OPEN-SOURCE SCRIPT
Updated ORB [ASU]
This indicator automatically identifies and displays the Opening Range — the price high and low established during a specified time window at market open.
Key Functions:
Range Detection — Captures the high and low during the opening period
Visual Display — Draws a box with top/bottom boundaries and midpoint line
Size Alert — Labels the range size and warns if it exceeds a threshold
Time Extension — Extends levels forward until a specified end time
Key Functions:
Range Detection — Captures the high and low during the opening period
Visual Display — Draws a box with top/bottom boundaries and midpoint line
Size Alert — Labels the range size and warns if it exceeds a threshold
Time Extension — Extends levels forward until a specified end time
Release Notes
📊 Auto-Plots ORB LevelsHigh, Low, and Midline drawn automatically
Clean, non-cluttered visualization
⏰ Fully Customizable Timing
Set your own ORB start time and duration
Control how long levels extend on chart
🎨 Smart Size Warnings
🟢 Green = Valid ORB (tradeable range)
🔴 Red = Too Big (high risk, stay out)
🟠 Orange = Too Small (low volatility, skip it)
🌍 Global Timezone Support
Auto-adjusts for Daylight Saving Time
30+ timezones included
📈 Works on Any Timeframe
1m, 3m, 5m, 15m and more
Perfect for scalpers and day traders
Release Notes
Bank Holiday Bug Fix🛠️ Bug Fix: ORB Extension During Market Holidays
Problem: When a bank holiday occurred during trading hours, the ORB would fail to properly terminate at the designated extension end time (e.g., 11:00 EST). This caused the ORB from the previous session to continue extending indefinitely, even into the next trading day, resulting in overlapping ORBs and visual clutter on the chart.
Root Cause: The extension end time fell within the holiday's market closure window, so the indicator never received a bar to trigger the justPassedExtendTime() function. When trading resumed (often at 6:00 PM EST for futures), the previous day's ORB remained active and continued extending.
✅ What's Fixed
Calendar Day Detection - The ORB now tracks the full date (day, month, year) and automatically terminates if it detects a new calendar day has begun without the extension properly ending.
Maximum Bar Limit - Added a new safety parameter "Max Extension Bars" (default: 500) that forces the ORB to close if it extends beyond a reasonable number of bars, preventing runaway extensions in any edge case.
Improved Session Detection - Enhanced the new session detection logic to properly handle overnight gaps and market reopenings after holidays.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.