LBR Open Drive Breakout

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Hi Pete,

First, I want to say thank you. My trading has improved immeasurably since I started adding custom codes to TOS and stumbled upon your site. I am completely new to TOS and coding but your site has advanced me greatly.

I am looking for a column I can add to my watch list that would take (close – open)/(high – low) of the first 5 minute bar and sort for the highest and lowest readings. If possible, I’d love to be able to change a piece of the code so that I could use it for the first 10 minute, 15 minute and 30 minute bars as well. Finally, a way to make it green if net positive and red if net negative would be great. This idea is coming from a slide from an LBR presentation (image of the slide from the presentation, my current chart setup and wl setup attached). She used 30minutes but I have a sneaking suspicion that it would be more useful on shorter bars in today’s market.

Thank you so much for all you are doing; you are extraordinarily generous with your time. I know it’s asking a lot and I greatly appreciate it.

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Posted by (Questions: 1, Answers: 1)
Asked on July 11, 2018 9:59 pm
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I am going to have to change the title and the URL of this question. A question’s title should be between 6 and 8 words, contain no punctuation and clearly describe the context of your question. When I change the URL, this will break any links you may have made to this post. Based on the sources you reference I expect the phrase “LBR Open Drive” should be a key part of the question title. Help me out here. If you were to search Google for this, what phrase would you enter in the search box?

( at July 11, 2018 10:17 pm)
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Hi Pete, if I was searching google I would search “LBR Opening Drive” or “LBR 30 minute range BO” since that was the title of her original strategy. Sorry for the bad title and thank you again.

( at July 11, 2018 10:35 pm)
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No worries. That’s what I’m here for. Always seeking to optimize how we reach the broadest possible audience. Thanks for the new title!

( at July 12, 2018 7:19 am)
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Hi Pete, how stupid can I be putting a comment in the answer section?!? ? THANK YOU for this wonderful solution and answer. Incredible…. I greatly appreciate it and thank you again. Works fabulously!! Thank you for all you’re doing, it’s pretty amazing. Cheers. – Kevin

( at July 12, 2018 11:43 am)
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We’re going to do this the low tech way. We write the code so that it computes and holds the value from the very first bar of each new trading day. This permits us to apply it to any time frame available from the Aggregation Period Selector at the top of the editor when adding the code to the custom column.

In the screenshot below I have the same exact code installed in three different columns. Each is set to a different time frame, 15 min, 10 min and 5 min. During that first bar of each day the custom columns will display “999” because the values are not available until that first bar closes.

Here is the code:

def newDay = GetDay() <> GetDay()[1];
rec openingDrive = if newDay then Round(((close – open) / (high – low)) * 100, 1) else openingDrive[1];
plot todaysOpeningDrive = if !newDay then openingDrive else 999;
todaysOpeningDrive.AssignValueColor(if todaysOpeningDrive > 0 and todaysOpeningDrive < 999 then Color.GREEN else if todaysOpeningDrive < 0 then Color.RED else Color.CURRENT);

 

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Posted by (Questions: 37, Answers: 4087)
Answered on July 12, 2018 7:47 am
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Don't sweat it. Almost everyone does at first. I make sure to moderate those inputs to ensure we keep things nice and tidy. Thanks again for participating in our forum. Looking forward to seeing more of your posts in the future!

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Posted by (Questions: 37, Answers: 4087)
Answered on July 12, 2018 1:12 pm
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