OPEN-SOURCE SCRIPT
ORB with Percentage Line
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Indicator Name: ORB (Opening Range Breakout) with Percentage Line
Author: ∞xLiquidated
Description:
This indicator is designed to help traders identify and track the Opening Range Breakout (ORB) within a specified time period. It plots the high (ORB High) and low (ORB Low) of the opening range based on the highest and lowest prices during the chosen session. Additionally, it features a customizable percentage-based line between the high and low, offering enhanced flexibility for price analysis.
Features:
Opening Range Boundaries:
Automatically plots the ORB High and ORB Low on the chart during the selected session time (e.g., 09:15–09:20).
Percentage-Based Line:
Displays a line at a user-defined percentage level between ORB High and ORB Low (e.g., 50% for the midpoint).
Customizable Session Time:
Users can easily configure the time window for calculating the opening range using the session input.
Real-Time Updates:
The indicator updates dynamically as new highs or lows occur during the session.
Use Case:
This indicator is perfect for traders who rely on breakout strategies, especially during the opening session of the market. The percentage line can serve as an additional reference point for identifying potential support and resistance zones within the opening range.
Inputs:
ORB Total Time (minutes): Sets the time period for defining the opening range.
Session Time: Specifies the session during which the opening range is calculated (e.g., 09:15–09:20).
Percentage Between High and Low: Determines the position of the percentage line (e.g., 50% for the midpoint).
Author: ∞xLiquidated
Description:
This indicator is designed to help traders identify and track the Opening Range Breakout (ORB) within a specified time period. It plots the high (ORB High) and low (ORB Low) of the opening range based on the highest and lowest prices during the chosen session. Additionally, it features a customizable percentage-based line between the high and low, offering enhanced flexibility for price analysis.
Features:
Opening Range Boundaries:
Automatically plots the ORB High and ORB Low on the chart during the selected session time (e.g., 09:15–09:20).
Percentage-Based Line:
Displays a line at a user-defined percentage level between ORB High and ORB Low (e.g., 50% for the midpoint).
Customizable Session Time:
Users can easily configure the time window for calculating the opening range using the session input.
Real-Time Updates:
The indicator updates dynamically as new highs or lows occur during the session.
Use Case:
This indicator is perfect for traders who rely on breakout strategies, especially during the opening session of the market. The percentage line can serve as an additional reference point for identifying potential support and resistance zones within the opening range.
Inputs:
ORB Total Time (minutes): Sets the time period for defining the opening range.
Session Time: Specifies the session during which the opening range is calculated (e.g., 09:15–09:20).
Percentage Between High and Low: Determines the position of the percentage line (e.g., 50% for the midpoint).
Notes de version
Translated from Croatian to English.Notes de version
Custom parametersScript open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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