One Of The Best Technical Indicators And Quote Tracker Doesn't Have It

H

hoodooman

I'VE BEEN EXPERIMENTING WITH CRABEL'S OPENING RANGE BREAKOUT AND ITS BEEN WORKING GREAT. ACCORDINGLY, I'VE COME UP WITH AN IDEA WHICH COULD MAKE IT EVEN BETTER.

WHAT QUOTE TRACKER NEEDS IS TWO HORIZONTAL LINES WHICH WOULD APPEAR ON THE CHART AT THE HIGHS AND LOWS WITHIN ANY PARTICULAR TIME INTERVAL THAT THE TRADER DESIRES AND THEN THESE LINES ARE EXTENDED ENTIRELY ACROSS THE GRAPH.

SECONDARILY, THE HORIZONTAL LINES WOULD BE PROGRAMMED TO AUTOMATICALLY ALERT WHEN THE PRICE BREAKS OUT ABOVE OR BELOW THE BAND.

HERE IS AN EXAMPLE.

BREAKOUT TIME INTERVAL BETWEEN 9:30 TO 10:00 AM

PRECISELY AT 10:00 AM, HORIZONTAL LINES FORM A BAND AT THE TIME INTERVALS HIGHEST PRICE OF 35.00 AND THE TIME INTERVALS LOWEST PRICE OF 34.50.

THEN AN AUTOMATIC ALERT SIGNAL IS INITIATED EVERY TIME, THERE- AFTER, THAT EITHER OF THESE BANDS IS CROSSED TO THE UP SIDE OR DOWN SIDE FOR THE REST OF THE DAY.

GIVEN THAT THE ENTIRE SET OF STOCKS IN YOUR LIST IS SET UP WITH THIS INDICATOR THEN THE ALERT WOULD BE INITIATED FOR YOUR ENTIRE LIST, WHETHER OR NOT THE CHART WAS OPEN OR CLOSED, THUS GIVING YOU A HUGE TRADING ADVANTAGE.

I BELIEVE THAT THIS IS ONE OF THE BEST IDEAS THAT I HAVE EVER COME UP WITH, IN STOCK TRADING AND I AM HOPING THAT THIS THREAD WILL EVENTUALLY LEAD TO "CRABEL'S INDICATOR , INSTALLED ON QUOTETRACKER.

REGARDS

PETER DANIELS
 
Quote from hoodooman:
I BELIEVE THAT THIS IS ONE OF THE BEST IDEAS THAT I HAVE EVER COME UP WITH, IN STOCK TRADING AND I AM HOPING THAT THIS THREAD WILL EVENTUALLY LEAD TO "CRABEL'S INDICATOR , INSTALLED ON QUOTETRACKER.
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you came up with this idea? it's been around as "opening range indicator" for ages now ......
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The idea to automate the band was my idea because no one that I know or or read about ever mentioned it. Moreover, I gave Crabel full credit for the band.
 
Quote from hoodooman:
The idea to automate the band was my idea because no one that I know of or read about ever mentioned it. Moreover, I gave Crabel full credit for the band.
More...
Well, I've been using this indicator for years ...... in my picture previous post I have bands for 5mins opening range as well as 30mins. Harvey Walsh from http://daytradingfreedom.com/ teaches it, Keystone prop firm teaches it, and Marketgauge.com has indicators and HotScans tool and even a pdf book for it http://www.marketgauge.com/TradingThe10OclockBulls.pdf
your so-called "best idea" (Toby Crabel's ORB) is as commonly implemented as Toby's other NR7 narrow range pattern.
 
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