Quantower
This Opening Range indicator plots a horizontal line at the high and the low of the candle created during the Start Time and End time specified by the trader.
In the example above: It is set to plot the range of the first 5 min candle at the US Session open.
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On the charts below, the indicator is displayed on a 5 min chart and also a 1 min chart.
This is the Opening Range bot.
*Note that Quantower automated strategies run independent of any charts being used.
This bot will enter a Long position at the break of the Opening Range high and a Short position at the break of the Opening Range low. The Risk for any position is automatically calculated to be 90% of the Opening Range size.
A Fair Value Gap is a 3 candle pattern.
A gap up is when there is a gap between the high of the 3rd candle back and the low of the 1st candle back.
A gap down is when there is a gap between the low of the 3rd candle back and the high of the first candle back.
This indicator allows the trader to specify the minimum and maximum gap sizes to display and adjust the gap coloring.
This is the Fair Value Gap Sweep bot.
*Note that Quantower automated strategies run independent of any charts being used.
This bot will enter Long and trade through a gap down or enter Short and trade through a gap up.
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There is a traditional Fair Value Gap bot also available which will enter Long if price returns back down into the gap up area or enter Short if price returns back up into the gap down area. However we have found that the "Sweep" version works well with small gaps on fast moving instruments.
A Fractal is a 5 candle pattern.
An up fractal is when 3 candles make higher highs and the next 2 candles make lower lows.
A down fractal is when 3 candles make lower lows and the next 2 candles make higher lows.
This indicator plots both up and down fractals and changes the line color once the fractal level has been broken. All colors can be modified.
The example below is displayed on a 5 min chart.
