ORB 15 mins break out or break down

[Sanjeev_Padala]

Hi,
On ORB strategy in Streak, can we have the High/Low marked for Candle breaking out of ORB High or Low.

For example: In case of a Buy entry on a 5m timeframe, Whenever a 5min candle (called the Trigger candle) breaks out of 15m ORB-High, Buy entry should get executed at the the High of the Trigger Candle, while Low of the Trigger candle is the SL

Please help with the conditions on streak.

[Krishnendu]

@Sanjeev_Padala

On ORB strategy in Streak, can we have the High/Low marked for Candle breaking out of ORB High or Low.

For example: In case of a Buy entry on a 5m timeframe, Whenever a 5min candle (called the Trigger candle) breaks out of 15m ORB-High,

You can create this condition

Close crosses above Opening Range (15Min, High)

@Sanjeev_Padala

Buy entry should get executed at the the High of the Trigger Candle, while Low of the Trigger candle is the SL

However, the execution price cannot be currently set as you mentioned. The execution will take place at the current price after the close of the trigger candle.

Alternatively, you can also use this condition
Close(-1) crosses above Opening Range (15Min, High)
Close higher than Previous Hlgh

[Sanjeev_Padala]

Hi Krishnendu,
Thank you for your prompt reply.

However with the below condition,

Alternatively, you can also use this condition
Close(-1) crosses above Opening Range (15Min, High)
Close higher than Previous High

The entry will qualify only if 2 candles are adjoining- one previous candle breaking out and the next candle breaking out of the previous high.

We could miss out on all entry opportunities let’s say, if a 9:20 candle closes above ORB-high and @ 12:00 pm candle breaks the high of the 9:20 candle.

Please advise.

Regards,
Sanjeev

[Krishnendu]

1. ORB of 15 High can only happen after 9:30 AM

@Sanjeev_Padala

We could miss out on all entry opportunities let’s say, if a 9:20 candle closes above ORB-high and @ 12:00 pm candle breaks the high of the 9:20 candle.

2. If you want to look for a breakout of ORB at any candle after the first 15 min and then enter after the breakout candle High is broken by any of the following candles. Currently, it cannot be implemented in Streak. The function required this, is currently under development.

Currently. if you have a defined candle time for a breakout, you can create it in Streak. For Example,
You want a breakout in the next 5 min or 1 min candle and then you want a breakout of High at any point in time, it can be created. But basically, the trigger candle time has to be set beforehand using Nth candle. If you want a condition for this, let me know.