DAX 9-10 Breakout Strategy IndicatorOpening Hour Breakout (ORB) indicator for intraday trading.
WHAT IT DOES:
• Identifies the price range of a specific hour (default: 9:00-10:00)
• Detects breakout direction (Long/Short) when price breaks above HIGH or below LOW
• Automatically calculates Take Profit and Stop Loss zones based on range size
• Tracks trade outcome (Win/Lose) when TP or SL is hit
HOW TO USE:
1. Set the session hour according to your chart's timezone
2. Wait for the session range to form (yellow box)
3. Enter on breakout above HIGH (Long) or below LOW (Short)
4. TP and SL levels are automatically calculated
DEFAULT SETTINGS:
• TP Multiplier: 1.41x range (Risk:Reward ≈ 1:2.7)
• SL Multiplier: 0.52x range
FEATURES:
• Works on any timeframe (H1, M15, M30, etc.)
• Visual zones for session range, TP, and SL
• Price labels for all key levels
• Entry arrows and direction letters (L/S)
• Win/Lose markers (W/X) when trade closes
• Fully customizable - show/hide any element
• Info panel with live status and R:R ratio
• Alert conditions for Entry, TP hit, SL hit
BEST USED ON:
• DAX (Germany 40)
• Other indices: US30, US500, NAS100
• Forex majors during London/NY open
NOTE: This is an indicator for visual analysis. Use the Strategy version for backtesting.
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