Cash ORB Levels

2022년 12월 5일

The Cash ORB Levels strategy will display the Opening Range (15 minutes of the open session by default) High and Low. It will then render upper and 2 lower Price Target Levels based on 50% and 100% profit targets, or optionally the Fib Extensions from the Opening Range.

The opening range is customizable in the settings, where you can choose from 5 minute, 15 minute, or 30 minute Opening Ranges.

Many stock tickers tend to follow the Opening Range, and sees continuation after a break of that range. This is a common strategy used by traders to enter trades. Price action also tends to find support and resistance at the 50% and 100% retracement levels, thus providing you Price Targets to start trimming your position, or finding new entries.

The Cash ORB Levels indicator also differs from our free version by providing LONG and SHORT signals based on a number of factors including moving averages, trends, etc to improve the success rate of entries.

2022년 12월 20일

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Updated labels to display price
Updated rendering of ORB Midpoint Line to show immediately rather than waiting for ORBs to be set

2022년 12월 21일

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Added more fib extension price targets to cover these large trend days

2022년 12월 22일

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TradingView made an update which is preventing the Opening Range combo box selection from showing the options. This fix is a workaround until TradingView fixes things on their end.

2022년 12월 22일

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Added the ability to set International overrides to support Europe and Asia markets better
Added more extended price targets (up to 500%) to go along with the extra fib extensions i added earlier (alternative to fib extensions)

2022년 12월 22일

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Added tooltip context help to settings for Opening Range Minutes

2023년 1월 14일

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• Added the ability to make the entry alerts based on ORB + System. This means that if The System has a bull bias, and we break ORB High, then you get the alert. Likewise a break of ORB Low would require a bear bias on TheSystem. Learn more about TheSystem with ORB here: getthatcashmoney.com/blog/strategy-thesystem/
• Added setting to toggle the 9/21 ema lines on or off
  
• Added tooltip to the alerts to show what TheSystem bias is
  

2023년 2월 7일

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• Added a new Alert Setting - Alert on ORB Breakout and Hold. This alert waits for the ORB level to breakout, but then the next candle must hold and be green (for longs), or red (for shorts). This differs from the BREAKOUT alert which fires as soon as the ORB level is broken (but could fake out on the next candle), and the RETEST alert which waits for a successful retest of the ORB level (but results in missing potential ORB trades).
  
  
• Added tooltips to the Entry Alerts detailing why the alert fired, what the target is, what the stop loss level should be, and any other applicable information related to the trade. These tooltips help as a reminder of the rules for trading ORB to help reduce risk from chasing, or hopium effects. The target price is a good trim area, but price can keep going so trade based on number of contracts you have and risk appetite for larger gains.
  

2023년 3월 21일

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Integrated The System SMAs into this ORB indicator, thus becoming the SORBET strategy All In One Indicator now!
Renamed the Indicator as Cash SORBET to reflect this enhancement
Added SORBET entry alerts
Added ability to send alerts via a webhook (you can setup alerts using the TradingView Alerts box)
- Alerts are fired on ORB High/Low crosses, and on entry alerts.
- With the SORBET strategy, updated the candle colors to reflect chop zones (inside orb range, inside cloud) in orange, and conflict zones (eg above orb/below cloud, or below orb/above cloud) in gray
- Added checklist table to show the current status of the chart, based on the SORBET strategy

You can still use just the normal ORB concepts without the System cloud and SORBET alerts if you wish by disabling the SORBET options.

If running this indicator for the SORBET strategy, then you no longer need to run The System Trend indicator separately.

2023년 4월 18일

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Added Embedded Alerts (Choose Alert Format in settings) for webhooks that can be integrated into Discord
Added LONG alerts for 50sma retests (These are higher risk and needs to be enabled in the settings with the Higher Risk Alerts setting)

2023년 4월 18일

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Added a version number in the Settings