Opening Range Breakout , Crabel method

"I got fooled by looking at charts and not realizing how much price would dither around inside the bar."

The reality of futures.

 

Hi Murray, how can I contact you to discuss the possibilities of using TradersStudio for my research vs continuing down the path I have already started of developing my own tool from scratch?

Thanks in advance!
Joey

 

You could private message on ET and we can take it from there.

 

This thread was very popular 4 years ago. I know the topic still has a lot of interest. The problem is for markets other than indexes and bonds, the day session really does not exist and we now have a open which is not really a open, for example open for crude on ice is 1 am.

Does this mean ORB is dead ?. Is there any variation of this that works in these electronic markets ?

Does this sound like a good idea for a new thread ?.

 

If you mean as a topic for wild speculation as opposed to reporting negative backtesting results, yes.

 

Does open range breakout have any validity, now that the electronic markets open at times of low liquidity?

 

i would suspect only if an instrument (ie. futures / commodities, or hyper active stock) has a pre-mkt high/low which is stretched far from the opening range high/low.

i know that ORBs have worked on some stocks i follow which were not incredibly active in pre-mkt.

 

What about basing breakouts off of the previous close instead of the open?

 

I have looked at the close and if does offer promise,because it's the other psychological reference point. I have some stuff which looked interesting but have not finished looking at it. I will report on some of this stuff over this summer.

Another possibility which might have some validity for a few more yes would be synthetic sessions which used the old pit times broken out of the 24 hour data.

 

Outside of Crabels book and published articles, does anyone have any links or leads to info on using his methods? I would like to do futher research.