Dajavue's Magic ORB Pro V2.5
Dajavue's Magic ORB Pro is an advanced Opening Range Breakout (ORB) indicator designed to help traders identify potential breakout opportunities, evaluate setup quality, and manage trades with clearly defined entry signals, stop-loss levels, and profit targets.
Originally developed with stock options trading in mind, Magic ORB Pro combines opening range analysis, price action, volume, VWAP, moving averages, and higher-timeframe trend analysis into one comprehensive trading tool.
The goal is simple: Identify the opportunity. Evaluate the setup. Manage the risk.
Rather than cluttering the chart with unnecessary information, Magic ORB Pro provides visual trade signals, customizable market levels, and an informative dashboard to support disciplined trading decisions.
Key Features
1. Customizable Opening Range Breakout (ORB)
Magic ORB Pro allows traders to select their preferred opening range duration:
5-Minute ORB
10-Minute ORB
15-Minute ORB
30-Minute ORB
Custom opening range settings
The indicator automatically identifies and plots the Opening Range High, Midpoint, and Low.
These levels help traders identify potential breakout zones, support and resistance, and areas where price may retest before continuing.
2. CALL & PUT Trading Signals
Magic ORB Pro generates easy-to-identify directional signals directly on the chart.
CALL Signals (Green): Identify potential bullish breakout or continuation opportunities.
PUT Signals (Red): Identify potential bearish breakout or continuation opportunities.
Signals are based on confirmed price-action conditions, including opening range breakouts and qualifying retests.
Signal labels are customizable for improved visibility and readability.
3. A+ to D Setup Grading System
Not every breakout has the same level of confirmation.
Magic ORB Pro includes a setup grading system that evaluates multiple market conditions to help traders assess the quality of potential opportunities.
The grading system considers:
Higher-timeframe trend alignment
VWAP positioning
EMA trend alignment
Relative volume
Breakout candle strength
Premarket market structure
Opening range volatility characteristics
Setup Grades:
A+ (90–100): Exceptional confirmation
A (80–89): Strong confirmation
B (70–79): Good confirmation
C (60–69): Limited confirmation
D (Below 60): Weak confirmation
Grades represent the degree of technical confirmation, not the probability of a profitable trade.
Traders can use grading as additional information or enable stricter filters based on their preferences.
4. Automated Trade Management
Magic ORB Pro provides visual trade-management levels to help traders plan potential entries and exits.
Features include:
Entry reference levels
Stop-loss levels
TP1, TP2, and TP3
Risk-to-reward-based profit targets
Automatic breakeven stop adjustment after TP1
Optional historical trade-level display
Default profit-taking model:
TP1: 1R — 33% of the position
TP2: 2R — 33% of the position
TP3: 3R — Remaining 34%
After TP1 is reached, the modeled stop for the remaining position moves to breakeven.
Profit target labels are displayed directly beside their corresponding chart levels for easy identification.
Trade management is modeled by the indicator and does not execute brokerage orders.
5. Multiple Stop-Loss Methods
Traders can choose between several stop-loss calculation methods:
Swing structure-based stops
Opening range boundary stops
ATR-based stops
These options allow traders to adapt their risk-management approach to different market conditions and trading styles.
6. Multi-Timeframe Market Bias Dashboard
The built-in dashboard provides an organized overview of important market conditions.
Dashboard information includes:
Overall market bias
ORB status and duration
Chart timeframe compatibility
Latest setup grade
Current modeled trade status
Higher-timeframe and EMA trend alignment
VWAP positioning
Relative volume
Session entries
Historical win/loss statistics
Win rate
Net R
Profit factor
Signal filter information
This dashboard helps traders evaluate multiple market conditions without constantly switching between timeframes.
7. Key Market Levels
Magic ORB Pro automatically plots important price levels, including:
Previous Day High (PDH)
Previous Day Low (PDL)
Premarket High (PMH)
Premarket Midpoint
Premarket Low (PML)
Opening Range High
Opening Range Midpoint
Opening Range Low
Level lines are session-separated for a cleaner chart appearance.
Each level includes an identifying label, with customizable label sizes.
8. Customizable Exponential Moving Averages
Magic ORB Pro includes three individually configurable EMAs.
Default EMA periods:
13 EMA
48 EMA
200 EMA
Traders can independently enable or disable each EMA, adjust its period, and customize its color.
EMA visibility settings allow traders to maintain a clean chart while preserving the indicator's underlying trend calculations.
