OPEN-SOURCE SCRIPT
Time ORB [AlgoRich]
What does this script do?
This indicator is a Time-Based Open Range Breakout (ORB) tool. It monitors price action during a specific user-defined time window, identifies the high and low of that period, and then projects those levels forward as actionable breakout zones.
Key Features:
Calculation Modes: You can choose to calculate the range based on Wicks (high/low) or Candle Bodies (open/close) depending on your strategy's sensitivity.
Extension Limit:
To prevent chart clutter, the script includes an "Extension End Time." Once this time is reached, the levels and signals are disabled for the day.
Signal Logic:
Breakout Alerts: It triggers "Buy" or "Sell" labels when a candle closes outside the established range.
Reversal (Second Entry): It has a built-in feature to catch a second breakout if the first move was a "fakeout" and the price reverses to the opposite side.
Timezone Management:
Includes a UTC offset input to ensure the range aligns perfectly with local market opening hours.
How to trade it:
Bullish Breakout: Look for long entries when price closes above the Top Line.
Bearish Breakout: Look for short entries when price closes below the Bottom Line.
Equilibrium: The center line acts as a "fair value" or a target/neutral zone.
This indicator is a Time-Based Open Range Breakout (ORB) tool. It monitors price action during a specific user-defined time window, identifies the high and low of that period, and then projects those levels forward as actionable breakout zones.
Key Features:
Calculation Modes: You can choose to calculate the range based on Wicks (high/low) or Candle Bodies (open/close) depending on your strategy's sensitivity.
Extension Limit:
To prevent chart clutter, the script includes an "Extension End Time." Once this time is reached, the levels and signals are disabled for the day.
Signal Logic:
Breakout Alerts: It triggers "Buy" or "Sell" labels when a candle closes outside the established range.
Reversal (Second Entry): It has a built-in feature to catch a second breakout if the first move was a "fakeout" and the price reverses to the opposite side.
Timezone Management:
Includes a UTC offset input to ensure the range aligns perfectly with local market opening hours.
How to trade it:
Bullish Breakout: Look for long entries when price closes above the Top Line.
Bearish Breakout: Look for short entries when price closes below the Bottom Line.
Equilibrium: The center line acts as a "fair value" or a target/neutral zone.
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。