(ORB) Opening Range Breakout 15min

📊 (ORB) Opening Range Breakout 15min
Created by jasonk1ng

The Opening Range Breakout (ORB) strategy is a time-tested trading approach used by intraday traders to capture early market momentum and structure. This indicator is built around the first 15 minutes of market activity, which often defines a critical support/resistance zone for the rest of the session.

✅ Benefits of Using ORB

• Momentum Identification: The first 15 minutes of the trading day often represent institutional activity. Breakouts above or below this range frequently signal the beginning of strong directional moves.
  
• Clear Structure: ORB defines well-framed support/resistance levels using real market behavior — no need for subjective trendlines.
  
• Works Across Assets: This strategy can be applied to stocks, indices, forex markets, making it highly versatile.
  
• Simple Yet Effective: ORB removes guesswork by basing decisions on objective price levels — a powerful edge for both discretionary and rule-based traders.
  

⚙️ Indicator Features
This script visualizes the 15-minute Opening Range directly on your chart, and includes several customizations for flexibility:

🔷 Core Plots

• Opening Range High (ORH) — top of the first 15-minute candle.
  
• Opening Range Low (ORL) — bottom of the first 15-minute candle.
  
• Filled Zone — shaded area between ORH and ORL, visually emphasizing the opening range zone.
  

🛠️ Customization Options

• Toggle Line Visibility: Turn the Opening Range High or Low lines on/off individually.
  
• Line Style Selection: Choose between solid line or dotted circles for your range lines — ideal for tailoring to your chart preferences.
  
• Color Controls: Customize the color of the High, Low, and Fill area to match your theme or strategy preferences.
  
• Transparency Control: Adjust the fill’s transparency to reduce visual clutter or highlight the range more strongly.