9. Advanced Signal Filters
Optional filters allow traders to customize how selective the indicator should be.
Available filters include:
Relative volume confirmation
VWAP alignment
EMA trend alignment
Higher-timeframe confirmation
Minimum setup grade
Trading session restrictions
Breakout extension protection
Maximum modeled trades per session
These tools allow traders to adjust their preferred level of confirmation without removing the core ORB analysis.
10. Performance Statistics
Magic ORB Pro includes historical modeled-trade statistics to help traders evaluate how the configured trading rules have performed.
Available metrics include:
Total wins and losses
Breakeven trades
Win rate
Net R
Profit factor
Session entry count
Statistics are calculated from the indicator's simulated trade-management rules. They do not represent verified brokerage fills or actual options trading performance.
How to Use Magic ORB Pro
Step 1 — Select Your Opening Range
Choose the ORB duration that best matches your trading approach.
Step 2 — Identify Market Bias
Review the dashboard, VWAP, EMA structure, and important market levels.
Step 3 — Watch for CALL or PUT Signals
Wait for a confirmed opening range breakout or qualifying retest signal.
Step 4 — Evaluate the Setup Grade
Review the A+ to D grade and determine whether the technical conditions align with your trading plan.
Step 5 — Review Risk and Profit Targets
Use the displayed entry reference, stop-loss level, and TP1–TP3 levels to evaluate the potential trade.
Step 6 — Manage the Trade
Monitor price action and use your own execution and risk-management plan.
Supported Trading Applications
Magic ORB Pro was originally designed for traders analyzing stocks and ETFs for options trading opportunities.
It can also be explored on other charted instruments, although session definitions, volume characteristics, and price behavior may differ.
The indicator analyzes the underlying chart's price action. CALL and PUT signals indicate bullish or bearish directional setups; they do not select specific options contracts, strike prices, expirations, or premiums.
Important Notes
Signals are based on technical conditions and do not guarantee future price movement.
A higher setup grade does not guarantee a successful trade.
Performance statistics are simulated and may differ from live trading results.
Market volatility, slippage, spreads, and execution timing can materially affect trading outcomes.
Historical performance does not guarantee future results.
Users should independently validate the indicator and apply appropriate risk management.
Dajavue's Magic ORB Pro
Catch the Breakout. Grade the Setup. Manage the Trade.
Originally developed with stock options trading in mind, Magic ORB Pro combines opening range analysis, price action, volume, VWAP, moving averages, and higher-timeframe trend analysis into one comprehensive trading tool.
The goal is simple: Identify the opportunity. Evaluate the setup. Manage the risk.
Rather than cluttering the chart with unnecessary information, Magic ORB Pro provides visual trade signals, customizable market levels, and an informative dashboard to support disciplined trading decisions.
Key Features
1. Customizable Opening Range Breakout (ORB)
Magic ORB Pro allows traders to select their preferred opening range duration:
5-Minute ORB
10-Minute ORB
15-Minute ORB
30-Minute ORB
Custom opening range settings
The indicator automatically identifies and plots the Opening Range High, Midpoint, and Low.
These levels help traders identify potential breakout zones, support and resistance, and areas where price may retest before continuing.
2. CALL & PUT Trading Signals
Magic ORB Pro generates easy-to-identify directional signals directly on the chart.
CALL Signals (Green): Identify potential bullish breakout or continuation opportunities.
PUT Signals (Red): Identify potential bearish breakout or continuation opportunities.
Signals are based on confirmed price-action conditions, including opening range breakouts and qualifying retests.
Signal labels are customizable for improved visibility and readability.
3. A+ to D Setup Grading System
Not every breakout has the same level of confirmation.
Magic ORB Pro includes a setup grading system that evaluates multiple market conditions to help traders assess the quality of potential opportunities.
The grading system considers:
Higher-timeframe trend alignment
VWAP positioning
EMA trend alignment
Relative volume
Breakout candle strength
Premarket market structure
Opening range volatility characteristics
Setup Grades:
A+ (90–100): Exceptional confirmation
A (80–89): Strong confirmation
B (70–79): Good confirmation
C (60–69): Limited confirmation
D (Below 60): Weak confirmation
Grades represent the degree of technical confirmation, not the probability of a profitable trade.
Traders can use grading as additional information or enable stricter filters based on their preferences.
4. Automated Trade Management
Magic ORB Pro provides visual trade-management levels to help traders plan potential entries and exits.
