Casper SMC: 5m ORB + Retest

Casper SMC: 5m ORB + Retest

This strategy is an Opening Range Breakout (ORB) system combined with Smart Money Concept (SMC) style wick-retest entries.
It is designed for 5-minute charts and trades only during the New York session.

The goal is to trade confirmed breakouts followed by a controlled pullback, using fixed risk and realistic P/L calculations.
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Core Logic

Capture the Opening Range High, Low, and Mid
Wait for a confirmed breakout above or below the range
Look for a wick retest back into the range
Enter only if the candle body stays outside the range
Use fixed RR with automatic TP & SL

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Session Rules

Opening Range (ORB): 09:30 – 09:35 New York time
Entries allowed only until the configured cutoff time
Maximum of one trade per day
If breakout fully reverses through the range, the session is cancelled

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Entry Conditions

Bullish Setup

Candle closes above ORB High
After breakout, a candle wicks back below ORB High
Candle body remains fully above ORB High
Wick depth must be within the user-defined percentage range

Bearish Setup

Candle closes below ORB Low
After breakout, a candle wicks back above ORB Low
Candle body remains fully below ORB Low
Wick depth must be within the user-defined percentage range

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Risk Management

Stop Loss: ORB Midpoint
Take Profit: Risk × RR Ratio
Fixed lot size for every trade
Automatic TP / SL handling

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Realistic P/L Calculation

Profit and loss values are calculated using lot size and contract size:

Pine Script®

This allows accurate estimation for:

Forex
Gold (XAUUSD)
Crypto
Indices

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Visual Features

ORB High / Low / Mid plotted on chart
Entry labels showing expected TP & SL in USD
Trade duration label displayed after exit
Session cancellation warnings

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Recommended Usage

Timeframe: 5 minutes
Best session: New York
Instruments: Forex, Gold, Indices, Crypto
Always forward-test before live trading

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Disclaimer

This script is for educational and research purposes only.
Past performance does not guarantee future results.
Always manage risk and test thoroughly before trading real capital.

版本注释

New Feature: The Volatility "Gatekeeper"
Based on community feedback, I have added an ATR Range Filter. This prevents the strategy from taking trades on low-volume, "choppy" days where the Opening Range is too small to be safe.

How it works: If the height of the Opening Range is smaller than ATR x Multiplier, the day is skipped.
Why use it: Small ranges often lead to "fakeouts" and stop hunts. This filter ensures you only trade when there is enough momentum to hit targets.

版本注释

some fixes

版本注释

🆕 Partial Take Profit System
- Enable Partial TP — When enabled, the strategy splits the exit into two stages instead of one full exit.
- TP1 (Partial Close) — Closes a configurable percentage of the position (e.g. 50%) at a configurable R level (e.g. 1.0R). Great for locking in profit early on volatile days.
- TP2 (Final Close) — The remaining position rides toward the full target (e.g. 2.0R or 2.5R).
- Correct P/L Accounting — All scenarios are handled correctly:

Pine Script®

🆕 Move SL to ORB After TP1
- Dependency enforced in code — This option is only active when Enable Partial TP is also enabled. If Partial TP is off, this setting is automatically ignored regardless of the checkbox state.
- How it works — After TP1 is hit, the Stop Loss of the remaining position is moved from orbMid to the ORB boundary:
-- Long trade → SL moves to orbHigh (price must drop back below the breakout level to stop out)
-- Short trade → SL moves to orbLow (price must rally back above the breakdown level to stop out)
- Why use it — Protects the remaining position after a partial win. Worst case after TP1 is a small loss instead of a full loss.

版本注释

Update: Confluence Filters & Momentum Gating

This update introduces a "disciplined" layer to the Casper ORB logic. We have added a new "Confluence Filters" settings group designed to filter out low-probability "noise" and prevent "chop suicide" during non-trending sessions.

New Features:

1. ADX Filter (Trend Strength)
The Average Directional Index (ADX) measures the strength of a trend regardless of direction.

* Logic: When enabled, entries are blocked if the ADX is below the threshold (Default: 25).
* Benefit: Keeps you out of the market when price is just "drifting" sideways.

2. 4H VWAP Filter (Institutional Bias)
Uses a 4-Hour Volume Weighted Average Price as a medium-term "gravity" line.

* Long Bias: Only permits Long entries when price is above the 4H VWAP.
* Short Bias: Only permits Short entries when price is below the 4H VWAP.
* Visuals: An orange line is plotted on the chart when this filter is active to show the current bias.

[h2]Technical Logic Applied[/h2]
We have introduced three new logic gates that must return true before an order is executed:

* adxPass — Validates that momentum is sufficient.
* vwapLong — Validates price is on the bullish side of the 4H volume average.
* vwapShort — Validates price is on the bearish side of the 4H volume average.

⚠️ Note on Settings:
To maintain consistency with your existing backtests, both filters are OFF by default. You can enable them individually under the new "Confluence Filters" group in the script settings.

Code changes: Expanded logic from 20 lines to 40 lines in the filtering block for casper-orb-dynamic.pine.

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