Indicator
ORB AI [PickMyTrade]ORB AI asks a question most opening-range tools skip: does this
breakout resemble the chart's own past breakouts that worked, or the ones that didn't?
Instead of firing on a single range-break condition, every qualified breakout is scored
across seven independent structural factors, then cross-checked against an on-chart
K-nearest-neighbour library built exclusively from this symbol's own resolved breakout
outcomes. Both numbers are shown — the rule score and the KNN vote — without either one
silently deciding the trade for you.
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🔷 WHAT IT MEASURES
🔸 Opening Range
The range locks from a configurable session anchor — Exchange Session (the symbol's own
listed timezone), New York 09:30, New York 08:30 (data), London 08:00, Tokyo 09:00, or a
Custom session/timezone pair — over a configurable window (1–120 minutes). If the chart
timeframe is coarser than the chosen window, the range automatically expands to one full
bar and the dashboard notes the effective duration rather than silently misrepresenting
it.
🔸 Rule Confidence (7-factor score)
Every qualified breakout candidate is scored 0–100 across Trend, Momentum, Volume,
Volatility, Structure, Breakout Quality and Liquidity. Trend itself is a blend (35% EMA
alignment, 25% ADX, 25% higher-timeframe read, 15% slope) — the dashboard breaks out all
seven components individually so the score is never a black box.
🔸 Flow Marks — BO / RT / FBO / Sweep
BO tags the confirmed breakout bar. RT tags a retest of the broken range edge that holds
(with a running count). FBO tags a breakout that closed back inside the range — a false
breakout, not a win or loss judgement. Sweep tags a wick that pierced the range edge and
closed back inside — liquidity taken without a directional close.
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🔷 THE KNN ENGINE (LORENTZIAN DISTANCE)
🔸 How the library is built
Every rule-qualified breakout gets a 6-feature fingerprint (trend, momentum, volume,
volatility, structure, breakout quality). Its outcome is then resolved forward, stop
checked first: 1R target reached before the stop = win, stop first = loss, neither
within the configurable outcome window (15–600 minutes) = discarded as undecided —
drifts are never counted as losses, so the base rate reflects only decisive breakouts.
Every qualified candidate is recorded regardless of outcome, so the library grows
without selection bias.
🔸 How a new candidate is voted
A new candidate is compared to the stored library (up to 300 records) by Lorentzian
distance. The K nearest historical analogues (3–15, default 5) vote, and the vote share
is shown on the signal label and dashboard.
🔸 Advisory vs. Gate
Advisory mode (default) displays the vote as context; it never blocks a signal, so the
set of signalling bars stays fully deterministic regardless of library state. Gate mode
(opt-in) also requires the vote to clear a minimum share before a signal fires — this
trades determinism for selectivity and is only meaningful once the library has grown
past a configurable minimum size.
🔸 Read honestly
With a 6-feature fingerprint, the nearest neighbours of a few-hundred-record library
span roughly half of each feature's range — the vote is a coarse regional tendency, not
a precise analogue match. Loading a different amount of chart history can change the
displayed vote (Advisory) or which candidates pass (Gate); this is inherent to on-chart
instance-based learning and is disclosed rather than hidden. The indicator requires a
symbol with volume data — volume-less feeds (some cash indices / spot FX) cannot render
the KNN engine.
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🔷 SIGNALS AND DISPLAY
🔸 Dashboard
A compact table shows Session, Regime, ML Engine status (library size / warm-up state),
locked Range, Bias, the 7-factor Rule Confidence bar, Risk-per-Unit, the active Trade
Plan, and a Flow Marks legend. An optional Full mode expands all seven score components.
🔸 Trade Plan overlay
On a qualified signal the indicator draws an entry, stop, and take-profit levels using
one of three configurable methods: a fixed R ladder, an opening-range-width measured-move
projection, or an ATR-scaled EMA-dynamic trail. This is a reference overlay describing
one rules-based way to structure the trade *if* you choose to take it — it is not a
recommendation, and the levels are not a performance claim.
🔸 Non-repainting
Signals evaluate on confirmed closes only. Locked range levels never change once set.
Higher-timeframe reads use ` ` plus `lookahead_off`. The KNN library is built strictly
from already-resolved past outcomes — no future data is read at any point.
🔸 Alerts
19 `alertcondition()` calls cover long/short entries, false breakouts (combined and
per-direction), confidence-threshold crosses, range completion, trend-context changes,
take-profit and stop touches (combined and per-level), reversals, session-end exits,
approaching-breakout warnings, retests, and sweeps above/below the range. Recommended
alert setting: *Once Per Bar Close*.
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🔷 INPUTS
🔸 Opening Range — Session anchor, custom session/timezone, range length (minutes).
🔸 Signal Engine — Minimum Rule Confidence threshold, TP method (R Ladder / OR Width
Projection / Dynamic EMA), R-ladder multiples, wide-range-OR filter.
🔸 KNN · ML Engine — Mode (Advisory / Gate / Off), K neighbours, history length,
minimum ML vote (Gate only), outcome window (minutes), Gate minimum library size.
🔸 Filters — Signal Blackout window (session-anchor timezone), max signals per
session, news filter.
🔸 Visual — Bull/bear colours, dashboard position and detail level, Zen mode (hides
text labels, keeps shapes/zones only).
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🔷 REQUIREMENTS AND LIMITATIONS
Requires a symbol with volume data — the KNN engine cannot render on volume-less feeds
(some cash indices, spot FX). The KNN vote is a coarse regional tendency drawn from a
finite on-chart library, not a precise analogue match or a probability estimate; it is
advisory by default for that reason. Loading a different amount of chart history changes
the displayed vote in Advisory mode, and can change which candidates pass in Gate mode —
this is inherent to on-chart instance-based learning and is disclosed rather than hidden.
This is a decision-support toolkit: it does not place trades, and no element of the
dashboard, score, or trade-plan overlay is a claim about future performance. Always
apply independent risk management.
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Built natively in Pine Script® v6. Seven-factor rule-based confluence scoring with an
on-chart, self-learning KNN engine using Lorentzian distance over resolved breakout
outcomes — no external libraries, no repainting, no lookahead.
Open source — Mozilla Public License 2.0. Indicator
Indicator
Zero Noise Opening RangePure structure. Zero noise.
The opening range, outlined. Nothing else.
What it does
Sessions: New York (09:30 ET), London (08:00 UK), Asia (09:00 Tokyo) — one, all three, or a custom open time and timezone. Each session is tracked independently.
Range length: the first 5m, 15m, 30m, or 1h of the open, or a custom length.
Extend Until: Break Confirmation (default) freezes the range when a candle of your confirmation timeframe (1m–30m) closes outside it. Closed candles only — wicks don't count, nothing repaints. Session End runs the range to the close regardless of breaks.
Every range ends at its market's close (NY 16:00 ET, London 16:30 UK, Tokyo 15:30 JST).
Broken ranges grey out (optional), so live levels stay obvious.
Works on any intraday chart up to 1h. Above the range length, the range is rebuilt from 1-minute data for exact alignment.
What it doesn't do
No signals, no alerts, no arrows. An opening range is context. The trade is yours.
Settings
Session: New York / London / Asia (Tokyo) / All 3 / Custom (default: All 3)
Opening range: 5m / 15m / 30m / 1h / custom minutes
Break confirmation candle: 1m to 30m (default 5m)
Midline, fill, grey-out, tags, days kept, watermark — all optional
Futures, stocks, and FX. A notice panel flags any invalid setting.
For informational and educational purposes only — not financial advice. Trading involves substantial risk of loss; past performance does not guarantee future results. Indicator
Time Based ORBTime Based ORB — Multi-Anchor Opening Ranges with Session Context
WHAT IT DOES
Plots up to three independent, time-anchored opening ranges (defaults: 7:30,
8:50, and 9:30 ET) as boxes with high/low/midpoint lines extended to 16:00 ET,
alongside a session-anchored VWAP and the prior day's key reference levels:
Midnight Open (MNO), Previous Day High (PDH), Previous Day Low (PDL), and
Previous Day Midpoint (PDMid).
WHY THESE COMPONENTS ARE COMBINED
This is not a collection of unrelated tools — it implements one workflow:
trading opening-range breakouts *in context*. An ORB breakout signal alone
has a weak edge; its quality depends on where the range sits relative to
the prior day's structure and whether price is trading with or against
session value:
- The three time anchors map how the range develops: the 7:30 range captures
pre-market structure, the 8:50 range captures positioning just before the
cash open, and the 9:30 range is the classic opening range. Nesting or
expansion between them shows whether the open is compressing or trending.
- PDH/PDL/PDMid define the levels a breakout must clear to have room to run.
A 9:30 breakout directly into PDH is a very different trade than one
breaking out above it.
- Session VWAP acts as the with-value / against-value filter: breakouts
taken on the VWAP side of price have participation behind them; breakouts
against VWAP are treated as fade candidates.
The components share one anchoring engine and one alert framework, which is
why they live in a single script rather than three indicators stacked on
a chart.
HOW IT WORKS
Ranges are captured from the high/low of the bar at each configured ET time,
then drawn as boxes with extended H/L and midpoint lines. Breakout icons
print once per range per day on the first confirmed close outside the range.
Prior-day levels are requested from confirmed daily data (no repainting).
VWAP is session-anchored, matching PulseWire's built-in, with optional
standard-deviation bands. All times use America/New_York regardless of
chart timezone.
HOW TO USE
Intraday timeframes (1–15 min). Set your anchor times in Settings or use
the defaults. Alerts are available for every range breakout, VWAP cross,
and PDH/PDL break. Indicator
ORB Opening Range I EonMetrics ORB - Opening Range
ORB marks the opening range — the high and low of the first minutes of a session — and tracks what price does with it for the rest of the day: breakouts by closing price, failed breakouts that snap back inside, and extension levels projected from the range height. The last few days stay on the chart so you can judge at a glance how your instrument actually behaves around its open.
