OPEN-SOURCE SCRIPT
ORB 15 Break + Retest Confirmation
This indicator is designed for use on a 5-minute chart and identifies a specific Opening Range Breakout setup using the first 15 minutes of the regular trading session.
It automatically calculates the ORB 15 High (15H) and ORB 15 Low (15L) from the 9:30 AM to 9:45 AM New York session. Once those levels are established, the script waits for a valid breakout.
A bullish setup begins only when a completed 5-minute candle closes above ORB 15H. After the breakout, the indicator waits for price to return and retest the 15H level. If price touches or slightly penetrates the level and the 5-minute candle closes back above it, the script generates a LONG confirmation.
A bearish setup works the same way in reverse. A completed 5-minute candle must first close below ORB 15L. The script then waits for price to retest the 15L level from below. If price touches or slightly crosses the level and the candle closes back below it, the script generates a SHORT confirmation.
The script uses a sequential state-based approach, so a retest signal cannot occur unless a valid breakout happened first. Wick-only breakouts are ignored, and signals are evaluated only on completed 5-minute candles.
The indicator also includes a configurable retest tolerance and a maximum number of bars allowed for the retest to occur. If the breakout fails or the retest does not happen within the defined window, the setup is reset.
This tool is intended to help identify structured breakout → retest → confirmation setups around the 15-minute opening range.
Disclaimer: This indicator is provided for educational and informational purposes only and does not constitute financial or investment advice. Signals may be inaccurate, delayed, or fail under certain market conditions. Always perform your own analysis, use appropriate risk management, and trade at your own risk. The author is not responsible for any losses resulting from the use of this script.
It automatically calculates the ORB 15 High (15H) and ORB 15 Low (15L) from the 9:30 AM to 9:45 AM New York session. Once those levels are established, the script waits for a valid breakout.
A bullish setup begins only when a completed 5-minute candle closes above ORB 15H. After the breakout, the indicator waits for price to return and retest the 15H level. If price touches or slightly penetrates the level and the 5-minute candle closes back above it, the script generates a LONG confirmation.
A bearish setup works the same way in reverse. A completed 5-minute candle must first close below ORB 15L. The script then waits for price to retest the 15L level from below. If price touches or slightly crosses the level and the candle closes back below it, the script generates a SHORT confirmation.
The script uses a sequential state-based approach, so a retest signal cannot occur unless a valid breakout happened first. Wick-only breakouts are ignored, and signals are evaluated only on completed 5-minute candles.
The indicator also includes a configurable retest tolerance and a maximum number of bars allowed for the retest to occur. If the breakout fails or the retest does not happen within the defined window, the setup is reset.
This tool is intended to help identify structured breakout → retest → confirmation setups around the 15-minute opening range.
Disclaimer: This indicator is provided for educational and informational purposes only and does not constitute financial or investment advice. Signals may be inaccurate, delayed, or fail under certain market conditions. Always perform your own analysis, use appropriate risk management, and trade at your own risk. The author is not responsible for any losses resulting from the use of this script.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.