ORB Breakouts with alerts

27 Ogo

"ORB Breakouts with Alerts" is a utility indicator that highlights an Opening Range Breakout (ORB) setup during a user-defined intraday time window. It allows traders to visualize price consolidation ranges and receive alerts when price breaks above or below the session high/low.

🔧 Features:

*Customizable session time (start and end), adjustable to local time using a timezone offset.
*Automatically plots:
*A shaded box around the session's high and low.
*Horizontal lines at session high and low levels.
*Optional "BUY"/"SELL" labels to mark breakout directions.
*Visual breakout signals when price crosses above or below the session range.
*Built-in alerts to notify when breakouts occur.
*Configurable styling options including box color, highlight color, and label placement.

⚙️ How It Works:
*During the defined time range, the script tracks the highest high and lowest low.
*After the session ends:
*A box is drawn to represent the opening range.
*Breakouts above the high or below the low trigger visual markers and optional alerts.
*Alerts are limited to one per direction per day to reduce noise.

⚠️ This indicator is a technical analysis tool only and does not provide financial advice or trade recommendations. Always use with proper risk management and in conjunction with your trading plan.

30 Ogo

Nota Keluaran

🔹 Key Benefits

Visual Clarity: Instantly see the session’s high–low range through shaded boxes and horizontal lines.

Timely Alerts: Receive instant notifications when price breaks above or below the opening range.

Noise Reduction: Limits alerts to one per direction per day to prevent repeated signals and reduce trading noise.

Customization: Tailor session times, colors, and visual elements to match your trading style and local market hours.

Strategic Insights: Includes a midline option for extra context, helping you gauge intraday market momentum within the ORB.

🔧 Features & Functionality

1. Session Range Definition:

Define a specific intraday time window for the opening range (start & end times).

Adjust for local timezone to match exchange hours.

2. Automatic Visualization:

Shaded ORB Box: Highlights the high–low range of the session for clear visual reference.

High/Low Lines: Horizontal lines extend beyond the session to indicate key breakout levels.

Optional Midline: Plot a line at a custom percentage between the high and low, useful for intraday support/resistance reference.

Breakout Labels: Optional BUY/SELL labels appear on breakout candles for immediate clarity.

3. Breakout Detection & Alerts:

Monitors price outside the session range.

Triggers alerts when:

Price breaks above the session high → BUY signal

Price breaks below the session low → SELL signal

Alerts are limited to one per direction per day to avoid repeated notifications.

4. Fully Customizable Visuals:

Choose highlight colors, box fill and border colors, and label placement (left/right).

Supports clean, readable visualization for both dark and light chart themes.

5. Reset Mechanism:

Automatically resets session high/low and breakout flags at the start of each trading day to ensure accurate daily tracking.

⚙️ How It Works

During the defined opening range, the script continuously tracks the highest high and lowest low.

At session end:

A shaded box is drawn between the high and low.

Horizontal lines mark the breakout levels.

Optional midline and labels are added.

Outside of the session:

A price breakout above the session high triggers a BUY alert.

A price breakout below the session low triggers a SELL alert.

Alerts are fired only once per breakout direction per day.

30 Ogo

Nota Keluaran

🔧 Buffer Lines (Technical Specification)

Definition: Two auxiliary horizontal lines plotted relative to the session’s breakout levels.
Placement:
Upper Buffer Line = Session High + (Buffer Distance × pip size)
Lower Buffer Line = Session Low – (Buffer Distance × pip size)
Buffer Distance: User-defined in pips via Buffer Distance (pips) input.
Pip size is derived from syminfo.mintick.
Display Options:
Toggle visibility with Show Buffer Lines.
Customizable color (Buffer Line Color).
Adjustable style (Solid / Dashed / Dotted).

Persistence: Lines are drawn for each completed ORB session and remain visible historically, aligned with the corresponding session high/low lines.

Use Case: Creates a configurable buffer zone around the breakout levels to help mitigate false signals triggered at exact ORB boundaries.

6 Sep

Nota Keluaran

ORB Breakouts Update – Take Profit (TP) Lines:

--Added BUY and SELL TP lines (TP1 & TP2) to measure potential profit targets.
--BUY TP lines calculate distance from the BUY breakout line to the session midline and extend 100% and 200% above the BUY line.
--SELL TP lines calculate distance from the SELL breakout line to the midline and extend 100% and 200% below the SELL line.