🔶 HOW IT WORKS
From the session open (New York 09:30 by default) the script records the high and low of the first X minutes — 5 to 60, you choose. When the window closes, the range is frozen: a box marks the window, and the high/low lines extend forward until the next session begins. The first candle that CLOSES outside the range tags the breakout; a close back inside within your chosen number of bars tags it as FAILED and re-arms the day.
🔶 WHY THE OPENING RANGE MATTERS
The first minutes of a session concentrate the reactions to everything that accumulated while the market was closed or quiet: overnight news, opening auctions, the first institutional orders of the day. The range those minutes carve out is the day's first agreed-upon value area. That is the reasoning behind the concept, and it is why the tool also tags a move that closes back inside the range rather than only tagging the escape — the two outcomes describe different sessions.
Worth stating plainly: this is the rationale for the concept, not evidence that it works. Whether your instrument respects its opening range is an empirical question about that instrument, and the History setting exists so you can answer it with your own eyes before relying on anything here.
🔶 WHAT IT DOES
Opening range — box over the window (5/15/30/45/60 min), frozen high/low lines extended through the session. Session presets: New York 09:30, London 08:00, Tokyo 09:00, or a fully custom open time with its own timezone (DST handled by the timezone database, not by fixed offsets).
Extension levels — optional lines at ±0.5×, ±1×, ±1.5× and ±2× the range height, projected above the high and below the low. These are reference levels for reading how far a move has traveled relative to the range — the script does not call them targets, because they are not.
Breakout status — evaluated on closing prices only, never on wicks. First close above the high tags ORB ▲, first close below the low tags ORB ▼. A close back inside the range within K bars tags FAIL and re-arms the day, so a later genuine breakout can still be tagged.
History — the last D days of ranges stay on the chart (configurable). Scrolling back through a week of your own instrument is the fastest way to see whether its opening range is worth watching at all.
🔶 ALERTS
Four alert conditions: opening range set, breakout above, breakout below, failed breakout.
🔶 HOW TO USE
1. Pick the session that matches your market — NY 09:30 for US indices and metals, London 08:00 for European hours, or a custom time.
2. Pick the window length. 15 and 30 minutes are the classic choices; shorter = earlier levels, noisier range.
3. Watch the first close outside the range — and read a quick close back inside (the FAIL tag) as a description of that session, not as noise to ignore.
4. Set the four alerts and stop watching the open candle by candle.
🔶 SETTINGS
Session (preset / custom time + timezone, range length) · Levels & Breakout (extension multiples, failed-breakout window, days of history) · Style (colors, box fill).
🔶 HONEST LIMITATIONS
The opening-range concept assumes a session with a real open — indices, metals, forex sessions. On 24/7 crypto a "session open" is a convention: the tool works there mechanically, but the premise behind it is weaker, and you should know that before trading around it. The chart timeframe must be at or below the window length (a 30-minute range cannot be built from hourly bars — the indicator stays empty rather than guessing). This tool draws levels and states facts about closes; it does not generate signals or targets.
Part of the EonMetrics toolset.
Indicator
ORB & Session Liquidity Model [JOAT]ORB and Session Liquidity Model
Builds the opening range for your chosen session, maps the liquidity around it, and signals breakouts with session-aware trade control.
What it is
The first minutes of a session set a reference range that the rest of the session repeatedly reacts to. This indicator defines that opening range, tracks the liquidity sitting above and below it, and signals confirmed breakouts — with session timing, a daily trade cap and full trade framing built in. It is an original session-driven model, not a generic breakout line.
How it works
• Opening range — during a user-defined opening window (for example the first N minutes of your session), the tool records the high and low. Once the window closes, that range is locked as the reference for the rest of the day and drawn as a box.
• Session logic — the model resets cleanly each new day using a real session-change test, so counters and levels do not carry stale values across sessions. Trading is only permitted inside the active session window you define.
• Liquidity ladder — levels around the range (its extremes and projections) are drawn and labelled as the liquidity price is likely to seek. These give context for where a breakout may run to or reverse from.
• Breakout signals — a Buy fires on a confirmed close beyond the range high plus a buffer; a Sell on a confirmed close below the range low minus the buffer. A per-day maximum-trades cap and a minimum-gap control prevent the level from generating repeated prints as price oscillates around it.
Trade levels
Each breakout draws a red risk box to the stop and a green reward box to the third target, with inner dividers and right-edge labels for entry, stop and each take-profit at your R multiples. Stops relate to the range, which is the structure the trade is based on.
The dashboard
An adjustable session-console panel shows the current session phase (pre-range, range building, or live), the locked range, the directional bias relative to it, the trades used against the daily cap, the active signal, a conviction estimate, and a live first-target-before-stop tally from closed bars only.
How to use it
• Set the opening window and session to match the market you trade (indices, futures, forex sessions, crypto day boundaries).
• Wait for the range to lock, then trade confirmed breakouts in the direction of your bias; use the liquidity ladder for targets and invalidation.
• The daily cap keeps the model disciplined — respect it rather than overriding on every wiggle.
Settings
Opening-range window, session hours, breakout buffer, maximum trades per day, liquidity options, risk multiple and target R multiples, plus visual and dashboard controls.
Originality and usefulness
Opening-range breakout is a known concept; the contribution here is the integrated liquidity mapping around the range, the strict session reset and daily trade governance, the confirmed-close breakout logic, and the full non-repainting trade framing — assembled into one session-aware model and explained so each element's role is clear.
Notes and limitations
• Breakouts can fail, and range-bound sessions produce whipsaws around the levels — the buffer and daily cap reduce but do not eliminate this.
• Session settings must match the instrument; a mismatched window will define the range at the wrong time.
• The tally reflects only past bars on the current chart and is not a forecast.
• Educational and analytical tool, not financial advice.
— made with passion by officialjackofalltrades
Indicator
Opening Range Breakout ORB - Signals, Targets & Alerts [LunqFX]The Opening Range Breakout (ORB) is one of the most traded intraday strategies — but most ORB indicators only draw the opening range box and leave you guessing. This Opening Range Breakout indicator goes further: it marks the opening range, detects the first genuine breakout, filters fakeouts, projects measured-move targets, and — uniquely — builds a live breakout statistics engine from the last 100 trading days of the symbol on your chart.
What makes this ORB indicator different
Instead of a static box, you get a data-driven read on how your market actually behaves after the opening range:
First-break direction split — how often the day breaks up vs down
Hold rate — how often the first breakout direction holds into the close
Fakeout rate — how often the first breakout fails back inside the range
Target hit rates — how often price reaches 1x and 2x the opening-range height
So before you take the trade you can see, for example, that on this symbol the upside breakout holds into the close 62% of the time and the 1R target is reached on 48% of breakout days.
How the opening range breakout is calculated
Auto mode works on every market with zero setup. The opening range starts at each day's open of the symbol's own exchange — stocks at the 09:30 session open, crypto at the 00:00 UTC daily open, forex and futures at their session open — and lasts a chosen number of minutes (the classic 5-minute, 15-minute or 30-minute ORB). A Custom mode lets you define any session window, such as the London or New York open.
When the opening-range window closes, the range high and low are locked and projected forward as levels.
The first candle close beyond the range (or wick, if you prefer) is treated as the breakout. Targets are projected at 1x and 2x the range height in the breakout direction.
A close back inside the range before the first target is reached is flagged as a fakeout. A breakout that reaches 1R first and only then returns is counted as a valid breakout, not a fakeout.
At the end of each trading day the outcome is recorded — direction, hold, fakeout, targets — and the dashboard percentages are plain rolling hit rates. No repainting, no curve fitting.
How to use it
Breakout day trading: trade the first breakout with more context — use the hold rate to judge whether the break on your symbol is worth taking, and size your target from the 1R / 2R hit rates.
Fakeout fade: when a symbol shows a high fakeout rate, the failed breakout back inside the range is often the better setup; the fakeout is marked in real time.
Range-quality filter: the dashboard shows the opening range as a multiple of ATR, so you can skip abnormally small ranges that tend to break out randomly.
Works on any symbol and any intraday timeframe (1m–15m recommended): index futures and CFDs (NAS100, SPX500, US30, NQ, ES), stocks and ETFs (SPY, QQQ), gold (XAUUSD), Bitcoin and crypto, and forex majors.
Dashboard
A clean on-chart panel shows today's live status (building range → inside range → breakout → target hit or fakeout), the opening-range high/low and its size in ATR, and the full statistics block with the sample size always visible.
Settings
Auto anchor (any market, zero setup) or fully custom session window with timezone control — 5 / 15 / 30-minute ORB or any session open
Close-based or wick-based breakout logic
Adjustable target multiples, rolling statistics window, and visuals
Alerts for range locked, breakout up, breakout down, fakeout, target 1 and target 2
Optional gradient momentum candles that can be switched off
No repainting
The opening range is fixed the moment its window closes. Breakouts, fakeouts and targets are confirmed on closed bars only, and the statistics are built exclusively from completed trading days — never recalculated backwards.
This indicator is an educational market-analysis tool, not financial advice. Historical statistics describe past behavior and are not a guarantee of future results. Always confirm with your own analysis and manage your risk.
Indicator
Indicator
[ A L P H A X ] MERIDIAN - Session Intelligence EngineAlphaX MERIDIAN — Session Intelligence Engine: Multi-Session Range Tracking, Prior Session Break & Retest, Opening Range Breakout, Meridian Bounce & 7-Layer Confluence Scoring
AlphaX MERIDIAN is a professional-grade session-based trading system built around the foundational truth that institutional price delivery is not random across the clock — it is organized by session. The Asian session defines the overnight range. London breaks it. New York confirms the direction or reverses it. Every major intraday move originates from one of three specific events: a break and retest of the prior session's high or low, a breakout of the opening range, or a pullback to the session's meridian equilibrium level. MERIDIAN detects all three in real time across all three global trading sessions, scores every potential entry through a 7-layer confluence engine, and fires signals only when session bias, VWAP positioning, HTF alignment, volume, and setup quality all confirm simultaneously. The result is a system that puts every trade in its correct session context — not just where price is, but which session it is in , what the prior session established , and where the institutional session bias currently sits . Designed for active traders across forex, gold, indices, and crypto on M1 through H1 timeframes.
