NQ Opening Range Breakout

Opening Range Breakout script with:

Customizable opening range timeframe selection.

Inputs for Risk to Reward ratio, EMAs, Vwap, and ATR sizing to avoid ranges that are too big or too small.

Features a toggle for reversal trades that when enabled will trade the other direction if the initial ORB gets stopped out.

Default it will use the entire opening range to determine stop loss and take profit and if neither the take profit or stop loss is hit it will end the trade at 16:00. There are toggles to use half the opening range as the stop loss and take profit will then be calculated as risk reward ratio * stop loss or you can select entry candle stop loss and risk reward ratio which places the stop loss at the entry candles opening price. There is also a take profit option that will only exit the trade when price closes below (for longs) or above (for shorts) a customizable ema length.

Note that if you have the opening range, for example, selected as 9:30 - 9:45 and are on a 5 minute chart it will enter on the first 5 min closure outside of that range and if you are on a 15 minute chart it will enter on the first 15 min closure outside of that range and so on.

You can automate the entries and exits by using a webhook service and using the strategy’s alerts.