OPEN-SOURCE SCRIPT
ORB Sessions Pro - Premarket + NY Open
# ORB Sessions Pro
## Overview
ORB Sessions Pro is designed to help traders visualize and compare two of the most important auction periods of the trading day:
• Premarket Opening Range (08:00–09:00 ET)
• New York Open Opening Range (09:30 ET)
Rather than treating every market open the same, this indicator allows traders to study how price responds to different auction periods and how those ranges influence the remainder of the session.
The goal is not to generate buy or sell signals.
The goal is to provide objective auction reference points that help traders understand where price is being accepted, rejected, and potentially migrating throughout the day.
---
## Features
• Independent Premarket and NY Open ORBs
• Selectable NY Open range lengths (5, 15, 30, 45, or 60 minutes)
• Display ORB levels only or extend them through the trading session
• Historical average ORB calculations
• Integrated ORB Sessions Dashboard
• Session range utilization tracking
• Custom colors, line styles, and label options
• Lightweight design with a clean chart presentation
---
## ORB Sessions Dashboard
The integrated dashboard provides quick insight into current market conditions without requiring additional calculations.
The dashboard displays:
• Premarket ORB size and historical average
• NY Open ORB size and historical average
• Average session range
• Current session range
• Percentage of average range already completed
• Remaining range based on historical averages
This allows traders to quickly determine whether the market has already completed a typical daily move or may still have room for expansion.
By combining opening range information with current range statistics, traders gain additional context about auction development throughout the session.
---
## How I Use It
The Opening Range is one of the simplest ways to identify where early market participants found value.
When price remains inside the ORB, the market is often balanced.
When price accepts above or below the ORB, it can signal initiative activity and the potential for directional movement.
The Premarket ORB often highlights overnight inventory and areas of acceptance before the cash session begins.
The NY Open ORB helps identify where institutional participation enters the market and can provide important reference levels throughout the day.
These levels become even more meaningful when combined with market context, volume profile, and value migration.
---
## Best Used With
• VWAP
• Volume Profile
• Auction Market Theory (AMT)
• Market Structure Analysis
• Balance and Imbalance Concepts
• Acceptance and Rejection Analysis
---
## Traders Workshop Philosophy
Most traders spend their time reacting to price.
This indicator was built to help traders understand the auction taking place behind the price movement.
Stop reacting to the market.
Start reading it.
---
**Real Trading. Real Testing. Real Results.**
## Overview
ORB Sessions Pro is designed to help traders visualize and compare two of the most important auction periods of the trading day:
• Premarket Opening Range (08:00–09:00 ET)
• New York Open Opening Range (09:30 ET)
Rather than treating every market open the same, this indicator allows traders to study how price responds to different auction periods and how those ranges influence the remainder of the session.
The goal is not to generate buy or sell signals.
The goal is to provide objective auction reference points that help traders understand where price is being accepted, rejected, and potentially migrating throughout the day.
---
## Features
• Independent Premarket and NY Open ORBs
• Selectable NY Open range lengths (5, 15, 30, 45, or 60 minutes)
• Display ORB levels only or extend them through the trading session
• Historical average ORB calculations
• Integrated ORB Sessions Dashboard
• Session range utilization tracking
• Custom colors, line styles, and label options
• Lightweight design with a clean chart presentation
---
## ORB Sessions Dashboard
The integrated dashboard provides quick insight into current market conditions without requiring additional calculations.
The dashboard displays:
• Premarket ORB size and historical average
• NY Open ORB size and historical average
• Average session range
• Current session range
• Percentage of average range already completed
• Remaining range based on historical averages
This allows traders to quickly determine whether the market has already completed a typical daily move or may still have room for expansion.
By combining opening range information with current range statistics, traders gain additional context about auction development throughout the session.
---
## How I Use It
The Opening Range is one of the simplest ways to identify where early market participants found value.
When price remains inside the ORB, the market is often balanced.
When price accepts above or below the ORB, it can signal initiative activity and the potential for directional movement.
The Premarket ORB often highlights overnight inventory and areas of acceptance before the cash session begins.
The NY Open ORB helps identify where institutional participation enters the market and can provide important reference levels throughout the day.
These levels become even more meaningful when combined with market context, volume profile, and value migration.
---
## Best Used With
• VWAP
• Volume Profile
• Auction Market Theory (AMT)
• Market Structure Analysis
• Balance and Imbalance Concepts
• Acceptance and Rejection Analysis
---
## Traders Workshop Philosophy
Most traders spend their time reacting to price.
This indicator was built to help traders understand the auction taking place behind the price movement.
Stop reacting to the market.
Start reading it.
---
**Real Trading. Real Testing. Real Results.**
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.