Opening Range Breakout – Larry Williams, Toby Crabel, and Sheldon Knight Methods
The Opening Range Breakout is a very common trading strategy that has been around for many years. In over a decade of trading, it is one of the very few daytrading strategies that I have found to be fairly consistent. An article I read on Futures Magazine’s Web site discusses several variations of the Opening Range Breakout strategy, including those of Larry Williams, Toby Crabel, and Sheldon Knight. You can find the article at:
The article claims that Larry Williams was able to turn $10,000 into over $1 million in less than 1 year. Below is a link to download a TradeStation Indicator based on the code provided in the article above. It will allow you to plot the Opening Range Breakout values using any of the 3 methods. The code was designed to work with 2 data streams on the chart, the first being an intraday chart and the second being a daily chart.
Click the link below to download our Free Opening Range Breakout indicator for TradeStation:Opening Range Breakout Indicator for TradeStation (1402 downloads)