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🌐 The Session Framework — Why Sessions Define Institutional Flow
Every liquid market is driven by three geographically separated groups of institutional participants operating in overlapping but distinct time windows: Asian banks and sovereign funds, European institutional desks and London market makers, and American institutional desks and New York banks. Each group has a characteristic trading behavior that shapes price during their active window.
Asian Session — The Range Builder:
During Asian hours, liquidity is thinner and price tends to consolidate or range within a defined high-low channel. The Asian session range represents the overnight consolidation — the zone where price equilibrates before the European open. The extremes of the Asian range are the first liquidity pools that London will target.
London Session — The Trend Initiator:
London is the world's most liquid trading session. European institutional desks frequently break the Asian range in the first hours of the London open — hunting the liquidity sitting above and below the overnight extremes before establishing the day's primary directional trend. The London opening range (the first N minutes of the session) frequently establishes the high or low of the day.
New York Session — The Confirmer or Reverser:
New York either confirms the London trend with continuation, or reverses the late-London move in the early New York hours. The London/NY overlap (typically 13:00–17:00 UTC) is the highest-volume period of the day and frequently produces the largest directional moves.
MERIDIAN is built around this three-session cycle. The prior session's high, low, and meridian are the key reference levels. The opening range of London or NY is the breakout reference. The session VWAP and meridian divide the current session into institutional premium (above) and discount (below). Every signal is evaluated in the context of which session it occurred in and what the prior session established.
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⏱ Session Tracking Engine
MERIDIAN runs a fully independent session tracking system for all three global sessions simultaneously, configurable to any timezone.
Session detection:
Each session is defined by a configurable start and end hour in the selected timezone (default: UTC). The session engine detects the active session on every bar and correctly handles overnight sessions (sessions that span midnight). When no configured session is active, the system enters an OFF state and session-based calculations pause.
Session-by-session OHLC tracking:
From the first bar of each session, MERIDIAN tracks the rolling high, low, and open of the session in real time. Every new bar within the session extends these values — the session high and low expand with price, and the session meridian recalculates continuously as the range develops.
Session transition logic:
When a session changes, the completed session's high, low, and meridian are stored as the prior session reference. These prior session values persist until the next completed session overwrites them — giving you continuous access to the most recently completed session's key levels at all times.
Session VWAP (Volume Weighted Average Price):
A true session-anchored VWAP is computed from the first bar of each session — cumulative volume-weighted price divided by cumulative volume since the session open. This produces the purest possible VWAP calculation anchored to the correct institutional reference point: the session's opening bar.
Session Meridian (Equilibrium):
The midpoint of the current session's high-low range — (session high + session low) / 2. This level is the MERIDIAN line, plotted as a purple dotted line on the chart. It represents the current session's equilibrium — above is institutional premium, below is institutional discount, relative to where the session has traded.
Current session box:
The full range of the active session is visualized as a lightly tinted box extending from the session start bar to the current bar. Asian session boxes are gray, London boxes yellow-green tinted, and New York boxes red-tinted — providing immediate visual session identification across the chart.
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📍 Prior Session Levels — The Institutional Reference Grid
The most important reference levels in intraday trading are the extremes established by the prior session. These are not arbitrary horizontal lines — they represent the boundaries of the range where an entire session's worth of institutional activity occurred. Breaking these levels is how one session's institutional participants establish control over the next session's price delivery.
Prior Session High (red dashed):
The highest price reached during the most recently completed session. This is the sell-side resistance level — the level above which bears were unable to sustain prices in the prior session. A close above this level in the current session is a significant break of prior institutional resistance.
Prior Session Low (yellow-green dashed):
The lowest price of the prior session. This is the buy-side support level — where buyers successfully defended price in the prior session. A close below this level represents a break of prior institutional support.
Prior Session Meridian (purple dotted):
The midpoint of the prior session's range. This level frequently acts as a magnet — price is drawn to the prior session's 50% level on pullbacks, retracements, and continuation moves. It represents the most-traded price zone of the prior session in range-position terms.
All three prior session levels are plotted as forward-extending lines covering the relevant history window. The prior session name (ASIAN / LONDON / NEW YORK) is displayed on the dashboard so you always know which session's levels you are referencing.
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📦 Opening Range — The First N Minutes
The Opening Range (ORB) is one of the most consistently respected intraday reference structures across all liquid markets. It represents the range established in the first configurable number of minutes of the London or New York session (default: 30 minutes). Once the opening range is set, breakouts above and below its boundaries frequently produce the day's strongest directional moves.
How the opening range is built:
From the first bar of each London or New York session, MERIDIAN accumulates the highest high and lowest low across all bars that fall within the opening range time window. Once a bar falls outside the ORB time window, the range is locked — the ORB high and ORB low are fixed for the remainder of the session.
ORB visualization:
The completed opening range is rendered as an orange-tinted box on the chart, spanning from the first ORB bar to the last ORB bar. This box remains on the chart as a reference level for the session.
Dashboard ORB status:
The dashboard displays the ORB status as FORMING (while the range is still building) or SET (once locked), along with the exact ORB high and low prices. This gives you advance notice before the ORB is complete — you can watch it forming in real time and prepare for the Setup B breakout signal.
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📊 Session Bias — VWAP and Meridian Positioning
MERIDIAN defines the current session's directional bias through two independent price positioning checks that together create a clear institutional bias reading.
VWAP bias:
Price above the session VWAP indicates institutional net-buying for the session — the volume-weighted average of all transactions favors the bull side. Price below indicates net-selling. The VWAP bias is updated on every bar as new volume flows in.
Meridian bias:
Price above the session meridian (the session range midpoint) means price is in the upper, premium half of the session range. Price below is in the discount half.
Combined session bias:
sessBull — price is both above VWAP and above the session meridian. Both the volume-weighted and range-position measures confirm bullish institutional bias
sessBear — price is both below VWAP and below the session meridian. Both measures confirm bearish institutional bias
This combined bias is the most important single dashboard reading in MERIDIAN. A bullish session bias means the institutional context favors long entries. A bearish session bias favors shorts. Entries against the combined session bias carry the highest failure rate of any MERIDIAN setup.
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🏷 Three Setup Types — A, B, and C
MERIDIAN fires signals through three distinct setup configurations, each representing a different institutional entry scenario anchored to session-based reference levels. All three can be enabled simultaneously.
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Setup A — Prior Session Break & Retest
The most institutionally significant setup type. Fires when:
The current session's price closes above the prior session high (long) or below the prior session low (short) — the structural break of the prior session's boundary
Within 30 bars of the break, price pulls back to within ATR tolerance of the broken level
A qualifying rejection candle forms at the retest — confirming the broken level has flipped from resistance to support (long) or support to resistance (short)
Why prior session break and retest is the highest-quality setup: When London breaks the Asian high and then retests it, the break has been confirmed as a genuine institutional breakout rather than a wick spike. The retest at the prior session level provides the optimal entry price — buying exactly at the prior resistance that has now become support, with the stop below the level and the continuation target above. This is the institutional "break, retest, continue" sequence that produces the cleanest risk/reward in session-based trading.
Break detection markers: Small semi-transparent circles appear above (prior high break) or below (prior low break) the bar that closes through the prior session boundary — alerting you that a pending retest setup is now active. The system tracks the pending retest for up to 30 bars. If no qualifying retest occurs within that window, the pending state expires.
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Setup B — Opening Range Breakout
The high-momentum setup type. Fires when:
The opening range has been fully set (ORB locked after the opening range period has elapsed)
Price closes above the ORB high (long) or below the ORB low (short) — the first close-based break of the opening range boundary
The close is on the correct side of the prior bar's close relative to the ORB level — confirming the break is not a wick through and back
A qualifying bull or bear rejection candle (minimum 50% wick ratio) confirms the breakout bar's directional commitment
Why the ORB breakout is a high-conviction institutional signal: The opening range represents the indecision of the first N minutes of a session — the market testing price levels before committing to a direction. The first body close beyond the ORB boundary is the signal that the indecision has resolved and institutional order flow has committed to a direction. The rejection candle requirement ensures the break was not passive drift but a genuine directional conviction bar.
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Setup C — Meridian Bounce
The continuation and trend-following setup type. Fires when:
The session bias is fully established (sessBull for long, sessBear for short)
Price pulls back to within ATR tolerance of the session meridian (the session range midpoint)
A qualifying rejection candle forms — confirming the meridian held and price is rejecting back in the bias direction
Why the meridian bounce is a reliable continuation entry: In a trending session where price is above VWAP and above the session midpoint (sessBull), the meridian represents the natural pullback target — the highest-volume price zone within the session's lower half. Institutional buyers who missed the initial move use meridian pullbacks to add to positions. The rejection at the meridian in a sessBull environment is the continuation entry that offers the tightest stop (just below the meridian) with the continuation toward the session high as the target.
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🧠 The 7-Layer Confluence Engine
Every potential entry across all three setup types is scored through the same 7-layer confluence engine. The minimum default is 5 of 7.
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Layer 1 — Session Bias (Combined)
Awards 1 point when the combined session bias (sessBull for long, sessBear for short) agrees with the signal direction. This requires both VWAP positioning and meridian positioning to be aligned — the strongest single session-level directional indicator available.
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Layer 2 — VWAP Positioning
Awards 1 point when price is on the correct side of the session VWAP — above for longs, below for shorts. The VWAP layer is available independently from the combined session bias layer. On bars where price is above VWAP but below the meridian (or vice versa), the session bias may not score but the VWAP layer still contributes.
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Layer 3 — HTF Bias
Awards 1 point when the higher timeframe EMA structure (default: 60-minute, 21/55 EMA pair) agrees with the signal direction. Ensures the session-level setup is aligned with the macro institutional flow. A session setup against the HTF trend carries the highest failure rate of any setup type.
