Basic ORB [MOT]

Basic ORB [MOT] – Opening Range Breakout Tool
The Basic ORB [MOT] is a visual tool designed to assist intraday traders by identifying the opening range from 9:30–9:45 AM ET. It automatically plots the high, low, and midpoint of this range to help traders analyze potential areas of interest.

This script provides a simple and customizable way to frame market structure during the early trading session. It is intended to support various intraday strategies across multiple asset classes including futures, stocks, ETFs, indexes, and crypto.

🔹 Key Features
1. Opening Range Levels
- Automatically plots the High, Low, and Midline of the 9:30–9:45 AM ET session.
- Midline helps visualize the midpoint of the range.
- Customizable colors and line thickness.

2. Previous ORB Ranges
- Option to display previous days’ ORB levels for visual pattern recognition.
- Useful for spotting recurring reactions to prior day levels.

3. Dynamic Price Labels
- Adds price labels to each ORB line for quick reference.
- Fully customizable: adjust text size, background color, label position, and offset.

4. Clean Settings Panel
- Customize all visual elements to match your charting style.
- Control how many previous ORBs to display.
- Toggle features on or off for a simplified interface.

🧠 How to Use
- Best viewed on 1m, 5m, or 15m charts.
- Combine with your existing entry/exit criteria to monitor how price interacts with the opening range.
- Common use cases include breakout confirmation, rejection trades, and support/resistance analysis based on prior ORBs.

⚠️ Disclaimer
This script is for educational and informational purposes only. It does not constitute financial advice. Trading carries risk, and users should test any tools in a demo environment before live use. Always implement proper risk management.