ORB - Openning Range Breakout

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ORB - Opening Range Breakout (Indicator)

This indicator visualizes the Opening Range Breakout (ORB) for the New York market session (9:30 AM – 4:00 PM NY), highlighting the High and Low of the first 5 minutes of the session.

Key Features:

Automatically calculates the High and Low of the 9:30 AM candle and updates if subsequent candles expand the range within the first 5 minutes.

Plots invisible lines representing the High and Low of the opening range throughout the session.

Fills the area between High and Low with a semi-transparent background, clearly showing the opening range zone.

Works on any intraday timeframe and adapts automatically to the NY session.

Perfect for breakout strategies, visually marking early support and resistance zones.

How to Use:

The shaded area between High and Low indicates the opening range.

Traders can watch for breakouts above the High or breakdowns below the Low for potential entry signals.

Can be combined with trend or volume indicators for confirmation.

Notes:

The session is automatically calculated using New York time.

Background transparency can be adjusted to your preference.

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Phát hành các Ghi chú

Change display name

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Phát hành các Ghi chú

+Custom ORB visibility session
+Mid Line