OPEN-SOURCE SCRIPT
ORB Expansion Pro (Expansion Ranges and EER)
ORB Expansion Pro
Description
ORB Expansion Pro transforms the Opening Range Breakout from a simple breakout strategy into a complete market expansion framework.
Most ORB traders focus only on whether price breaks above or below the opening range. The problem is that a breakout alone provides no context about how far price is likely to travel or whether the move is already extended.
ORB Expansion Pro solves that problem by automatically calculating historical Opening Range statistics and projecting expansion levels based on real market behavior.
The indicator tracks Opening Range size, historical averages, expansion multiples, and expected range development to help traders evaluate opportunity, risk, and remaining session potential.
Key Features
✔ Automatic Opening Range calculations
✔ Historical average ORB analysis
✔ Expansion projections beyond the ORB
✔ Expected Expansion Range (EER) levels
✔ Session development tracking
✔ Objective profit target framework
✔ Visual expansion mapping directly on the chart
✔ Designed for futures, stocks, ETFs, and indexes
How Traders Use It
Identify unusually small or large opening ranges
Measure current expansion versus historical expectations
Set objective targets using expansion multiples
Evaluate whether a move is early, mature, or extended
Improve trade management and profit-taking decisions
Avoid chasing moves that have already exhausted expected range
Best Used With
ORB Dashboard Pro
Volume Profile
VWAP
Auction Market Theory
Market Structure Analysis
Real Trading. Real Testing. Real Results.
** Related Indicators from Traders Workshop
• ORB Expansion Pro
• ORB Dashboard Pro
• ORB Sessions
• Everex Lite
• Flow MA Cloud
Description
ORB Expansion Pro transforms the Opening Range Breakout from a simple breakout strategy into a complete market expansion framework.
Most ORB traders focus only on whether price breaks above or below the opening range. The problem is that a breakout alone provides no context about how far price is likely to travel or whether the move is already extended.
ORB Expansion Pro solves that problem by automatically calculating historical Opening Range statistics and projecting expansion levels based on real market behavior.
The indicator tracks Opening Range size, historical averages, expansion multiples, and expected range development to help traders evaluate opportunity, risk, and remaining session potential.
Key Features
✔ Automatic Opening Range calculations
✔ Historical average ORB analysis
✔ Expansion projections beyond the ORB
✔ Expected Expansion Range (EER) levels
✔ Session development tracking
✔ Objective profit target framework
✔ Visual expansion mapping directly on the chart
✔ Designed for futures, stocks, ETFs, and indexes
How Traders Use It
Identify unusually small or large opening ranges
Measure current expansion versus historical expectations
Set objective targets using expansion multiples
Evaluate whether a move is early, mature, or extended
Improve trade management and profit-taking decisions
Avoid chasing moves that have already exhausted expected range
Best Used With
ORB Dashboard Pro
Volume Profile
VWAP
Auction Market Theory
Market Structure Analysis
Real Trading. Real Testing. Real Results.
** Related Indicators from Traders Workshop
• ORB Expansion Pro
• ORB Dashboard Pro
• ORB Sessions
• Everex Lite
• Flow MA Cloud
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.