume strength/percentage confirmation, LONG/SHORT will only be opened with strong Volume matching the signal direction | By default, strong Volume percentage is set to 150% and weak to 50%.
         >>> Signal Cleanup - Volume Above Average: Volume Above Average: Include Volume Above Moving Average (Volume closing bar closes above volume moving average) confirmation, LONG/SHORT will only be opened with Volume above average - Volume closed bar color must match the closed price color (bullish/bearish direction) + Volume bar must be closed above volume MA line).

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Setting Up and Reading Alerts

• Adding Alerts in TradngView:
  -Add indicator to chart and make sure the correct strategy is configured (check Backtesting results)
  -Right-click anywhere on the TradingView chart
  -Click on Add alert
  -Condition: Select this indicator by it’s name
  -Immediately below, change it to "alert() function calls only", as other wise there will be 2 alerts for every alert!
  -Expiration: Open-ended (that may require higher tier TradingView account, otherwise the alert will need to be occasionally re-triggered)
  -Alert name: Anything
  -Hit “Create”
  -Note: If ANY Settings within the indicator will be changed > DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
  
• Reading Alerts in TradngView:
  NOTE: Each label ["COIN"], ["ENTRY"], etc. is customizable, the text can be changed of it within indicator Input settings.
  Here are 2 examples of a 1)LONG OPEN alert and a )LONG SL > IMMEDIATE SHORT OPEN alert:
  1)
  2)
  The labels are pretty much self-explanatory, but just in case:
  NOTE: take-profit and stop-loss levels are considered reached only when candle bar closes beyond the level (therefore take-profit/stop-loss actual prices will be slightly different than initially shown)! Here are 2 examples with 1)TP and 2)SL crossed/touched vs actually reached/taken:
  1)
  2)
  - COIN: Instrument which will be traded
  - TIMEFRAME: Timeframe of the chart at which algorithm is working
  - LONG: Direction of the trade and indication of the trade to be open
  - ENTRY: Price at which the trade is open (stocks purchased)
  - TP1: 1st take-profit target
  - TP2: 2st take-profit target
  - TP3: 3st take-profit target
  - TP4: 4st take-profit target
  - TP5: 5st take-profit target
  - SL: stop-loss level at which trade/position will be closed at loss
  - Leverage: this an informational label of leverage, does not affect the algorithm in any way
  
  With each trade/position alert, there is all the necessary information included.
  Mainly it's: Open (direction) or Close (partially/full) at alert!
  Here are several alerts demonstrated:
  

TP (TAKE-PROFIT) PERCENTAGE
(Click or Tap to expand)

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"TP PERCENTAGE" - the amount by which the current trade or position should be decreased, partially closed, or sold.

TP System: Dynamic
"TP PERCENTAGE" - will always be the same amount (trade/position size divided by the # of take-profit(TP) targets) and percentage to be decreased, partially closed, or sold will always be of the ORIGINAL trade/position.

TP System: Static
"TP PERCENTAGE" - will always be the same amount IF take-profit(TP) targets are hit 1-by-1 (TP1 > TP2 > TP3 > TP4 > TP5), otherwise it will vary and unless it is a 1st take-profit(TP1), the REMAINING trade/position size will always be smaller than original and therefore the percentage to be decreased, partially closed, or sold will always be of the REMAINING trade/position and NOT the original one!

TP Percentage Cheat Sheet

• Check your current trade size.
• Multiply it by the decimal value next to "TP PERCENTAGE" received in the signal/alert.
• The result represents the quantity of units, stocks, contracts, etc. that should be reduced, partially close, or sell.

TP PERCENTAGE	Close/Sell Amount	Example (trade size: 50 stocks)
20%	trade size * 0.2	50 * 0.2 = 10 stocks
25%	trade size * 0.25	50 * 0.25 = 12.5(~13) stocks
34%	trade size * 0.34	50 * 0.34 = 17 stocks
40%	trade size * 0.4	50 * 0.4 = 20 stocks
50%	trade size * 0.5	50 * 0.5 = 25 stocks
60%	trade size * 0.6	50 * 0.6 = 30 stocks
66%	trade size * 0.66	50 * 0.66 = 33 stocks
75%	trade size * 0.75	50 * 0.75 = 37.5(~38) stocks
80%	trade size * 0.8	50 * 0.8 = 40 stocks
100%	trade size	50 = 50 stocks

In the rare event that a portion of the current or remaining trade closes slightly inaccurately, there's no need for concern. These occurrences are infrequent, and even if there's a minor discrepancy in the partial take profit (TP) closure, it doesn't significantly impact the overall performance of our algorithms.

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