OPEN-SOURCE SCRIPT
ORB Indicator + Full Visuals (PROFITABLE V4.1)
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ORB Strategy + Full Visuals (PROFITABLE V4.1) — Pure Indicator Edition
Overview
This script is a comprehensive conversion of the highly robust Opening Range Breakout (ORB) system into a fully visualized Indicator. Built specifically for active intraday traders targeting liquid instruments like Nasdaq-100 Futures (MNQ/NQ), Gold Futures (MGC/GC), and high-momentum equities, this tool handles complex mathematical tracking entirely on your chart without requiring the strategy tester.
Equipped with dual execution methodologies (Breakout and Mean Reversion), it features an intelligent, multi-target tracking state engine designed to scale out of positions and trail protection rules in real time.
Key Features
Intraday State Machine Tracking Engine: Automatically maps out dynamic, simulated trades directly from bar closes—calculating entry levels, profit targets, and trailing parameters seamlessly.
Multi-Target Scaling Logic:
Target 1 (1.5x ATR): Deployed as a high-probability scale-out marker. When achieved, the internal engine automatically trails the initial stop-loss to a strict breakeven level (entryPrice).
Target 2 (3.0x ATR): Stretched run target to maximize structural trends.
Dual Mode Architecture: Toggle instantly via inputs between asset classes and regimes:
Breakout Mode: Captures explosive volatility expansions when high/low thresholds cross along with supporting EMA and SMA alignment.
Mean Reversion Mode: Fades overextended moves targeting standard deviation extremes outside the Volume Weighted Average Price (VWAP).
Comprehensive Visual HUD & Dashboard: Built-in table tracking real-time asset distance from VWAP deviations, current ORB structures, and Yesterday's High/Low reference bands.
Capital Protection Guardrails: Fully restricted by a mandatory daily trade ceiling cap (maxTrades) preventing over-trading and emotional revenges during choppy distributions.
How to Trade It & Visual Legends
▲ LONG / ▼ SHORT: Clear entry signals plotted on the candle trigger.
TP1 Label (Small ✖): Confirms Target 1 was successfully scaled. Protection parameters for remaining units instantly snap to the entry price line.
TP2 TARGET Label (Large ✖): Confirms the final target was met and the trade has successfully completed.
STOP Label (✖): Highlights where either initial structural stop-loss or breakeven parameters were hit.
Inputs and Configurations
ORB Window: Default setup at 0930-0945 (First 15 minutes of the New York session).
Trading Hours: Default trading execution cutoff at 1130 to prevent trading into low-liquidity afternoon lunch doldrums.
Risk Metrics: Fully adjustable ATR multipliers for complete adaptability across volatile timeframes (1-minute, 3-minute, or 5-minute charts).
ORB Strategy + Full Visuals (PROFITABLE V4.1) — Pure Indicator Edition
Overview
This script is a comprehensive conversion of the highly robust Opening Range Breakout (ORB) system into a fully visualized Indicator. Built specifically for active intraday traders targeting liquid instruments like Nasdaq-100 Futures (MNQ/NQ), Gold Futures (MGC/GC), and high-momentum equities, this tool handles complex mathematical tracking entirely on your chart without requiring the strategy tester.
Equipped with dual execution methodologies (Breakout and Mean Reversion), it features an intelligent, multi-target tracking state engine designed to scale out of positions and trail protection rules in real time.
Key Features
Intraday State Machine Tracking Engine: Automatically maps out dynamic, simulated trades directly from bar closes—calculating entry levels, profit targets, and trailing parameters seamlessly.
Multi-Target Scaling Logic:
Target 1 (1.5x ATR): Deployed as a high-probability scale-out marker. When achieved, the internal engine automatically trails the initial stop-loss to a strict breakeven level (entryPrice).
Target 2 (3.0x ATR): Stretched run target to maximize structural trends.
Dual Mode Architecture: Toggle instantly via inputs between asset classes and regimes:
Breakout Mode: Captures explosive volatility expansions when high/low thresholds cross along with supporting EMA and SMA alignment.
Mean Reversion Mode: Fades overextended moves targeting standard deviation extremes outside the Volume Weighted Average Price (VWAP).
Comprehensive Visual HUD & Dashboard: Built-in table tracking real-time asset distance from VWAP deviations, current ORB structures, and Yesterday's High/Low reference bands.
Capital Protection Guardrails: Fully restricted by a mandatory daily trade ceiling cap (maxTrades) preventing over-trading and emotional revenges during choppy distributions.
How to Trade It & Visual Legends
▲ LONG / ▼ SHORT: Clear entry signals plotted on the candle trigger.
TP1 Label (Small ✖): Confirms Target 1 was successfully scaled. Protection parameters for remaining units instantly snap to the entry price line.
TP2 TARGET Label (Large ✖): Confirms the final target was met and the trade has successfully completed.
STOP Label (✖): Highlights where either initial structural stop-loss or breakeven parameters were hit.
Inputs and Configurations
ORB Window: Default setup at 0930-0945 (First 15 minutes of the New York session).
Trading Hours: Default trading execution cutoff at 1130 to prevent trading into low-liquidity afternoon lunch doldrums.
Risk Metrics: Fully adjustable ATR multipliers for complete adaptability across volatile timeframes (1-minute, 3-minute, or 5-minute charts).
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.