PROTECTED SOURCE SCRIPT

ORB NY Sesión (Visual R:R) - Final

14
This script is a Visual Indicator (Not a Backtesting Tool) designed to identify and plot the New York Open Range Breakout (NY ORB) and project clear risk/reward (R:R) levels immediately following a high-probability breakout event.

🔑 Core Functionality
Strict Session Filtering: The indicator logic and signals are only activated during standard trading days (Monday to Friday), ignoring weekends completely.

Opening Range Identification: It calculates the high and low price within the user-defined session time (default: 09:30 - 10:00 NY). This range is visually marked by black circular dots.

Signal Detection: A buy signal (BUY, Blue color) or sell signal (SELL, Red color) is generated on the first bar that crosses and closes beyond the range high (orbHigh) or range low (orbLow).

📐 Visual Risk Management
Once a signal is detected, the indicator projects the risk/reward levels using short lines that extend from the entry point to the current bar, clearly visualizing the trade plan:

Entry Line (Gray): Drawn at the closing price of the breakout bar.

Stop Loss (SL - Red): Fixed at the opposite boundary of the Opening Range (ORB Low for long trades, ORB High for short trades), which defines the risk (1R).

Take Profit (TP - Blue): Dynamically calculated based on the user-configured Risk/Reward Ratio (R:R) (default is 2.0).

Labels: Displays the exact Entry, SL, and TP prices.

📊 Aesthetics and Clarity
Clean Visuals: Level lines do not extend indefinitely (extend.none), ensuring a clutter-free chart.

Floating Title: A small table in the top-left corner displays the indicator title, active session time, and the configured R:R for quick reference.

This indicator is built for traders to practice breakout strategies with immediate visual confirmation of the calculated risk management plan.

Thông báo miễn trừ trách nhiệm

Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.