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Layer 4 — Trading Session Enabled
Awards 1 point when the current session is one of the configured tradeable sessions (London and NY on by default, Asian off by default). This layer enforces session selectivity — preventing signals from firing during sessions you have chosen not to trade. If the Asian session is disabled for trading, Asian session signals are blocked at this layer regardless of how strong the other confluences are.
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Layer 5 — Volume Expansion
Awards 1 point when the current bar's volume exceeds the volume moving average by the configured minimum multiplier (default: 1.1×). Confirms that the rejection candle or breakout bar has genuine institutional participation behind it — not a low-volume drift through a reference level.
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Layer 6 — Rejection Candle Quality
Awards 1 point when a qualifying bull or bear rejection candle is present. Bull rejection requires a bullish close with the close-to-low distance exceeding 50% of the bar range. Bear rejection requires a bearish close with the high-to-close distance exceeding 50%. This layer ensures the reference level produced a visible, decisive price rejection — not a passive touch.
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Layer 7 — Setup Type Trigger
Awards 1 point when any of the three enabled setup types fires on the current bar — a prior session retest (Setup A), an ORB breakout (Setup B), or a meridian bounce (Setup C). This layer is both a confluence score contributor and a hard prerequisite — no signal can fire without at least one setup type triggering.
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🕯 Rejection Candle Confirmation
All three setup types require a qualifying rejection candle for a signal to fire. Two candle types qualify:
Bull rejection: A bullish close (close above open) where the distance from close to bar low exceeds 50% of the total bar range. The bar closed in its upper half — buyers dominated and rejected the level being tested.
Bear rejection: A bearish close where the distance from bar high to close exceeds 50% of the total range. The bar closed in its lower half — sellers dominated the rejection.
The same 50% wick threshold applies across all three setup types, ensuring every MERIDIAN signal has a consistent, minimum candle quality standard regardless of which session event triggered it.
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🎯 Session-Anchored Stop Loss Placement
MERIDIAN places the stop loss at the most conservative of several session-based reference levels, plus an ATR buffer.
For bull signals: The stop is placed at the minimum of the current bar's low, the prior session high (the retested level), the ORB low (if applicable), and the session meridian — whichever is lowest — minus the configured ATR buffer (default: 1.0× ATR). This ensures the stop is beyond the level that would structurally invalidate the signal.
For bear signals: The stop is at the maximum of the current bar's high, the prior session low, the ORB high, and the session meridian, plus the ATR buffer.
Dynamic TP target: The take profit is computed as `risk × R multiple` (default: 2.5R) from the entry close — adapting to the actual stop distance rather than using a fixed ATR projection. On entries where the session reference stop is very close to entry, this naturally produces a tighter target; on wider stops, the target scales accordingly.
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📊 Live Dashboard
The 16-row real-time dashboard displays the complete internal state across five sections.
SESSION
Active — the currently active session: ASIAN, LONDON, NEW YORK, or OFF
VWAP Bias — ▲ ABOVE or ▼ BELOW, showing whether price is above or below the session VWAP. Color-coded yellow-green and red
Meridian — the exact price of the current session's equilibrium midpoint (session high + low / 2), color-coded purple
PRIOR SESSION
Prior Sess — which session completed most recently: ASIAN, LONDON, or NEW YORK
Prior Hi / Lo — the exact high and low of the prior session displayed as a price pair. These are the Setup A reference levels
OPENING RANGE
ORB Status — FORMING (still within the ORB time window) or SET (locked, breakout mode active). Orange when SET
ORB Hi / Lo — the exact opening range high and low prices once the range is locked
FILTERS
HTF Bias — higher timeframe EMA alignment: ▲ BULL, ▼ BEAR, or — FLAT
CONFLUENCE
Bull Score — live 0–7 score. Background highlights yellow-green when threshold is met
Bear Score — live 0–7 score. Background highlights red when threshold is met
Live confluence label: During active sessions, a small label near the session box displays B x/7 · S x/7 in real time, updated every bar — identical to ANCHOR, PIVOT, and the other systems in the AlphaX suite.
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📈 Chart Visual System
Current Session Box — a lightly tinted box covering the full range of the active session from its first bar to the current bar. Gray for Asian, yellow-green tinted for London, red tinted for New York
Session VWAP (cyan) — the volume-weighted average price anchored to the session start, plotted as a solid cyan line. The most important intraday reference for institutional fair value
Session Meridian (purple dots) — the session range midpoint (50% of the current session's high-low range), continuously updated
Prior Session High (red dashed) — the completed prior session's high. Setup A reference level for long setups
Prior Session Low (yellow-green dashed) — the prior session's low. Setup A reference level for short setups
Prior Session Meridian (purple dotted) — the midpoint of the prior session's range
Opening Range Box (orange tinted) — the locked ORB from the session start to the end of the opening range period. Setup B reference box
● Break markers (semi-transparent circles) — appear above the bar (prior high break) or below (prior low break) at the moment of the structural break, signaling a pending retest opportunity
▲ Triangle (below bar, yellow-green) — long signal. All conditions confirmed across any of the three setup types
▼ Triangle (above bar, red) — short signal
Live confluence label — B x/7 · S x/7 near the current session range on the last bar
SL Guide (red dotted circles) — session-anchored stop loss reference level
TP Guide (yellow-green dotted circles) — dynamically computed reward target
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🚀 How to Trade with AlphaX MERIDIAN — Step by Step
Step 1 — Begin Each Session with a Reference Review
At the start of each London or NY session, check the dashboard for Prior Hi / Lo — these are your key Setup A reference levels for the session
Note the ORB Status — during the first 30 minutes of London or NY, watch the ORB forming. The ORB Hi / Lo will be your Setup B breakout reference once SET
Check HTF Bias — does the higher timeframe trend favor longs or shorts? This is the filter that determines which direction's signals you prioritize
Step 2 — Monitor Session Bias Development
As the session opens and develops, watch the VWAP Bias and Meridian rows on the dashboard. When both show ▲ ABOVE, the session bias is fully bullish — prioritize long setups. Both ▼ BELOW = prioritize shorts
Watch the live B/S score label near the session box. When the bull or bear score approaches the threshold, a signal may be imminent
Step 3 — Enter on the MERIDIAN Signal
A ▲ triangle below the bar confirms one of the three setup types has fired with sufficient confluence
Read the signal context: did price just retest the prior session high? Break the ORB? Bounce from the session meridian? The setup type determines which level your stop references
The SL and TP guides appear as dotted circles. The SL is the session-anchored structural stop. The TP is the R-multiple target
Setup A retests are the highest-quality entries — the prior session level has been validated as the new support/resistance. Setup B ORB breaks are highest-momentum. Setup C meridian bounces are best in strongly trending sessions
Step 4 — Manage Within the Session Context
Watch the session VWAP as the trade develops — price returning to VWAP during a long trade is a warning sign that session bias may be weakening
If the session meridian switches sides (price moves from above to below the session midpoint), the session bias has flipped. Consider tightening the stop or taking partial profit
Session transitions are exits: if London closes while you are in a trade, the session reference levels will update to New York levels on the NY open. Reassess the position in the context of the new session
Step 5 — End of Session Reset
At session end, the current session's high, low, and meridian become the prior session reference for the next session
The ORB resets for the new session's opening
Review the completed session's range and meridian before the next session opens — these become your Setup A reference levels going forward
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⚠ Identifying Low-Quality Conditions — When Not to Trade
Stand aside when:
Session shows OFF — no active session is being tracked. All signals are blocked and session reference levels may be stale
Session bias is split — VWAP and Meridian disagree — price above VWAP but below the session meridian (or vice versa) means the session has no clear institutional direction. The combined session bias layer will not score, reducing confluence quality
HTF Bias opposes the session bias — a bullish session bias against a bearish HTF means the current session is moving counter to the macro trend. These setups carry significantly higher reversal risk
ORB Status shows FORMING — the opening range has not been locked. No Setup B signals can fire. Do not anticipate the ORB breakout before the range is set
Prior Hi / Lo shows — on the dashboard — no completed prior session data is available. Setup A setups cannot fire. This occurs at the start of the first session after the chart loads
Confluence score is at minimum threshold exactly — when the score is at exactly the minimum and one or two filters are failing, the setup is borderline. Reduce position size or wait for a higher-quality signal
Multiple setup types firing simultaneously in the same direction — this is usually a positive signal, but verify the session context. If the ORB breakout, prior session retest, and meridian bounce are all triggering at the same time in the same bar, one of them is likely being triggered by coincidental price overlap rather than genuine session mechanics
The ideal MERIDIAN setup:
London or NY session active with tradeSessOk confirmed
HTF Bias and Session Bias both aligned in the same direction
Prior session high or low recently broken (Setup A pending) OR ORB locked and ready for Setup B
Price returning to the reference level with VWAP and Meridian both on the correct side
Strong rejection candle with volume above average
Confluence score at 6/7 or 7/7
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⚡ Key Features
🌐 Three-session tracking engine — Asian, London, and New York sessions tracked simultaneously with configurable start/end hours and timezone support
📊 Session-anchored VWAP — true cumulative VWAP computed from the first bar of each session, providing the most accurate institutional fair value reference per session
📍 Prior session levels — high, low, and meridian of the most recently completed session maintained and displayed as dashed reference lines
📦 Opening Range Box — first N minutes of London/NY captured as an orange ORB box with live FORMING / SET status. Breakout reference for Setup B
