OPEN-SOURCE SCRIPT
ORB + Volume Confirmation | AlphaScript
ORB + Volume Confirmation filters the opening range breakout through the one thing most ORB tools ignore: whether anyone actually showed up for the move.
Every breakout is checked against relative volume, and the ones that fail the check get marked right on your chart — hollow, gray, labeled. For the first time you don't just see the breakouts you'd take. You see the ones that would have taken you.
🧠 Concept
The number one complaint about opening range breakout systems is false breakouts — price pokes through the range, triggers the entry, and immediately reverses. But most false breakouts share a fingerprint: they happen on thin volume.
A genuine initiative break is an auction event; participants commit size to push price out of balance, and that commitment is visible in the tape before the follow-through confirms it. A breakout on quiet volume isn't initiative — it's drift, and drift beyond a boundary gets sold back inside.
The fix isn't a better range. It's asking one question at the moment of the break: is this bar's volume abnormal for this moment of the day? If yes, the break is confirmed. If no, it's flagged as exactly what it is — a breakout that crossed the line without the fuel to hold it.
🔍 What it does
Builds the opening range from the first N minutes of your session (5/15/30/60, timezone configurable) and draws it as a clean box that releases price after a set number of bars, with the range high and low continuing as level rays across the session.
Every close beyond the range is then sorted into one of two categories:
Confirmed breakout — close beyond the range AND relative volume at or above your threshold (default 1.5×). Marked with a bold signal label showing the exact volume multiple ("LONG BREAK · 2.5× VOL"), plus projected targets at 0.5×, 1.0×, 1.5×, and 2.0× the range height.
Unconfirmed breakout — price crossed, volume didn't. Marked hollow and gray with its actual reading ("no vol 1.1×"). These marks are the teaching layer of the entire tool: scroll back through any month of sessions and count how many of the gray triangles reversed. That's the tuition a naked ORB system charges.
Two volume engines are included. Rolling SMA compares the bar against recent average volume — simple, active immediately. Time-of-Day (adaptive) compares each bar against the average volume at that same minute of the day across recent sessions — the stricter, more honest read, because it knows the open is always loud and refuses to be impressed by it.
⚙️ How it works
A breakout is confirmed only on a full bar close beyond the range — wicks don't count, and nothing repaints intrabar. One confirmed signal per direction per session, so a chop day can't spam your chart or your alerts.
Signals are only valid within a configurable window after the range completes (default 3 hours). A late-afternoon "break" of the morning range is a different trade — this tool refuses to pretend otherwise.
Relative volume is computed against a baseline that never includes the current bar, zero-volume bars can never confirm, and the session logic survives date rollovers, holiday sessions, and the Sunday futures open. Intraday charts only, at or below the range duration — the script enforces this rather than silently drawing nonsense.
Targets are fully configurable: independent colors per direction, line style, width, transparency, labels — and an option to keep target levels from previous sessions on the chart (depth of your choosing), turning the tool into a study of how price respects old range projections.
📈 How to use it
The default configuration is built for US index futures: 15-minute opening range, New York 09:30 session, 1.5× volume threshold on a 1–5 minute chart.
Start by doing nothing. Load it, scroll back twenty sessions, and compare the confirmed signals against the gray ones. The threshold isn't a magic number — it's a dial between selectivity and opportunity, and the chart will show you where your market and timeframe want it. Index futures generally respect 1.5×; forex tick volume tends to run flatter, so 1.2–1.3× is a more realistic starting point there.
The volume multiple printed on each signal is information, not decoration:
a 3× break and a 1.6× break both confirm, but they are not the same trade.
Three alerts are included: confirmed long, confirmed short, and unconfirmed touch (off by default — turn it on if you want to be told when a trap is forming). Recommended setting: "Once per bar close."
📝 Notes
A decision-support tool, not a strategy. Volume confirmation filters breakouts — it doesn't guarantee them. Confirmed breaks fail too, just less often than the ones nobody paid for. Always apply your own risk management.
