OPEN-SOURCE SCRIPT

OR High Breakout + Volume + VWAP

171
//version=6
// -----------------------------------------------------------------------------
// Opening Range High Breakout With Volume, VWAP, Time, and Candle Strength Filter
// -----------------------------------------------------------------------------
// What this indicator does:
// 1. Builds an opening range from 9:30 AM to 10:30 AM Eastern Time.
// - The opening range high is the highest price reached during that window.
// - The opening range average volume is the average bar volume during that
// same 9:30 AM to 10:30 AM Eastern Time window.
//
// 2. Looks for a bullish breakout only after the opening range is complete and
// before 11:30 AM Eastern Time.
// - A breakout requires the current bar to close above the opening range high.
// - The previous bar must not have already closed above the opening range high,
// so the signal marks the actual breakout bar instead of every bar above it.
//
// 3. Requires expanded volume on the breakout bar.
// - The breakout bar's volume must be at least 1.5x the average volume from
// the opening range.
//
// 4. Requires price confirmation above VWAP.
// - The breakout bar's close must be above the current VWAP value.
//
// 5. Requires strong buying pressure on the breakout candle.
// - The breakout bar must close in the top 50% of its own high-low range.
// - This helps filter out weak breakouts that close near the lower half of
// the candle.
//
// 6. Uses confirmed bars only.
// - The signal waits for the bar to close before marking the chart or firing
// the alert condition.
//
// Visual output:
// - Draws a horizontal green line at the opening range high.
// - Marks valid breakout bars with a green triangle above the bar.
// - Applies a light green background highlight when all conditions are met.
//
// Alert output:
// - Creates an alert condition for valid breakout signals.
// - The alert message includes the symbol, close price, and bar time.
// - In TradingView, create the alert with "Once Per Bar" selected.

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