L.W Opening Range Breakout (ORB) – Larry Williams Inspired Strategy for Sierra Chart
Trade structured intraday breakouts with L.W Opening Range Breakout, a professional Sierra Chart study inspired by Larry Williams’ Opening Range method. Designed for futures traders, it provides real-time breakout signals, predefined targets and stop loss levels, and historical performance tracking.
What It Does:
- Detects long and short breakout levels based on today’s Regular Trading Hours (RTH) open and yesterday’s RTH range.
- Calculates dynamic target and stop loss levels for each breakout.
- Displays levels visually with lines and arrows on your chart.
- Tracks historical performance over the last 20 days (targets hit, stop losses, and profit/loss) so you can quickly gauge the strategy’s effectiveness.
Key Features:
- Opening Range Breakouts Only: Long and short breakouts based on configurable multipliers of yesterday’s range.
- Dynamic Targets & Stops: Automatically calculated from the breakout level.
- Visual Signals: Customizable arrows, line styles, and colors.
- Performance Stats: Simple tracking of past 20 days for quick strategy evaluation.
- Fully Customizable: Adjust session times, multipliers, line styles, colors, labels, and more.
Recommended Use:
- Best on 5-minute or 15-minute charts.
- Ideal for traders who want clear, structured breakout setups with predefined risk/reward levels.
Installation:
- Copy the DLL into your Sierra Chart Data folder.
- Add “L.W Opening Range Breakout” via Studies → Add Custom Study.
- Configure inputs for session times, multipliers, and visuals.
Note on Stats:
The included 20-day performance stats are indicative and meant to give a general idea of how the strategy could perform. In real-time, results may vary depending on your entry method (e.g., aggressive vs. waiting for candle close) and market conditions.
Customization Tips:
- Recommended timeframes: 5-minute or 15-minute charts.
- Adjust Target Multiplier based on volatility and instrument: 2.0–3.5.
- Test different setups to see what provides the best potential for your trading style.
⚠️ This strategy does not guarantee profits but provides clear breakout levels for trading the RTH Open with a structured approach.
🎯 Trade opening range breakouts with precision, real-time signals, and historical performance tracking.
🔐 Activation: Requires your Sierra Chart Username; study will be enabled within 24 hours.