⚖ Session Meridian (Equilibrium) — the session range midpoint plotted as a purple dotted line, the equilibrium level for Setup C bounces and the combined session bias divider
🏷 Three setup types — Setup A (Prior Session Break & Retest), Setup B (Opening Range Breakout), Setup C (Meridian Bounce) — all configurable independently
🔮 Pending retest tracking — 30-bar retest window after every prior session break, with break circle markers at the moment of the structural break
🧠 7-layer confluence engine — Session Bias, VWAP Position, HTF Bias, Trading Session Gate, Volume Expansion, Rejection Candle, and Setup Type Trigger scored independently every bar
📊 Live confluence label near the session box — B x/7 · S x/7 updating in real time on the current bar
🎯 Session-anchored stop loss — stop placed at the most conservative of multiple session reference levels, not a fixed ATR distance
💹 Dynamic R-multiple TP target — computed as risk × R multiple, adapting to the actual stop distance
📡 HTF EMA bias filter — dual-condition higher timeframe alignment (EMA crossover + price confirmation)
⏱ Session trading filter — independently enable or disable signal firing for each of the three sessions
🎨 Session-coded color system — session box tints differentiate Asian (gray), London (yellow-green), and New York (red) at a glance
📊 16-row live dashboard — Session, Prior Session, Opening Range, Filters, and Confluence sections updated in real time
🔔 6 alert conditions — long/short entry, prior high/low break, ORB long/short breakout
⚙ Fully configurable — all session hours, timezone, ORB duration, setup type enables, confluence minimum, HTF timeframe and EMAs, volume filter, session trading gates, SL buffer, R-multiple target, and all colors are independently adjustable
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⚙ Settings Reference
Session Engine
Session Timezone — UTC / America/New_York / Europe/London / Asia/Tokyo. Set to your preferred reference timezone
Track Asian Session — toggle Asian session tracking on or off
Asian Start / End (hour) — hour boundaries for the Asian session in the selected timezone (defaults: 0 / 8)
Track London Session — toggle London session tracking
London Start / End (hour) — hour boundaries for London (defaults: 8 / 13)
Track NY Session — toggle New York session tracking
NY Start / End (hour) — hour boundaries for NY (defaults: 13 / 21)
Opening Range (mins) — the number of minutes from the session open used to build the ORB (default: 30)
Entries & Confluence
Setup A · Prior Session Break & Retest — toggle the break-and-retest setup type
Setup B · Opening Range Breakout — toggle the ORB breakout setup type
Setup C · Meridian Bounce — toggle the session equilibrium bounce setup type
Retest Tolerance (xATR) — maximum ATR distance from the reference level that still qualifies as a retest (default: 0.35)
Min Confluence Layers (of 7) — minimum score to fire a signal (default: 5)
Show Entry Signals — toggle signal triangles
Show Confluence Label — toggle the live B/S score label near the session box
Signal Cooldown (bars) — minimum bars between consecutive signals (default: 6)
Filters
HTF Trend Filter — toggle the higher timeframe EMA alignment requirement
HTF Timeframe — the higher timeframe for EMA data (default: 60-minute)
HTF Fast / Slow EMA — EMA periods on the HTF (defaults: 21 / 55)
Volume Confirm — when on, entry volume must exceed the average by the minimum multiplier
Min Volume vs Avg — minimum volume ratio (default: 1.1)
Volume Avg Length — SMA length for volume baseline (default: 20)
Trade London Session — when on, signals can fire during London hours
Trade NY Session — when on, signals can fire during NY hours
Trade Asian Session — when on, signals can fire during Asian hours (default: off — Asian sessions typically produce lower-quality setups)
Exit Guidance
ATR Length — ATR calculation lookback (default: 14)
Show SL / TP Guides — toggle stop and target dotted circle plots
SL Distance (xATR) — ATR buffer added beyond the session-anchored stop reference (default: 1.0)
TP Reward (R) — take profit as a multiple of the actual risk from entry to stop (default: 2.5)
Display
Show Current Session Box — toggle the session range box
Show Prior Session H/L — toggle prior session high, low, and meridian dashed lines
Show Session VWAP — toggle the session VWAP line
Show Opening Range Box — toggle the ORB orange box
Show Dashboard — toggle the full dashboard panel
Dashboard Position — Top Left / Top Right / Bottom Left / Bottom Right
Colors
Bull / Bull Bright — yellow-green family for all bullish signals and London session elements
Bear / Bear Bright — red family for all bearish signals and NY session elements
Opening Range — orange for ORB box and status indicators
Meridian / EQ — purple for session meridian, prior session meridian, and equilibrium elements
Session VWAP — cyan for the session VWAP line
SL Guide / TP Guide — stop and target circle colors
Dash Text / Dash BG / Dash Header / Dash Section / Dash Frame — full dashboard color control
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🔔 Alert Conditions (6 total)
Entry Alerts
Meridian Long — all conditions confirmed. Long signal fired
Meridian Short — all conditions confirmed. Short signal fired
Structure Alerts
Meridian Break Prior High — price has closed above the prior session high. Setup A long retest window is now active — watch for the retest
Meridian Break Prior Low — price has closed below the prior session low. Setup A short retest window is now active
Opening Range Alerts
Meridian ORB Long — opening range broken to the upside with all setup and confluence conditions confirmed
Meridian ORB Short — opening range broken to the downside with all conditions confirmed
All alert messages are formatted as const strings for clean webhook and notification platform integration.
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🎯 Recommended Settings by Instrument & Timeframe
The default configuration is optimized for XAUUSD, major forex pairs, and indices on M5–M15 in UTC timezone:
Session hours in UTC — gold and forex are most active during London (08:00–13:00) and NY (13:00–21:00) hours. Asian session trading is disabled by default for clean intraday setups
ORB at 30 minutes — the classic institutional opening range. The first 30 minutes of London and NY frequently establish the session's directional commitment
Retest tolerance at 0.35× ATR — sensitive enough to catch genuine retests on M5–M15 without requiring price to tick exactly at the level
TP Reward at 2.5R — session-based setups on gold and forex typically produce moves sufficient to achieve 2.5R when the session bias is correctly identified
For other instruments or timeframes, adjust:
M1–M3 scalping — reduce Cooldown to 3, reduce SL Buffer to 0.5, reduce TP Reward to 1.5–2.0, use tighter Retest Tolerance at 0.2
H1 intraday swing — increase ORB to 60 minutes (capturing the first full H1 candle), increase Retest Tolerance to 0.5, increase TP Reward to 3.5–4.0, set HTF to H4 or Daily
Crypto (BTC, ETH) — use UTC timezone, enable all three sessions (crypto trades 24/7), reduce retest tolerance to 0.25 for the narrower wicks typical of crypto support/resistance retests
Indices (NAS100, US30) — focus exclusively on NY session (13:30–20:00 UTC for US equity cash session), disable London trading for equity index instruments, tighten ORB to 15 minutes (the US equity opening range is frequently set in the first 15 minutes)
More signals — lower Min Confluence to 4, enable Asian trading, disable volume filter
Highest-quality only — raise Min Confluence to 6–7, enable only Setup A and B (disable meridian bounce), require London and NY only
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👥 Who This Is For
⏱ Session traders and market structure players — MERIDIAN is the definitive session intelligence system. Every reference level, every bias indicator, and every signal type is anchored to the session clock
🥇 Gold (XAUUSD) and forex intraday traders — the three-session framework is most powerful on instruments where London and New York session transitions drive the most significant intraday moves. Default settings are calibrated for gold and major forex pairs
📊 Opening range traders — the ORB system provides a complete, rules-based opening range breakout framework with confluence scoring, volume confirmation, and rejection candle quality filtering
🎯 Break-and-retest traders — Setup A is the quantitative implementation of the prior session break and retest — the most reliable institutional intraday pattern across all liquid markets
🧠 Traders who use VWAP as a primary reference — the session-anchored VWAP and the VWAP-based bias scoring system make MERIDIAN the ideal companion for any VWAP-centric trading approach
📈 Traders who want session context on every trade — every signal label, every dashboard row, and every reference level in MERIDIAN tells you exactly where you are in the session cycle and what the institutional context is
⚠ Traders who struggle with time-of-day discipline — the session trading gates (enable/disable individual sessions) enforce time-of-day discipline automatically. If you do not trade the Asian session, disable it and no Asian signals will ever appear
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📝 Notes
All signals are confirmed on bar close — the indicator is non-repainting by design. Session state, VWAP, meridian, ORB values, and confluence scoring all finalize on confirmed bars only
The session boxes and prior session lines are redrawn on the last bar only for chart performance. On very fast timeframes with long chart history, this redraw happens on every new bar's render — this is normal behavior for last-bar-only visual updates
The VWAP is a true session-anchored VWAP — it resets at each session's first bar and accumulates correctly through the entire session. It is not a daily VWAP or a rolling VWAP
The prior session data updates at session transitions. On the very first session after the chart loads, no prior session data may be available — the Prior Hi / Lo dashboard rows will show — until the first session completes
The 30-bar retest window for Setup A (prior session break and retest) starts from the bar of the break. If no retest occurs within 30 bars, the pending retest state expires. On slower timeframes (H1), 30 bars may cover many hours — consider reducing the window or accepting that H1 retests sometimes take longer to develop
Maximum 500 labels, 500 lines, and 50 boxes are rendered. With three sessions each potentially drawing boxes and lines, the limit is practically sufficient for standard chart history. On very long chart histories on very fast timeframes, the oldest visual elements may be removed by PulseWire's rendering limits
The session timezone setting must match the timezone in which you want session boundaries defined. UTC is the default and recommended for instruments that trade globally. For US equity index traders, America/New_York may be more intuitive
The indicator does not connect to any broker or account — the dashboard and signals are purely analytical
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⚠ Disclaimer
This indicator is a technical analysis and visualization tool intended for educational and informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any financial instrument. All signals are generated from historical and real-time price data using mathematical calculations — their accuracy or profitability is not guaranteed. Past performance of any signal type does not guarantee future results. Always conduct your own analysis, use proper risk management, and consult a licensed financial advisor before making any trading decisions. The author accepts no responsibility for any losses incurred from the use of this indicator.
