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ORP (Opening Range Projections)
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ORP (Opening Range Projections)

  #11 (permalink)
Member
Boston
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures/Transact
Favorite Futures: ES
 
Maletor's Avatar
 
Posts: 88 since Jun 2009
Thanks: 7 given, 26 received

Do you like to wait for price action to confirm since your basically going countertrend?

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  #12 (permalink)
Elite Member
Arcata, CA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: index futures, oil
 
Saroj's Avatar
 
Posts: 482 since Jun 2009
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"Don't always work"... hehehe

... just like ANY and ALL SR levels...

hey.. if any of you hear about something that DOES always work including price action (DT/HF [double top / high failure] and DB/LF); Elliott Waves; Bollinger Band clusters... uh... would you please let me know?

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  #13 (permalink)
Elite Member
Houston TX
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: TF
 
ticker's Avatar
 
Posts: 49 since Oct 2010
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TAJTrades View Post
I created an Indicator that will show the Fib Extension Levels. Just waiting to test it Real Time today before I post it.

It will required some changes to the Chart Properties Window SessionBegins and SessionEnd times for it to work correctly. See the images below. You may need to have a dedicated chart just for this indicator.

I DO NOT use this indicator by itself. I always look at other Techs to confirm that a level will hold. Using it as a stand alone for trading decisions can be vey dangerous.

I am hoping that the community will take this to the next level by demonstrating what other Indicators will best confirm that a level will hold.


UPDATE:
As with any indicator from an untrusted source Please DO NOT install this indicator if you are in a "Real Money" trade. It works on my computer but that does not mean it will work on yours.

It is very important that you set your chart properties as shown in the image below for this to work correctly. I am still trying to build a better mouse trap but as of today have not been successful.

Hello TAJTrades,
Are the fib extensions created based on prior day info, or on current day ranges? Would be really interesting if on prior day info..

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  #14 (permalink)
Elite Member
BC
 
Futures Experience: Advanced
Platform: Ninja
Broker/Data: Amp with Zenfire and IB
Favorite Futures: ES, currencies, forex
 
Posts: 62 since Sep 2009
Thanks: 12 given, 6 received

ORP

Austin Passamonte of Coiled Markets uses the 5 min Opening Range and runs the 377, 512 and 780 extensions off it. It would be great to have the ORP with Fib Projections that are customizable by the user so any values could be used. But he has tested these values and found that they work well in conjunction with your other analysis.

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