5M ATR(6) ...... Average True Range for 6 periods (5 min candles x 6 periods) --- it generally measures the volatility of the stocks for the last 6 candles on a 5 minute chart.

Welcome to the group. I do not like answering a question by asking a question, but eventually I will have to ask a few in this case. ORB's are thought to be easy bcoz u see and entry signal, the hard part is the STOP placement. In Ed's Chat Room he has very very specific rules for ENTRY, STOP and TARGETS (i.e. levels). Not sure if ur STOP was within his rules which is a 5M ATR6. If u have not been in his room strongly suggest u visit and ask for the link to his 3 recent vids he did while being a BBT Mod. They explain his 5M ORB specifics in detail and how to read Price Action, PA. His vids have not been uploaded to education center yet, they will be, but members in the room will share a temp link to them. So onto the questions: (which I do not like to ask.......as it can be frustrating as a beginner without the right knowledge) 1. I assume its a 5M ORB, where was the STOP calculated to be ? Why ? 2. Did u draw levels ? Where did u identify these levels ? 3. What was target ? 4. Did stock have catalyst ? or u traded with MARKET direction ? 5. Awesome u STOP-ped out .....if that was part of ur PLAN. Didi u have a PLAN ? 6. Not all ORBs work...they do fail.....and u need to understand the PROBABILITIES for success with ur SETUPS. Look forward to seeing u in Ed's Chat room.

@dmiles, glad to hear that you are having success with these scanners, and good to see this thread revived. I’ve had some similar success. I copied/pasted the original formulas that Matt C provided and have been monitoring the various alerts for the past four months. Here’s what I’ve seen: The majority of alerts come from the “S2-S3 Long” and “R2-R3 Short” settings. There are typically 5 or 6 of these a day, and I’ve developed a tradebook for these that works quite well for me- wait for the price to touch S3 or R3, get a 5-minute candle to close in the direction of the reversal, and simultaneously have two consecutive one-minute candles as confirmation. I’ll enter when a new 5-minute candle confirms the reversal AND the third consecutive one-minute candle continues the trend with conviction and volume. I set stop at the base of the previous one-minute candle (which is the second of the three one-minute candles). I find that forcing myself to wait for a 5-minute candle to complete itself keeps me out of some tests of S3/R3 before the reversal gains its ultimate momentum. I think of this as a conservative entry/confirmation with an aggressive stop that is justified by the consistency of the set-up. My trade management is still evolving, but I'll often get a full S3-R3 or R3-S3 traverse, and even if not, I'm able to follow the VPA to manage the trade with partials that typically yield a 2R to 3R return. The other alerts occur sporadically and I too have not been able to rely on them for a consistent set-up. For now, the base plays described above are suiting me just fine. I consider them to be a valuable tool in finding symbols that check the “Where” part of the Cam strategies, and my own entry/stop criteria serves as the “When”. The symbols that trigger are sometimes also on my Watch list and have catalysts, but quite often they come from “off the radar” as symbols that I would otherwise not be following. It appears that the volume settings in Matt’s scripts are quite effective at finding symbols that are moving. I’d love to see some renewed interest in this forum for these alerts, perhaps a new thread, and should the conversation evolve I’d be willing to participate.

Special Webinar September 28th, 2021 Topic of the Week Technology / DAS Trader Pro : Advanced Hotkeys for Risk Management, Part 1 Part 2 is scheduled for October 12th, 2021 at 5pm Pacific (8pm Market/Eastern). Shared Clipboard Any of the scripts or pasteable items we make during class will be pasted in the code box below for each copy/pasting by you. WEBINARS link: https://forums.bearbulltraders.com/forum/97-technology-webinars/ TECHNOLOGY PAGE: https://bearbulltraders.com/technology-class/ ------------ FOR THE CALCULATE Scripts you must have an open position and a valid Stop Price populated in the montage's Stop Price ("Trigger Price") box. For best results, reload your current STOP Order by double-clicking it in the Orders window or double-clicking the QTY## portion on the order flag. These scripts will populate the dollar amount into the Montage's "Price" field. # Calculate Return at Double Clicked; Share=Price*100; Price=AvgCost; SShare=Price*100; Share=Share-SShare;Share=Share;Price=Share/100;Share=Pos;Price=Price*Share;TogSShare;Share=0; # Calculate Risk of Position; Price=AvgCost;Share=Price*100;Price=StopPrice;SShare=Price*100;Share=Share-SShare;Share=Share;Price=Share/100;Share=Pos;Price=Price*Share;TogSShare;Share=0; # Calculate Return PnL; Price=AvgCost;Share=Price*100;Price=Last;SShare=Price*100;Share=Share-SShare;Share=Share;Price=Share/100;Share=Pos;Price=Price*Share;TogSShare;Share=0; # Check Available Buying Power; Price=1; Share=BP; SShare=Share; Share=0; # Create Stop Order in Replay Mode; ROUTE=Stop; StopType=Market; StopPrice=Price; Share=Pos; TIF=DAY; Send=Reverse; Relevant Links: - Dynamic Hotkeys Thread: DAS - Dynamically Calculate Shares on %Risk or $Risk - Hot Key + Configuration, Updated 9/10/19, v2.1 - DAS Trader Pro Tips and Tricks - Bear Bull Traders Forums