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Built for traders who understand that the market tells a different story in every session — and who want a system that reads each chapter in real time. Indicator
Nexus Global 15m ORBIntroduction
The Nexus Global 15m ORB indicator is a comprehensive opening range tool designed to map the initial 15-minute price action across the three major global trading sessions: Tokyo, London, and New York. Beyond simply marking the high and low of the opening range, this script integrates Fibonacci-based Optimal Trade Entry (OTE) zones, mathematical trend extensions, and Higher Timeframe (HTF) structural confluence to help traders identify high-probability reversal and continuation zones.
Core Concepts & What It Does
Opening Range Breakout (ORB) strategies rely on the volatility generated at the start of a trading session. The first 15 minutes often establish a support and resistance framework for the hours that follow. This indicator automatically detects these 15-minute windows and projects the range forward until the next session begins.
However, a standard ORB is often not enough to build a complete trading plan. To address this, the indicator incorporates:
- Internal Fibonacci Levels & OTE Zone: Calculates key retracement levels (38.2% and 50%) and highlights a specific Optimal Trade Entry (OTE) box between the 61.8% and 78.6% levels of the session's range.
- Session Trend Extensions: Projects standard Fibonacci extensions (0.618, 1.272, and 1.618) outward from the ORB high and low to serve as dynamic take-profit targets or exhaustion levels.
- HTF Institutional Pivots: Pulls structural swing highs and lows from a user-defined higher timeframe (e.g., 4-hour) and calculates its own macro Fibonacci levels. When these macro levels intersect with the micro 15m ORB range, the indicator highlights them as "Institutional Pivots."
How It Calculates (Underlying Logic)
- Session Tracking: Uses time() functions to detect the exact 15-minute timeframe of the Tokyo (0845-0900 JST), London (0800-0815 GMT), and New York (0930-0945 EST) opens. It dynamically tracks the high and low during this window and locks the values once the window closes.
- Internal Mathematics: The range size (rng) is calculated as ORB High - ORB Low. Internal levels are found by subtracting percentages of the range from the ORB High (e.g., ORB High - (rng * 0.5) for the 50% level).
- HTF Confluence: Utilizes request.security() alongside ta.highest() and ta.lowest() over a customizable lookback period to establish the macro structural range. It then checks if the macro 38.2%, 50%, or 61.8% levels fall sequentially inside the current active ORB boundaries, plotting them distinctly when true.
- Performance Optimization: To ensure the indicator does not cause chart lag (a common issue with heavy line/box drawing scripts), the drawing engine is restricted to update visual arrays strictly on barstate.islast, ensuring lightning-fast load times even on the 1-minute chart.*
How to Use It
- Breakout & Retest: Watch for price to break the ORB High or Low, and then wait for a retracement back to the 38.2% or 50% internal levels to join the trend toward the 1.272 or 1.618 extensions.
- OTE Reversals: If a false breakout (fake-out) occurs, look for price to return to the highlighted OTE Zone (61.8% - 78.6%). This zone often acts as a strong area of defense for institutional order flow, providing excellent risk-to-reward entries back toward the opposite side of the ORB.
- Institutional Pivots: When an HTF line populates inside the session range, treat it as a heavy magnet or resistance. Trades taken in confluence with these pivots carry a much higher structural weighting.
Originality & Usefulness
While there are many ORB tools on PulseWire, the vast majority only display horizontal lines for the high and low. This script is highly original because it combines micro-session timing with macro-structural Fibonacci confluence. By mashing up session tracking with HTF swing analysis and deep optimization drawing methods, it provides a complete, lag-free institutional framework in a single indicator, saving traders from needing multiple overlapping scripts to achieve the same result. Indicator
Indicator
Big Daddy Max ORB StrategyBig Daddy Max ORB Strategy | Scam or Slam Series
This script is part of my Scam or Slam series, where I take popular trading concepts, code them into PulseWire strategies, and backtest them properly to see if the idea actually has an edge — or if it only looks good in hindsight.
This strategy is based around the classic Opening Range Breakout concept.
The script builds an opening range using the selected ORB window, then looks for two main trade types:
1. Continuation Entries
If price closes above the ORB high, the strategy can enter long.
If price closes below the ORB low, the strategy can enter short.
2. Reversal Entries
If price breaks out of the ORB but then closes back inside the range, the strategy can treat that as a failed breakout and enter in the opposite direction.
The strategy includes adjustable settings for:
• ORB session window
• Trading window
• Take profit RR
• Contract / quantity size
• Continuation entries on/off
• Reversal entries on/off
• Stop loss at ORB midpoint or opposite ORB side
• Close trades at session end
• Entry, stop loss, and take profit visuals
• Risk/reward boxes
• ORB high, low, and midpoint levels
The script now works across all chart timeframes. Lower timeframes will give a more precise ORB, while higher timeframes will naturally be less detailed because they use fewer candles to build the range.
This is designed for backtesting and educational purposes only. The goal is not to claim that the strategy is profitable out of the box, but to test the logic properly and see whether the concept is a Scam or a Slam.
As always, this is not financial advice. Do your own research, test everything yourself, and never risk money you cannot afford to lose.
Strategy
ORB High/Low + Fibonacci TargetsShort Description
A Opening Range Breakout indicator that plots today’s ORB high/low, Fibonacci-based ORB targets.
Full PulseWire Description
ORB High/Low + Fibonacci Targets is a simple intraday Opening Range Breakout indicator designed for traders who use the first few minutes of the session to define market bias, breakout levels, and measured-move targets.
The indicator calculates the opening range using a fixed 1-minute internal calculation for accuracy, then plots clean horizontal levels for the current session’s ORB High and ORB Low. It also adds Fibonacci-based expansion targets above and below the range.
Key Features
Opening Range High and Low
Plots the session’s ORB High and ORB Low as horizontal lines.
Useful for identifying breakout, breakdown, and retest zones.
Multiple ORB Duration Options
Choose from:
1m
2m
3m
5m
15m
30m
1h
4h
Session Presets
NYSE RTH: 09:30–16:00
Futures RTH: 09:30–16:15
Futures ETH: 18:00–17:00
Custom session option
Fibonacci ORB Targets
T1 = 0.618 × ORB range
T2 = 1.0 × ORB range
T3 = 1.618 × ORB range
T4 = 2.618 × ORB range
Targets Above and Below ORB
Both bullish and bearish expansion levels are labeled as T1, T2, T3, and T4.
How To Use
A common ORB trading approach is:
Let the opening range complete.
Watch for price to break above ORB High or below ORB Low.
Use ORB High/Low as breakout and retest zones.
Use Fibonacci targets as potential profit-taking levels.
Example bullish setup:
Price breaks above ORB High.
Price holds ORB High on a retest.
Targets can be T1, T2, T3, and T4.
Example bearish setup:
Price breaks below ORB Low.
Price rejects ORB Low on a retest.
Downside targets can be T1, T2, T3, and T4.
Recommended Settings
For stocks and ETFs:
Session: NYSE RTH 09:30–16:00
ORB Duration: 5m or 15m
Show ORB Sessions: Today only
Show Fibonacci Targets: Enabled
For futures:
Session: Futures RTH or ETH depending on your strategy
ORB Duration: 5m, 15m, or 30m
Notes
This indicator is designed for intraday timeframes only. It automatically avoids plotting on daily or higher timeframes.
The opening range is calculated internally using 1-minute data for better precision across intraday charts.
Disclaimer
This indicator is for educational and informational purposes only. It does not provide financial advice, buy/sell recommendations, or guaranteed trading signals. Always use proper risk management and combine this tool with your own trading plan. Markets can move fast — especially around the open — so trade responsibly. Indicator
Ultimate Opening Range Breakout [LuxAlgo]The Ultimate Opening Range Breakout indicator is a comprehensive toolkit designed to identify, visualize, and analyze price movements following the initial market session. It empowers traders to define a specific opening range and monitor subsequent breakouts with integrated volume analysis, automated trailing stops, and a performance-tracking dashboard.
🔶 USAGE
The indicator identifies the high and low prices of a user-defined session (e.g., the first 30 minutes of the New York open) and projects potential expansion targets based on that range. Traders can use these levels to identify breakout opportunities and set realistic price targets.
🔹 Breakout Signals & Volume
When price crosses above the range high or below the range low, the script generates "BULL BREAK" or "BEAR BREAK" labels. These signals include a volume context suffix:
(HV) : High Volume breakout, where current volume exceeds the 20-period average. (LV) : Low Volume breakout, suggesting a potential lack of conviction behind the move.
🔹 Trailing Stop & Optimization
A dynamic ATR-based trailing stop can be enabled to manage open positions. To help refine your strategy, the built-in Stop Optimizer runs simultaneous simulations of five different ATR multipliers in the background. It identifies which multiplier would have yielded the highest cumulative profit based on historical session data.
🔹 Hit Rate Dashboard
The indicator includes a real-time statistical table that tracks the "Hit Rate" of each expansion target. This allows you to see at a glance what percentage of sessions successfully reached Target 1, 2, or 3, helping you gauge the probability of price reaching specific levels on any given day.
🔶 DETAILS
🔹 Opening Range Volume Profile (ORVP)
Unlike standard range indicators, this tool includes an intra-range Volume Profile. It calculates the distribution of volume within the opening range itself, highlighting the Point of Control (POC). This helps traders identify where the most significant positioning occurred before the breakout.
🔹 Adaptive Scaling
The Volume Profile utilizes an asset-adaptive scaling mechanism. By using the Average True Range (ATR) to determine "price buckets," the profile remains visually consistent whether you are trading high-priced indices or low-priced penny stocks.
🔶 SETTINGS
🔹 Session Settings
Opening Range Session : Define the time window for the range (e.g., 0930-1000). Timezone : Adjust the session time to match your local or exchange timezone.
🔹 Calculation Settings
Range Source : Choose between using the High/Low or the candle Close to define the range. Extension Type : Switch between standard Multiples or Fibonacci levels (0.382, 0.618, 1.0).
🔹 Volume Profile
Number of Rows : Adjusts the vertical granularity of the profile. Profile Width : Controls how far the profile extends horizontally from the range.
