OPEN-SOURCE SCRIPT
Nifty 10-Candle ORB v4 (Alternating Trades)
The **Opening Range Breakout (ORB)** is a momentum-based trading strategy that focuses on the price action established during the initial minutes of the market session. Typically measured over the first 5, 15, or 30 minutes, this range defines a clear support and resistance zone where the "smart money" and institutional players often set the tone for the day. Traders watch for a high-volume candle to close above the range’s high or below its low, signaling a potential trend for the remainder of the session. Because the market is most volatile during the opening bell due to an influx of overnight orders and news reactions, the ORB strategy is highly favored for its ability to identify early directional bias, though it requires strict risk management to avoid being trapped by "fakeouts" or sudden mean-reversion moves.
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