ORB UK Time Volume Confirm

This indicator builds a UK-time Opening Range (ORB) and generates breakout signals only when price closes outside the range with volume confirmation.

🔹 Core Logic

Opening Range defined by custom UK start time and duration
Breakout must be a candle close (no wick triggers)
Optional: only first breakout per day
Volume filter: breakout candle volume must exceed previous candle(s)
Signals dynamically plotted:
Green candle → signal below
Red candle → signal above

🔹 Why This Version?

Traditional ORB tools often trigger on wicks and ignore participation.
This version is designed to reduce false breaks by requiring:
Structural confirmation (close outside range)
Participation confirmation (relative volume expansion)
The goal is to filter out weak liquidity grabs and focus on genuine momentum expansion from the opening range.

🔹 Features

UK timezone
Adjustable ORB duration
Optional midline + shaded range
Bull/Bear 50%, 100%, targets
Optional volume confirmation strength (lookback setting)
Clean visual breakout markers (no labels cluttering the chart)
🔹 Best Used On
Works particularly well on 5-minute charts for index products during active sessions. I also use the 200ema if price is below i'm looking for the break below and vice versa for buys. I find this gives a better win ratio and greater chance to hit TP2 my SL is nearly always set at the mid point of the ORB. Also having the triangle on the candle keeps my chart clean and I do not have to have volume on there.

Notes de version

Update
Improved signal marker logic. Breakout markers now match candle direction (green candle → green up triangle, red candle → red down triangle) regardless of whether the signal appears above or below the ORB. This improves visual clarity without changing the indicator’s breakout logic.

Script open-source

Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.

mrianboylin

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Script open-source

mrianboylin