🔹 Trailing Stop & Optimizer
ATR Multiplier : The sensitivity of the active trailing stop. Show Stop Optimizer : Enables the background simulation to find the most profitable multiplier.
🔹 Plotting Duration
End Plotting At : Choose to stop drawing levels at specific market closes (NY, London, or Manual) to keep the chart clean after trading hours. Indicator
8:00-8:15 ORB Retest on 5m Time Frame v1.3 by Alf_AlgoORB Retest on 5m Time Frame
Breakout → Retest → Confirm → Enter
A structured session indicator designed to trade continuation after an opening range breakout using midpoint retests and confirmation.
Opening Range defines session structure
Breakout sets directional bias (with multiple detection modes)
Midpoint retest provides entry location
Momentum confirmation triggers signals
Triple ATR-based TP levels and structure-based SL manage risk
The system avoids chasing breakouts and instead waits for price acceptance and momentum confirmation.
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Timeframe
Pine Script®
Designed exclusively for the 5-minute chart.
The opening range is built using the first three 5-minute candles.
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Opening Range Levels
OR High — upper boundary (teal)
OR Low — lower boundary (red)
OR Midpoint — primary retest level (amber, dashed)
Shaded zone between High and Low for visual clarity
The midpoint acts as the primary retest level for entries.
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Breakout Direction Mode (New in v1.2)
Four modes to determine how directional bias is set after the opening range:
First Break — original behavior; whichever direction breaks out first locks the bias
Last Break — bias updates with each new breakout before the entry window opens, capturing the final sentiment
Strongest Break — the breakout with the largest candle body wins; more conviction = more significant
Directional Preference — manually select Bullish or Bearish; bias is set when the OR locks regardless of price action
For Last Break and Strongest Break modes, triangle markers appear on the chart each time the bias flips, so you can visually track the tug-of-war between bulls and bears before the entry window.
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Bias Logic
Close above OR High → Bullish Bias
Close below OR Low → Bearish Bias
Depending on the selected Breakout Direction Mode, the bias may lock on the first break, update with subsequent breaks, follow the strongest candle body, or be manually chosen.
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Entry Logic
Wait for midpoint retest
Require confirmation
Signal triggers within the active session window
Three confirmation modes are available:
Retest Close Reclaim
Break Retest Candle
Hybrid (default)
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Risk Management — Triple TP System (New in v1.2)
Three take-profit levels are automatically calculated using ATR, all shown on the chart from the moment a signal fires:
TP1 — 2× ATR (default) — solid line
TP2 — 3× ATR (default) — dashed line
TP3 — 5× ATR (default) — dotted line
SL — structure-based, remains fixed throughout the trade
Each TP and SL level gets a label when hit (TP1 ✓, TP2 ✓, TP3 ✓, SL ✗), so you can see exactly where targets were reached or where the stop was triggered. All ATR multipliers are fully adjustable in the settings.
Alert conditions are available for each individual TP hit and SL hit.
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Chart Elements
Opening Range High / Low / Mid with shaded zone
Breakout markers (triangles)
Retest markers (diamonds)
Buy / Sell signal labels
TP1 / TP2 / TP3 and SL levels with hit labels
On-chart dashboard with full state tracking
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Dashboard
The on-chart dashboard displays real-time state:
Session preset
Breakout Direction Mode
First break direction
Current bias
Retest status
Signal status
Confirmation mode
Individual TP1 / TP2 / TP3 and SL hit status
TP ATR multiplier values
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Typical Workflow
Apply on a 5-minute chart
Select your session and breakout direction mode
Allow opening range to form
Observe breakout(s) and bias assignment
Wait for midpoint retest
Enter after confirmation
Monitor TP1 → TP2 → TP3 progression
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v1.2 Release Notes
Added Breakout Direction Mode with four options: First Break, Last Break, Strongest Break, Directional Preference
Added triple take-profit system (TP1, TP2, TP3) with independent ATR multipliers
TP and SL hit labels appear on chart when each level is reached
Added alert conditions for each TP hit and SL hit
Styled OR lines with updated color palette (teal / red / amber)
Added shaded zone between OR High and Low
Updated dashboard with Breakout Direction Mode, individual TP status, and ATR multiplier display
v1.1 Release Notes
Added ORB session selection (New York, London, Asia)
Replaced breakout text labels with directional triangle icons
Replaced retest text labels with diamond icons
Added on-chart dashboard
Dashboard now shows directional state instead of checkmarks
Added Buy / Sell signal display in dashboard
Added color-coded dashboard values (green bullish, red bearish)
Updated Buy/Sell signal label colors
Added TP / SL outcome tracking in dashboard
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Feedback
This script is shared publicly to help traders study structured opening range continuation setups.
Feedback and suggestions are welcome
Ideas for improvements or additional features are appreciated
Indicator
Opening Range Break (5-15-30 Min) - Wall Street RedneckOpening Range Break (5-10-15-30 Min) – Wall Street Redneck
A simple and powerful Opening Range Breakout (ORB) indicator built for intraday traders.
This tool automatically plots the Opening Range High, Low, and optional Midline based on your selected 5, 10, 15, or 30 minute range. Once the range is set, levels extend forward to help identify breakout opportunities and key reaction zones throughout the session.
Features:
Custom ORB length (5/10/15/30 minutes)
Adjustable session start & end time
ORB High, Low & Midline (custom colors + dashed option)
Optional historical session display
Built-in customizable Take Profit levels
Targets based on % of Opening Range
Adaptive or Extended display
Automatic TP labeling
Designed for breakout, momentum, and day traders who want a clean, no-clutter ORB with flexible target projection. Indicator
Initial Value Breakout [OmegaTools]Initial Value Breakout (Ω IVB) is an intraday market structure indicator designed to identify, extend, and contextualize the Initial Value range formed during a user-defined opening session, with a default focus on the New York market open. The script is built for traders who want a structured and objective framework for reading early-session price discovery, tracking breakout direction, mapping expansion levels, and estimating adaptive continuation targets based on recent realized behavior. It is particularly effective on instruments where the opening phase provides meaningful information about participation, volatility, and directional intent, such as index futures, equities, and liquid intraday markets.
The core idea of the indicator is to capture the high and low established during a configurable opening window and treat that range as the session’s Initial Value structure. Once the session ends, the script projects this structure forward through a configurable validity period, allowing the trader to monitor how price interacts with the key boundaries for the rest of the day. In practice, this creates a clean reference framework that can be used to distinguish between balanced sessions, failed breakouts, and genuine range expansion environments.
During the selected opening session, the indicator continuously tracks the session high and session low while also collecting bar-by-bar mid-price data. This allows the script not only to define the upper and lower boundaries of the Initial Value range, but also to calculate a more stable internal reference level that reflects the opening distribution of price. Instead of relying on a simple midpoint between the session high and low, the script derives a center line using a hybrid central tendency approach that combines the average and median of opening-session mid-prices. This makes the central line more robust to isolated spikes and erratic early-session prints while still preserving responsiveness to the underlying structure.
After the Initial Value range is formed, the script monitors price action for breakout events and updates a directional bias when price crosses above the Initial Value high or below the Initial Value low. This bias acts as a structural state variable for the session and is used both as a visual context cue and as part of the adaptive target logic. In practical terms, the bias helps the trader distinguish whether the market is currently expressing upside or downside initiative relative to the opening range, which is often critical when evaluating continuation setups versus reversion opportunities.
In addition to the primary Initial Value high and low, the indicator can display deviation levels that project one full Initial Value range above and below the original boundaries. These expansion levels provide objective continuation references and are useful for identifying whether a breakout is developing into a true trend day or simply producing a short-lived excursion. Because the deviation levels are derived directly from the width of the opening range, they scale automatically with the session’s early volatility and remain instrument-agnostic in their construction.
A key advanced feature of Ω IVB is its adaptive target system. Rather than relying exclusively on fixed range multiples, the script estimates continuation targets using recent realized breakout extensions observed during prior sessions. When a session ends and the Initial Value structure is reset, the script records how far price extended beyond the Initial Value boundary in the direction of the active bias within the configured validity window. Upside extensions and downside extensions are tracked separately in rolling samples, allowing the indicator to maintain side-specific behavior profiles. The script then computes projected upside and downside targets by applying the average of these recent realized extensions to the current session’s Initial Value boundaries. This creates dynamic targets that adapt to the instrument’s recent intraday expansion characteristics and can be more informative than static multipliers in changing volatility regimes.
The indicator also includes an optional VWAP that resets from the beginning of the Initial Value session. This provides an additional institutional-style benchmark for evaluating price acceptance, trend quality, and rotational behavior relative to the opening structure. When enabled, the VWAP can be used alongside the Initial Value lines and breakout bias to refine trade selection, especially in cases where price breaks the range but fails to hold above or below both the range boundary and VWAP.
From a visual design perspective, the script is intentionally built around line objects and line fill objects to produce a clean and precise intraday chart presentation. The Initial Value high and low are displayed as horizontal reference lines, while the optional center line, deviation levels, and adaptive targets can be layered on demand depending on the user’s preferred level of detail. Optional filled zones can be enabled to visually emphasize the Initial Value area and the deviation bands, making it easier to read structure at a glance without overcrowding the chart. Bullish and bearish colors are fully customizable so the indicator can be integrated into different chart themes and workflow preferences.
The session and validity inputs allow the script to be tailored to different instruments and trading styles while preserving the same logic. The session input defines the exact time window used to construct the Initial Value range in New York time, and the validity input determines how long the levels remain active and how far the script looks when measuring realized post-breakout extensions for the adaptive target model. This makes the tool flexible enough for traders who focus on the cash open, the first hour, or custom opening structures, while still maintaining a consistent statistical framework.
Ω IVB is well suited for traders who use opening range logic, session structure analysis, breakout continuation models, and rule-based intraday execution. It can be used to frame directional bias, identify acceptance or rejection around key opening references, plan profit-taking zones, and distinguish between balanced and expanding sessions. It becomes particularly powerful when combined with order flow analysis, volume studies, market internals, or discretionary tape reading, because it provides a stable structural map around which more granular execution decisions can be made.
