OPEN-SOURCE SCRIPT
Telah dikemas kini ORB W/ Custom time Frames
Release Notes: Simplified ORB (Opening Range Breakout)
This indicator is a streamlined, high-performance tool designed to identify the Opening Range—one of the most widely used concepts by professional floor traders and institutional scalpers. It marks the high, low, and midpoint of the initial balance of the market, providing you with a "map" for the rest of the trading session.
Key Features
Customizable Timeframes: Define your opening range window (e.g., the first 5, 15, or 30 minutes) regardless of what timeframe you are currently viewing.
Custom Session Support: Choose between standard market hours (09:30–16:00) or define your own custom window (e.g., the London Open or the first hour of "Power Hour").
Real-Time Midpoint Calculation: Automatically plots the 50% Equilibrium level between the high and low, serving as a pivot point for intraday bias.
Dynamic Updating: During the ORB window, the lines adjust in real-time as new highs or lows are set. Once the window expires, the levels lock in place to act as support and resistance.
Clean Visuals: Utilizes a lightweight line drawing system that is easy on your GPU and keeps the chart clutter-free.
Why This is Essential for Scalping
Scalpers rely on volatility and clear "lines in the sand." The Opening Range Breakout (ORB) provides exactly that:
The "Opening Drive": If price breaks the ORB High with high volume, scalpers look for quick "long" momentum plays. Conversely, a break below the ORB Low signals a bearish trend.
The Midpoint Pivot: The 50% level (Mid) is often treated as the "Fair Value" of the morning. If price is above the mid, the bias is bullish; if below, the bias is bearish.
Stop Loss / Take Profit Anchor: The ORB High and Low act as natural areas for placing stops or targets. A failed breakout that returns inside the range often targets the opposite side of the box.
This indicator is a streamlined, high-performance tool designed to identify the Opening Range—one of the most widely used concepts by professional floor traders and institutional scalpers. It marks the high, low, and midpoint of the initial balance of the market, providing you with a "map" for the rest of the trading session.
Key Features
Customizable Timeframes: Define your opening range window (e.g., the first 5, 15, or 30 minutes) regardless of what timeframe you are currently viewing.
Custom Session Support: Choose between standard market hours (09:30–16:00) or define your own custom window (e.g., the London Open or the first hour of "Power Hour").
Real-Time Midpoint Calculation: Automatically plots the 50% Equilibrium level between the high and low, serving as a pivot point for intraday bias.
Dynamic Updating: During the ORB window, the lines adjust in real-time as new highs or lows are set. Once the window expires, the levels lock in place to act as support and resistance.
Clean Visuals: Utilizes a lightweight line drawing system that is easy on your GPU and keeps the chart clutter-free.
Why This is Essential for Scalping
Scalpers rely on volatility and clear "lines in the sand." The Opening Range Breakout (ORB) provides exactly that:
The "Opening Drive": If price breaks the ORB High with high volume, scalpers look for quick "long" momentum plays. Conversely, a break below the ORB Low signals a bearish trend.
The Midpoint Pivot: The 50% level (Mid) is often treated as the "Fair Value" of the morning. If price is above the mid, the bias is bullish; if below, the bias is bearish.
Stop Loss / Take Profit Anchor: The ORB High and Low act as natural areas for placing stops or targets. A failed breakout that returns inside the range often targets the opposite side of the box.
Nota Keluaran
Nothing updated. Just wanted the chart to show the indicator. Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.