Opening Range Breakout Indicator

NinjaTrader 8

Opening Range Breakout Indicator

The best indicator to trade the Opening Range Breakout Strategy or other time range strategies in NinjaTrader 8. With this indicator, you’ll never have to manually draw areas on your chart again.

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How It Works

Three powerful periods. Configured in three simple steps.

The Range Period

The first period of the indicator is the so-called „Range Period“.

This is the most important period of the indicator, because in this time the range is formed.

The range period is basically the dynamic range of the indicator which grows with the price movement. During this time, the range is made up of the highest and lowest prices.

You just need to set the start and end time when the indicator should form the range and the indicator does that for you every day.

Another highlight in this period is the range marking. This is of course also dynamic. This means that only the background of the range is highlighted and you always have an overview of the range at a glance.

The Breakout Period

The second powerful area of the indicator is the „Breakout Period“.

This period is the static area of the range and is designed to help you spot breakouts of the range immediately.

This means that the range high does not grow this time and the range stay the same as in the range period. The Range only grows vertically over time.

You just need to set the time by which you want to see a price breakout of the range and the indicator will mark that area from the end of the range period to the end of the breakout period.

The Target Period

The last period of the indicator is the “Target Period”.

This period starts at the same time as the „Breakout Period“ and from this point the indicator draws target lines for your breakout trade.

Thats allows you to place your target orders immediately and at the exact price level.

You can specify the target lines either as a function of the area height or in absolute values. Then all you have to do is determine how long the finish line should be drawn and the finish lines will be drawn for you from the end of the Range Period to this time.

Customize how you like it

Feel free to design the indicator according to your style.

Opening Range Breakout Indicator Parametes

Times

The indicator works on all minute and hourly charts. This allows you to time your trading strategies down to the minute.

Lines & Colors

Choose the color of the range and breakout period as well as the target lines according to your preference. Line type and line width can be designed individually for each area.

Targets

The target lines will help you to place your target orders at the exact courses. Determine these either dependent of the range high or in absolute values.

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