Features include:
Entry reference levels
Stop-loss levels
TP1, TP2, and TP3
Risk-to-reward-based profit targets
Automatic breakeven stop adjustment after TP1
Optional historical trade-level display
Default profit-taking model:
TP1: 1R — 33% of the position
TP2: 2R — 33% of the position
TP3: 3R — Remaining 34%
After TP1 is reached, the modeled stop for the remaining position moves to breakeven.
Profit target labels are displayed directly beside their corresponding chart levels for easy identification.
Trade management is modeled by the indicator and does not execute brokerage orders.
5. Multiple Stop-Loss Methods
Traders can choose between several stop-loss calculation methods:
Swing structure-based stops
Opening range boundary stops
ATR-based stops
These options allow traders to adapt their risk-management approach to different market conditions and trading styles.
6. Multi-Timeframe Market Bias Dashboard
The built-in dashboard provides an organized overview of important market conditions.
Dashboard information includes:
Overall market bias
ORB status and duration
Chart timeframe compatibility
Latest setup grade
Current modeled trade status
Higher-timeframe and EMA trend alignment
VWAP positioning
Relative volume
Session entries
Historical win/loss statistics
Win rate
Net R
Profit factor
Signal filter information
This dashboard helps traders evaluate multiple market conditions without constantly switching between timeframes.
7. Key Market Levels
Magic ORB Pro automatically plots important price levels, including:
Previous Day High (PDH)
Previous Day Low (PDL)
Premarket High (PMH)
Premarket Midpoint
Premarket Low (PML)
Opening Range High
Opening Range Midpoint
Opening Range Low
Level lines are session-separated for a cleaner chart appearance.
Each level includes an identifying label, with customizable label sizes.
8. Customizable Exponential Moving Averages
Magic ORB Pro includes three individually configurable EMAs.
Default EMA periods:
13 EMA
48 EMA
200 EMA
Traders can independently enable or disable each EMA, adjust its period, and customize its color.
EMA visibility settings allow traders to maintain a clean chart while preserving the indicator's underlying trend calculations.
9. Advanced Signal Filters
Optional filters allow traders to customize how selective the indicator should be.
Available filters include:
Relative volume confirmation
VWAP alignment
EMA trend alignment
Higher-timeframe confirmation
Minimum setup grade
Trading session restrictions
Breakout extension protection
Maximum modeled trades per session
These tools allow traders to adjust their preferred level of confirmation without removing the core ORB analysis.
10. Performance Statistics
Magic ORB Pro includes historical modeled-trade statistics to help traders evaluate how the configured trading rules have performed.
Available metrics include:
Total wins and losses
Breakeven trades
Win rate
Net R
Profit factor
Session entry count
Statistics are calculated from the indicator's simulated trade-management rules. They do not represent verified brokerage fills or actual options trading performance.
How to Use Magic ORB Pro
Step 1 — Select Your Opening Range
Choose the ORB duration that best matches your trading approach.
Step 2 — Identify Market Bias
Review the dashboard, VWAP, EMA structure, and important market levels.
Step 3 — Watch for CALL or PUT Signals
Wait for a confirmed opening range breakout or qualifying retest signal.
Step 4 — Evaluate the Setup Grade
Review the A+ to D grade and determine whether the technical conditions align with your trading plan.
Step 5 — Review Risk and Profit Targets
Use the displayed entry reference, stop-loss level, and TP1–TP3 levels to evaluate the potential trade.
Step 6 — Manage the Trade
Monitor price action and use your own execution and risk-management plan.
Supported Trading Applications
Magic ORB Pro was originally designed for traders analyzing stocks and ETFs for options trading opportunities.
It can also be explored on other charted instruments, although session definitions, volume characteristics, and price behavior may differ.
The indicator analyzes the underlying chart's price action. CALL and PUT signals indicate bullish or bearish directional setups; they do not select specific options contracts, strike prices, expirations, or premiums.
Important Notes
Signals are based on technical conditions and do not guarantee future price movement.
A higher setup grade does not guarantee a successful trade.
Performance statistics are simulated and may differ from live trading results.
Market volatility, slippage, spreads, and execution timing can materially affect trading outcomes.
Historical performance does not guarantee future results.
Users should independently validate the indicator and apply appropriate risk management.
Dajavue's Magic ORB Pro
Catch the Breakout. Grade the Setup. Manage the Trade.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.