This NEW Opening Range Breakout Indicator Is Genius — Transcript

Full transcript

1. 0:00I'm going to show you guys the exact
2. 0:01strategy that I use to make $20,000 a
3. 0:03month. Let's get right into it. All
4. 0:05right, first things first, you guys want
5. 0:06to be on the 30-minute timeframe, and
6. 0:08once market opens at 9:30, you guys are
7. 0:10going to wait for the first 30-minute
8. 0:12candle to fully form. So, boom, right
9. 0:14here's the first 30-minute candle, as
10. 0:16you can see, the 9:30 candle. You're
11. 0:18going to draw the high, and you're going
12. 0:20to draw the low of that candle. You're
13. 0:21going to swap to the 5-minute timeframe,
14. 0:24and wait for a break and a close outside
15. 0:26of this range. Here, we have a break and
16. 0:28a close outside of the range, so I'm
17. 0:30going to enter short right here. Now,
18. 0:32I'm going to target a 1:3 RR. Let's see
19. 0:34how this trade plays out.
20. 0:37Boom, just like that.
21. 0:39>> So, this is actually called an opening
22. 0:40range breakout strategy, and we've built
23. 0:43quite a few of these. In fact, one of
24. 0:45the most popular ones, if we go to
25. 0:47luxalgo.com, head to the library, search
26. 0:49opening range, you'll find this, the
27. 0:51ultimate opening range breakout
28. 0:53indicator. And if you click on it,
29. 0:55you'll see that we do have it available
30. 0:56for TradingView. So, just click here to
31. 0:58add it to your chart. And this indicator
32. 1:00does everything automatically for you.
33. 1:02Not only does it plot the opening range
34. 1:04for you, but it also shows you a
35. 1:05backtest of what levels to target and
36. 1:07what has the highest success rate. We
37. 1:09can see the opening range, those levels
38. 1:11are established, and when we have a
39. 1:13breakout, it tells us if it is low
40. 1:14volume or high volume. Here, we had low
41. 1:17volume, and as you can see, price just
42. 1:18ended up going back into the range.
43. 1:20However, when we have a breakout that is
44. 1:22high volume, marked by HV, [music] we're
45. 1:25more likely for price to continue to
46. 1:27trend to one of these target levels. And
47. 1:29we have target one, [music] target two,
48. 1:31and target three. Now, this indicator is
49. 1:32great, and it also has alerts, but if
50. 1:34you're new to trading, you probably
51. 1:36don't know what asset you should be
52. 1:38trading [music] in the first place. So,
53. 1:39what I want to do is I want to add a
54. 1:41dashboard to this indicator that will
55. 1:44scan a bunch of different markets and
56. 1:46tell me what market is having the
57. 1:47highest success rate this strategy. So,
58. 1:50to do that, all I'm going to do is go
59. 1:51back to the library. I'm going to click
60. 1:53here, use in quant. What this is going
61. 1:56to do is it's going to open this exact
62. 1:57indicator in Quant. Quant is an AI built
63. 2:00for building trading tools outperforming
64. 2:02Claude, ChatGPT, any other tool that's
65. 2:05currently on the market. So, now that we
66. 2:06have the indicator loaded, all I have to
67. 2:08do is go to the chat, and I'm just going
68. 2:09to tell it to add a new dashboard. It's
69. 2:13going to allow me to track the
70. 2:14performance on five different assets and
71. 2:16see what's performing best. So, give it
72. 2:18about 15 seconds to a minute, and it
73. 2:20should be done. And just like that, it's
74. 2:21done. So, just go to code, copy the
75. 2:23code, go over to Trading View and add it
76. 2:26to your chart.
77. 2:29So, now we have the new indicator, and
78. 2:31if you look in the bottom right here,
79. 2:32you can see that we now do [music] have
80. 2:34that dashboard, and it's telling us that
81. 2:36currently SOL has a 60% win rate on
82. 2:39target one. And we can choose what
83. 2:41target we're backtesting here. [music]
84. 2:43If you want access to this opening range
85. 2:45breakout indicator, comment the word
86. 2:47break, and I'll send you a link.