ORB System Builder v1.5

TradeX ORB System Builder v1.5 — Configurable Opening Range Breakout Framework

TradeX ORB System Builder is a configurable Opening Range Breakout (ORB) strategy framework designed to allow users to construct, test, and evaluate their own ORB-based rule sets.

This is not a single preset trading strategy.
Instead, it functions as a system-building tool that allows users to define how entries, exits, and risk logic are applied around an opening range using a structured and repeatable rule engine.

All logic is developed in-house and operates under a unified internal framework to ensure consistent behavior across instruments and timeframes.

Core Concept & Originality

The script is built around a modular ORB engine that separates:

• range construction
• breakout detection
• execution method
• risk logic
• trade limits

Rather than using a fixed ORB template, the framework allows users to study how different breakout definitions and risk models behave under the same structured logic.

This differs from standard ORB scripts by allowing users to modify execution behavior and risk management rules without altering the underlying range logic, enabling controlled experimentation inside one framework.

Entry Logic

Users can select between two internally coded breakout execution methods:

Entry on Cross of the Range
A trade is triggered when price crosses the defined opening range boundary intrabar.

Entry on Close Outside the Range
A trade is triggered only when a candle closes fully outside the defined range.

Both methods follow the same internal range calculation rules, allowing users to compare breakout behavior while preserving a consistent structure.

Range & Session Configuration

The framework provides precise control over how the opening range and trading session are defined:

• Range start time (hour, minute, second)
• Range end time (hour, minute, second)
• Trade start time (hour and minute)
• Trade end time (hour and minute)
• End-of-day cutoff time
• Time zone selection

An optional setting allows users to include or exclude U.S. market holidays from testing to prevent distorted datasets.

These controls allow users to define exactly which market session is being tested and ensure reproducible backtesting conditions.

Risk & Trade Management Logic

Trade behavior is governed by user-defined risk parameters, including:

• Risk allocation per trade
• Stop loss placement based on candle structure or as a percentage of the opening range
• Take profit targets defined using risk-to-reward multiples
• Optional break-even adjustment based on achieved risk-to-reward
• Maximum long trades per day
• Maximum short trades per day
• Maximum winning trades per day
• Maximum losing trades per day

This structure allows users to study how different risk models interact with the same breakout logic while enforcing controlled exposure and trade frequency.

Visualization & Diagnostic Tools

The script includes optional visual and diagnostic components to assist configuration and testing:

• Debug panel displaying active input settings
• Adjustable panel position and text size
• Customizable opening range line color, width, and style

Position fills can be enabled or disabled, with adjustable:

• Profit fill color
• Loss fill color
• Transparency
• Label size

These tools are intended to help users visually verify system behavior and ensure inputs are being applied as intended.

Strategy Properties & Backtesting

This script is published as a strategy for structured backtesting and evaluation.

Users should:

• Use realistic account sizes
• Apply realistic commission and slippage
• Select datasets that generate sufficient trade samples (ideally more than 100 trades)
• Avoid excessive risk per trade

Default settings are provided for demonstration and framework testing only.
Users are responsible for configuring position sizing, commissions, slippage, and session parameters appropriate to their market and timeframe.

Development Process

The ORB System Builder was initially prototyped using Python-based simulations to evaluate variations in:

• breakout execution logic
• timing rules
• session structure
• risk management behavior

The most consistent and stable rule sets were then implemented in Pine Script as a configurable framework rather than a single fixed strategy.

Intended Use

This script is designed for:

• strategy research
• ORB rule development
• controlled backtesting
• comparative model testing

It is not intended as a pre-optimized trading system.

Disclaimer

TradeX ORB System Builder is a proprietary TradeX Labs system-building framework.

It is provided for educational and research purposes only.
It does not guarantee profitability and is not financial advice.

Default configurations are illustrative only.
Users must adjust the system based on their own instruments, sessions, and risk tolerance.

This script enables users to define their own ORB-based logic and does not represent a pre-optimized or preset trading strategy.