The opening range is high and low for a given period after the market opens. This period is generally the first 30 or 60 minutes of trading. It is one most important chart patterns to make money in the stock market.
During this period we need to identify the highs and lows of the day. Also, we need to identify pre-market highs and lows, as these levels act like a magnet on price action after the market opens.
The opening hour of the market is associated with big trading volumes and volatility. This time of the trading session provides many trading opportunities. In this way, traders use the opening range to set the entry points and to predict and forecast the price action for the day.
Algo Script Name: Opening Range Breakout
Support Broker : AliceBlue API
Required Python Lib. –
1. Put Aliceblue API App credentials details in “config.py”
2. run the file “main_class.py”