5min ORB + Ripster EMA Clouds5min ORB + Ripster EMA Clouds
This indicator combines a 5-minute Opening Range Breakout engine with Ripster's multi-EMA cloud system and layers an optional confluence filter on top, so breakout signals only fire when trend and higher-timeframe structure agree. It's built for intraday traders who want the opening range, trend context, and a defined profit target all in one overlay.
What it plots
Opening Range Breakout (ORB): The range is built from the first five 1-minute candles of the session (default 09:30–09:35 New York, fully configurable for your market and timezone). Once the window closes, the high, low, and midpoint are frozen and drawn as lines, an optional shaded box anchored at the session open, and optional price labels. Levels are measured on the 1-minute timeframe, so they stay identical on any chart timeframe you view.
Ripster EMA Clouds: Five configurable EMA/SMA cloud pairs (defaults 8/9, 5/12, 34/50, 72/89, 180/200) that shade green/red based on the fast-vs-slow relationship to show trend at a glance.
Breakout signals: Fire when a confirmed 1-minute candle closes outside the range, latched once per side per day.
Confluence "GO" signals (optional): A breakout is only flagged when the fast cloud (and optionally the 34/50 cloud in strict mode) agrees with the breakout direction.
Full Timeframe Continuity (optional): Requires the current Daily (and optionally 60m + 30m) candles to be pointing the same way as the trade — i.e. price above their opens for longs, below for shorts.
Profit Target Box: After the confirmation candle closes, projects a target at a configurable percentage of that candle's range (default 200%, equivalent to a 2:1 setup with the stop on the far side of the candle) and marks the moment price tags it.
How to use it
Apply it to an intraday chart (1-minute is recommended for signal accuracy). Wait for the opening range to close and freeze. Watch for a 1-minute close beyond the ORB high/low; the confluence "GO" label appears when the EMA clouds and your chosen continuity setting confirm the direction. The profit box then projects a target from the entry. All signals use confirmed, closed candles with lookahead handling designed to avoid repainting. Alerts are included for plain breakouts, confluence signals, and profit-target hits. Every input (session window, timezone, cloud lengths, filters, target percentage, colors) can be adjusted in settings.
Credits
The EMA cloud section is a faithful port of "Ripster EMA Clouds" by ripster47, converted from Pine Script v4 to v6, and is used under the Mozilla Public License 2.0. All other components — the opening range engine, 1-minute breakout confirmation, confluence logic, Full Timeframe Continuity filter, and profit target box — are original additions and make up the majority of the script.
This tool is for chart analysis and education only. It does not provide financial advice or guarantee any result; always do your own research and manage risk.
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