As with any analytical tool, the indicator is intended to support decision-making rather than replace a complete trading process. It should be used within a broader framework that includes risk management, position sizing, and execution discipline. When used correctly, Initial Value Breakout provides a professional and systematic way to interpret the opening phase of the market and translate that information into actionable intraday structure.
By Eros, OmegaTools Indicator
Indicator
Strategy
5m ORB with Dynamic Position Size and TargetThis script is based off of the 5 minute high and low (opening range) of the NY session, specifically developed for ES/MES. It marks the high and low of the first five minutes of trading, as well as marks profit targets if price breaks out high or low.
In settings you can configure the maximum capital to risk, high volatility target and regular volatility, and the ORB size in points that indicates if it is a high or normal volatility regime. I use a maximum risk of $500, normal volatility target of 1.5 RR, and a high volatility target of 1.0 RR. The maximum ORB range that I assume is normal volatility is 20 points, so below 20 points it targets 1.5 RR, above it targets 1.0 RR.
For illustrative purposes, I will outline my current strategy below. This is not financial advice, obviously.
When price breaks out of the 5 minute opening range, I enter in the direction of the move (break out of the high, I enter long; break down from low, I enter short). Stop loss is set at one tick outside of the opposite end of the range. I currently exit the full position at the target price, but will be playing around with leaving a runner for trend days.
Again, not financial advice. Be sure to paper trade before committing any real funds. Indicator
Opening Range {basic}Introduction
Opening range {basic} is a clean and reliable indicator designed to help traders visualize the opening range of a trading session with minimal setup and visual clutter.
This version focuses on the core components of opening range analysis, making it ideal for traders who want a simple, effective framework for identifying early-session structure across futures, forex and crypto markets.
Description
The indicator automatically calculates the opening range high, low and midpoint over a user-defined opening window (5m, 15m, 30m or 60m) within a selected trading session (default: NY session).
During the opening range window, the indicator dynamically tracks price to form the range. Once the opening range is complete, the high, low and midpoint are extended forward for the remainder of the session, providing clear reference levels that can be used for bias, mean reversion or breakout-based decision making.
A shaded fill highlights the opening range area, with an optional size display showing the total range in price units. Styling and logic are intentionally simplified to keep the chart clean and easy to interpret.
Features
Configurable opening range length
Choose between 5m, 15m, 30m or 60m opening ranges.
Session-based calculation
Opening range is calculated only within the selected trading session.
Opening range levels
Opening range high, low and midpoint.
Range fill & size display
Shaded fill between the opening range high and low.
Text showing total opening range size.
Clean, minimal design
Fixed line styles and thickness for clarity.
Dark and light theme support.
Minimal settings for fast, intuitive use.
Optimized performance
Designed for intraday timeframes compatible with the selected opening range length.
Terms & Conditions
This indicator is provided for educational and informational purposes only and does not constitute financial advice.
Trading involves risk and past performance is not indicative of future results.
The user assumes full responsibility for any trading decisions made using this indicator.
Indicator
NeuraEdge ORB - Opening Range Breakout IndicatorOVERVIEW
NeuraEdge ORB is an open-source Opening Range Breakout indicator that automates the classic 15-minute ORB strategy. The indicator tracks the first 15 minutes of market action (9:30-9:45 AM ET), identifies breakouts above or below this range, and generates trading signals with automated stop loss and take profit calculations.
The Opening Range Breakout concept is based on the observation that the initial price action after market open often establishes directional bias for the trading session, as institutional order flow and overnight gap reactions manifest during this window.
CORE METHODOLOGY
Opening Range Construction:
The indicator uses session-based time detection to identify the 9:30-9:45 AM Eastern Time window. During this period, it tracks the highest high and lowest low to establish the opening range boundaries. The range is marked complete when the 15-minute window closes.
Calculation process:
OR High = Maximum high value during the 15-minute window
OR Low = Minimum low value during the 15-minute window
OR Midpoint = (OR High + OR Low) / 2
Range Size = OR High - OR Low (compared to 14-period ATR for context)
Breakout Detection:
The indicator identifies breakouts using close-price confirmation to reduce false signals from wicks:
Bullish breakout: Close above OR High (with previous close at or below OR High)
Bearish breakout: Close below OR Low (with previous close at or above OR Low)
The indicator tracks whether each direction has already broken to prevent duplicate signals on the same range.
Entry Type Logic:
Two entry methodologies are supported:
Breakout Mode - Signals immediately upon range break. Enters on the breakout bar when close confirms direction.
Retest Mode - Waits for price to break the range, then pullback to touch the range level before entering. Cancels if price moves too far beyond midpoint. This provides better entry prices with tighter stop losses.
Volume Confirmation:
Optional volume filter compares current bar volume to 20-period simple moving average. Requires volume > 1.2x average to validate breakout strength and filter low-conviction moves.
Fair Value Gap (FVG) Integration:
Optional confluence filter that checks for unfilled FVG in the breakout direction:
Bullish FVG detected when: current bar's low > two bars ago high (creating gap)
Bearish FVG detected when: current bar's high < two bars ago low (creating gap)
Minimum FVG size: 0.3x ATR to filter noise
FVG considered filled when price retraces to gap midpoint
Signals only generate when an unfilled FVG exists in the breakout direction, adding institutional order flow confluence.
Risk Management Calculations:
Three stop loss placement methods:
Opposite Side - SL at opposite end of opening range (classic ORB approach)
Midpoint - SL at range midpoint (tighter risk, lower reward potential)
ATR Based - SL at 1.5x ATR from entry (adaptive to volatility)
Take profit calculated as: Entry ± (Entry - Stop Loss) × Risk:Reward Ratio
Default 1.5:1 R:R ratio, adjustable from 1.0 to 5.0.
Performance Tracking:
The indicator maintains a trade history using Pine Script's type system:
Records entry price, stop loss, take profit, and direction for each signal
Tracks outcome when price hits stop loss or take profit levels
Auto-closes after 80 bars if neither level hit
Calculates rolling win rate from last 50 trades maximum
Displays W/L record in real-time dashboard
VISUAL COMPONENTS
Opening Range Box:
Semi-transparent blue box drawn from range start bar to current bar + 20, showing the established range boundaries visually.
Range Levels:
Green line at OR High (potential long entry level)
Red line at OR Low (potential short entry level)
Gray dotted line at OR Midpoint (reference level)
All lines extend 50 bars forward for anticipation.
Trade Signals:
Green up arrow with "LONG ORB Break" label below price
Red down arrow with "SHORT ORB Break" label above price
Dashed lines showing SL and TP levels extending 30 bars
Small labels marking SL and TP endpoints
Real-Time Dashboard:
Top-right panel displaying:
OR formation status (Forming / Complete / Waiting)
Current OR High, Low, and Range size (with ATR multiple)
Breakout status (Long / Short / None)
Volume status (High / Normal)
FVG presence (Bull / Bear / None)
Entry settings (Breakout/Retest, R:R, SL type)
Win rate percentage and W/L record
PRACTICAL APPLICATION
Ideal Market Conditions:
Liquid instruments: SPY, QQQ, IWM, high-volume stocks
Recommended timeframes: 1-minute or 5-minute charts for precise entries
Most effective during trending days with clear directional bias
Range size between 0.5-1.5x ATR typically provides best risk:reward
Usage Workflow:
Apply indicator at market open (9:30 AM ET)
Observe range formation during first 15 minutes
Wait for "Complete" status in dashboard
Monitor for breakout signals with volume/FVG confirmation
Enter on signal, place stop loss and take profit as marked
Avoid taking opposing signals on same day (trend following approach)
Retest vs Breakout Selection:
Use Breakout mode on high-momentum days with strong overnight gaps
Use Retest mode on slower days or when seeking better entry prices
Retest mode reduces signal frequency but improves entry quality
Time-of-Day Considerations:
The indicator includes a trading cutoff setting (default 3:00 PM ET) to avoid late-day chop and reduced liquidity. First-hour breakouts (10:00-11:00 AM) historically show strongest follow-through.
SETTINGS & CUSTOMIZATION
Display Options:
Toggle signals, opening range box, and dashboard independently
Clean visual design to reduce chart clutter
Opening Range Settings:
Opening range duration (5-60 minutes in 5-minute increments)
Default 15 minutes aligns with classic ORB methodology
Trading cutoff hour (10-16, representing 10:00 AM - 4:00 PM ET)
Entry Configuration:
Entry type (Breakout / Retest)
Volume confirmation toggle (requires 1.2x average volume)
FVG confluence toggle (requires unfilled gap in breakout direction)
Risk Management:
Stop loss placement (Opposite Side / Midpoint / ATR Based)
Risk:reward ratio (1.0 - 5.0, default 1.5)
Future: Trail stop after partial TP (currently placeholder)
Alert System:
Five alert conditions available:
Opening Range Complete
ORB Long Signal
ORB Short Signal
Breakout Up (range broken, regardless of signal)
Breakout Down (range broken, regardless of signal)
BEST PRACTICES
Recommended Usage:
Focus on highly liquid instruments with tight spreads
Use 1-5 minute charts for entry precision
Respect calculated stop losses (range defines maximum risk)
Typically 1-2 quality setups per day maximum
Consider overall market trend (SPY/QQQ direction)
Risk Considerations:
Very small ranges (< 0.3x ATR) prone to false breakouts
Very large ranges (> 2x ATR) may indicate gap day requiring adjusted expectations
Low volume breakouts fail more frequently
Avoid trading both directions on same day (pick strongest setup)
IMPORTANT DISCLOSURES
This indicator is provided free and open-source for educational purposes. The Opening Range Breakout strategy is a well-documented public domain trading concept. This implementation adds automation, visual clarity, and optional confluence filters.
No indicator guarantees profitable trades. Past performance does not predict future results. Traders are responsible for their own trading decisions and risk management. Always use appropriate position sizing and never risk more than you can afford to lose. Indicator