Every breakout is checked against relative volume, and the ones that fail the check get marked right on your chart — hollow, gray, labeled. For the first time you don't just see the breakouts you'd take. You see the ones that would have taken you.
🧠 Concept
The number one complaint about opening range breakout systems is false breakouts — price pokes through the range, triggers the entry, and immediately reverses. But most false breakouts share a fingerprint: they happen on thin volume.
A genuine initiative break is an auction event; participants commit size to push price out of balance, and that commitment is visible in the tape before the follow-through confirms it. A breakout on quiet volume isn't initiative — it's drift, and drift beyond a boundary gets sold back inside.
The fix isn't a better range. It's asking one question at the moment of the break: is this bar's volume abnormal for this moment of the day? If yes, the break is confirmed. If no, it's flagged as exactly what it is — a breakout that crossed the line without the fuel to hold it.
🔍 What it does
Builds the opening range from the first N minutes of your session (5/15/30/60, timezone configurable) and draws it as a clean box that releases price after a set number of bars, with the range high and low continuing as level rays across the session.
Every close beyond the range is then sorted into one of two categories:
Confirmed breakout — close beyond the range AND relative volume at or above your threshold (default 1.5×). Marked with a bold signal label showing the exact volume multiple ("LONG BREAK · 2.5× VOL"), plus projected targets at 0.5×, 1.0×, 1.5×, and 2.0× the range height.
Unconfirmed breakout — price crossed, volume didn't. Marked hollow and gray with its actual reading ("no vol 1.1×"). These marks are the teaching layer of the entire tool: scroll back through any month of sessions and count how many of the gray triangles reversed. That's the tuition a naked ORB system charges.
Two volume engines are included. Rolling SMA compares the bar against recent average volume — simple, active immediately. Time-of-Day (adaptive) compares each bar against the average volume at that same minute of the day across recent sessions — the stricter, more honest read, because it knows the open is always loud and refuses to be impressed by it.
⚙️ How it works
A breakout is confirmed only on a full bar close beyond the range — wicks don't count, and nothing repaints intrabar. One confirmed signal per direction per session, so a chop day can't spam your chart or your alerts.
Signals are only valid within a configurable window after the range completes (default 3 hours). A late-afternoon "break" of the morning range is a different trade — this tool refuses to pretend otherwise.
Relative volume is computed against a baseline that never includes the current bar, zero-volume bars can never confirm, and the session logic survives date rollovers, holiday sessions, and the Sunday futures open. Intraday charts only, at or below the range duration — the script enforces this rather than silently drawing nonsense.
Targets are fully configurable: independent colors per direction, line style, width, transparency, labels — and an option to keep target levels from previous sessions on the chart (depth of your choosing), turning the tool into a study of how price respects old range projections.
📈 How to use it
The default configuration is built for US index futures: 15-minute opening range, New York 09:30 session, 1.5× volume threshold on a 1–5 minute chart.
Start by doing nothing. Load it, scroll back twenty sessions, and compare the confirmed signals against the gray ones. The threshold isn't a magic number — it's a dial between selectivity and opportunity, and the chart will show you where your market and timeframe want it. Index futures generally respect 1.5×; forex tick volume tends to run flatter, so 1.2–1.3× is a more realistic starting point there.
The volume multiple printed on each signal is information, not decoration:
a 3× break and a 1.6× break both confirm, but they are not the same trade.
Three alerts are included: confirmed long, confirmed short, and unconfirmed touch (off by default — turn it on if you want to be told when a trap is forming). Recommended setting: "Once per bar close."
📝 Notes
A decision-support tool, not a strategy. Volume confirmation filters breakouts — it doesn't guarantee them. Confirmed breaks fail too, just less often than the ones nobody paid for. Always apply your own risk management.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Gabriel R. | AlphaScript
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Gabriel R. | AlphaScript
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.