OPEN-SOURCE SCRIPT
jrhMultORBRevFade
⭐ ORB TRADING CHECKLIST (Daily Use)
A. Opening Preparation
1. Choose your Opening Range window
Pick one and stick to it:
• First 5 minutes
• First 15 minutes
• First 30 minutes
Consistency is everything.
2. Mark the Opening Range High (ORH) and Low (ORL)
• ORH = highest price inside your chosen window
• ORL = lowest price inside your chosen window
Do not trade until the window is complete.
3. Note higher‑timeframe context
• 1h / 4h trend
• Major levels nearby (PDH, PDL, weekly levels)
• Volatility expectations (news, session type)
B. Breakout Phase
4. Wait for a candle to CLOSE outside the range
This is the break.
• Close above ORH → potential long
• Close below ORL → potential short
Wicks do not count. Only closes matter.
5. Evaluate the break quality
A good break has:
• Strong body
• Clear momentum
• Preferably elevated volume
A weak break = caution.
C. Retest Phase (The Most Important Step)
6. Wait for price to retest ORH/ORL
After the break, price should pull back to the level it broke.
This retest determines whether the breakout is real or fake.
7. Watch the retest candle CLOSE
VALID CONTINUATION
• Long: retest candle rejects ORH and closes ABOVE ORH
• Short: retest candle rejects ORL and closes BELOW ORL
This means the breakout is holding. Continuation trade is valid.
FAILED BREAKOUT
• Retest candle closes back INSIDE the opening range
This means:
• Breakout failed
• Do NOT trade continuation
• Switch to failed‑ORB logic
This single rule prevents most ORB losses.
D. Entry Rules
8. Entry for VALID continuation ORB
Long setup
• Break above ORH
• Retest ORH
• Retest candle closes above ORH
• Enter on the first bullish confirmation candle
Short setup
• Break below ORL
• Retest ORL
• Retest candle closes below ORL
• Enter on the first bearish confirmation candle
9. Stop placement
Use tight, logical stops:
• Long: below retest wick or below ORH
• Short: above retest wick or above ORL
10. Targets
Define risk R as distance from entry to stop.
• T1 = +1R
• T2 = +2R
• T3 = liquidity levels or trail if trend is strong
E. Failed ORB Logic
If the retest candle closes inside the range:
11. Treat the breakout as FAILED
Breakout direction is invalid.
12. Expect price to travel toward the opposite side
• Failed break below ORL → price often moves toward ORH
• Failed break above ORH → price often moves toward ORL
13. Two valid trades after a failed ORB
A. Reversal ORB
If price breaks the opposite side (e.g., breaks ORH after failing below ORL):
• Enter in the new direction
• Stop beyond the opposite range boundary
• Target range expansion
B. Range Fade
If price reaches the opposite side and rejects:
• Fade back toward the middle or opposite boundary
• Stop beyond the rejection wick
F. Management Rules
14. One ORB trade per direction
Avoid overtrading.
15. Never trade inside the opening range
Only trade:
• Breaks
• Retests
• Failed‑ORB reversals
• Opposite‑side fades
16. Let the retest candle CLOSE decide
This is the golden rule:
• Close outside → continuation
• Close inside → failure
A. Opening Preparation
1. Choose your Opening Range window
Pick one and stick to it:
• First 5 minutes
• First 15 minutes
• First 30 minutes
Consistency is everything.
2. Mark the Opening Range High (ORH) and Low (ORL)
• ORH = highest price inside your chosen window
• ORL = lowest price inside your chosen window
Do not trade until the window is complete.
3. Note higher‑timeframe context
• 1h / 4h trend
• Major levels nearby (PDH, PDL, weekly levels)
• Volatility expectations (news, session type)
B. Breakout Phase
4. Wait for a candle to CLOSE outside the range
This is the break.
• Close above ORH → potential long
• Close below ORL → potential short
Wicks do not count. Only closes matter.
5. Evaluate the break quality
A good break has:
• Strong body
• Clear momentum
• Preferably elevated volume
A weak break = caution.
C. Retest Phase (The Most Important Step)
6. Wait for price to retest ORH/ORL
After the break, price should pull back to the level it broke.
This retest determines whether the breakout is real or fake.
7. Watch the retest candle CLOSE
VALID CONTINUATION
• Long: retest candle rejects ORH and closes ABOVE ORH
• Short: retest candle rejects ORL and closes BELOW ORL
This means the breakout is holding. Continuation trade is valid.
FAILED BREAKOUT
• Retest candle closes back INSIDE the opening range
This means:
• Breakout failed
• Do NOT trade continuation
• Switch to failed‑ORB logic
This single rule prevents most ORB losses.
D. Entry Rules
8. Entry for VALID continuation ORB
Long setup
• Break above ORH
• Retest ORH
• Retest candle closes above ORH
• Enter on the first bullish confirmation candle
Short setup
• Break below ORL
• Retest ORL
• Retest candle closes below ORL
• Enter on the first bearish confirmation candle
9. Stop placement
Use tight, logical stops:
• Long: below retest wick or below ORH
• Short: above retest wick or above ORL
10. Targets
Define risk R as distance from entry to stop.
• T1 = +1R
• T2 = +2R
• T3 = liquidity levels or trail if trend is strong
E. Failed ORB Logic
If the retest candle closes inside the range:
11. Treat the breakout as FAILED
Breakout direction is invalid.
12. Expect price to travel toward the opposite side
• Failed break below ORL → price often moves toward ORH
• Failed break above ORH → price often moves toward ORL
13. Two valid trades after a failed ORB
A. Reversal ORB
If price breaks the opposite side (e.g., breaks ORH after failing below ORL):
• Enter in the new direction
• Stop beyond the opposite range boundary
• Target range expansion
B. Range Fade
If price reaches the opposite side and rejects:
• Fade back toward the middle or opposite boundary
• Stop beyond the rejection wick
F. Management Rules
14. One ORB trade per direction
Avoid overtrading.
15. Never trade inside the opening range
Only trade:
• Breaks
• Retests
• Failed‑ORB reversals
• Opposite‑side fades
16. Let the retest candle CLOSE decide
This is the golden rule:
• Close outside → continuation
• Close inside → failure
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.