OPEN-SOURCE SCRIPT
Ultimate Opening Range Breakout
🔷 Indicator Name
Ultimate Opening Range Breakout (ORB)
📌 Description
The Ultimate Opening Range Breakout (ORB) is an advanced intraday trading tool designed to identify high-probability breakout opportunities using the opening session range. Built for precision traders, this indicator combines price action, volatility, volume profiling, and statistical tracking into a single powerful framework on Trading View.
⚙️ Core Concept
The indicator defines an Opening Range (OR) based on a customizable session (default: first 30 minutes). Once the session ends:
The High and Low of the range act as key breakout levels
Breakouts above/below these levels generate Bullish / Bearish signals
Multiple target extensions and probability tracking guide trade management
🚀 Key Features
1. Opening Range Detection
Custom session timing & timezone support
Works across global markets (Forex, Stocks, Crypto)
Option to use High/Low or Close-based range
2. Breakout Signals
Clear Bull Break / Bear Break labels
Volume-based confirmation (High Volume / Low Volume tagging)
One signal per direction per session to avoid noise
3. Smart Target Extensions
Choose between:
Multiples (1x, 2x, 3x)
Fibonacci Levels (0.382, 0.618, 1.0)
Dynamic target plotting above and below OR
4. Probability Dashboard 📊
Tracks historical performance of targets
Displays:
Hit count
Total sessions
Success rate (%)
Gives a data-driven edge, not just visual signals
5. Volume Profile (Inside OR)
Adaptive tick-based volume distribution
Identifies Point of Control (POC)
Helps understand institutional activity zones
6. ATR-Based Trailing Stop
Dynamic trailing stop using ATR
Locks profits during trend continuation
Optional visualization with profit tracking
7. Stop Optimizer (Advanced)
Simulates multiple ATR multipliers
Finds most profitable trailing stop setting
Useful for strategy refinement
8. Controlled Plotting
Option to stop plotting at:
New York Close
London Close
Manual time
End of day
📈 How to Use
Wait for the opening range session to complete
Watch for breakout:
Above OR High → Long Bias
Below OR Low → Short Bias
Use:
Extension levels as targets
ATR trailing stop for exit
Refer to dashboard for probability insights
🎯 Best Use Cases
Intraday trading (Index, Stocks, Forex)
Breakout + momentum strategies
Scalping with confirmation
Data-backed discretionary trading
Ultimate Opening Range Breakout (ORB)
📌 Description
The Ultimate Opening Range Breakout (ORB) is an advanced intraday trading tool designed to identify high-probability breakout opportunities using the opening session range. Built for precision traders, this indicator combines price action, volatility, volume profiling, and statistical tracking into a single powerful framework on Trading View.
⚙️ Core Concept
The indicator defines an Opening Range (OR) based on a customizable session (default: first 30 minutes). Once the session ends:
The High and Low of the range act as key breakout levels
Breakouts above/below these levels generate Bullish / Bearish signals
Multiple target extensions and probability tracking guide trade management
🚀 Key Features
1. Opening Range Detection
Custom session timing & timezone support
Works across global markets (Forex, Stocks, Crypto)
Option to use High/Low or Close-based range
2. Breakout Signals
Clear Bull Break / Bear Break labels
Volume-based confirmation (High Volume / Low Volume tagging)
One signal per direction per session to avoid noise
3. Smart Target Extensions
Choose between:
Multiples (1x, 2x, 3x)
Fibonacci Levels (0.382, 0.618, 1.0)
Dynamic target plotting above and below OR
4. Probability Dashboard 📊
Tracks historical performance of targets
Displays:
Hit count
Total sessions
Success rate (%)
Gives a data-driven edge, not just visual signals
5. Volume Profile (Inside OR)
Adaptive tick-based volume distribution
Identifies Point of Control (POC)
Helps understand institutional activity zones
6. ATR-Based Trailing Stop
Dynamic trailing stop using ATR
Locks profits during trend continuation
Optional visualization with profit tracking
7. Stop Optimizer (Advanced)
Simulates multiple ATR multipliers
Finds most profitable trailing stop setting
Useful for strategy refinement
8. Controlled Plotting
Option to stop plotting at:
New York Close
London Close
Manual time
End of day
📈 How to Use
Wait for the opening range session to complete
Watch for breakout:
Above OR High → Long Bias
Below OR Low → Short Bias
Use:
Extension levels as targets
ATR trailing stop for exit
Refer to dashboard for probability insights
🎯 Best Use Cases
Intraday trading (Index, Stocks, Forex)
Breakout + momentum strategies
Scalping with confirmation
Data-backed discretionary trading
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.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
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.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.