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

Note di rilascio

📊 Auto-Plots ORB Levels

High, 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

Note di rilascio

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.

Script open-source

Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.

asumanixd

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Script open-source

asumanixd