Name: ORB Indicator with Adjustable Buffer, Moving Averages, and Center Line
Overview: This indicator is designed for intraday traders using the Opening Range Breakout (ORB) strategy. It calculates the high and low levels during a specific session (e.g., the first 5 minutes of the trading day) and applies adjustable buffers to these levels. Additionally, it includes a center line between the buffered high and low levels, as well as multiple moving averages for further trend analysis.
Features: Opening Range Breakout (ORB) Levels:
High and Low: Identified during the configured session time (default: 9:15 AM to 9:20 AM). Buffered Levels: Calculated dynamically using the range between ORB high and ORB low. A new percentage buffer is computed as half of the percentage change from the low to the high. Buffered levels: Upside Buffer and Downside Buffer. Center Line:
A visual midpoint between the Upside Buffer and Downside Buffer. Displayed in light blue with 50% opacity and a thin line style. Helps traders visualize the equilibrium point. Crossover and Crossunder Signals:
Buy Signal (B): When the price crosses above the Upside Buffer. Sell Signal (S): When the price crosses below the Downside Buffer. Configurable for either close price or touch-based detection. Moving Averages:
Includes Exponential Moving Averages (EMA) and Simple Moving Averages (SMA). Configurable lengths for short-term, medium-term, and long-term trends. Can be hidden or displayed as per user preference. Customization Options: ORB Session Time: Configurable to define the range for ORB calculation (default: 9:15 AM to 9:20 AM). Signal Detection: Option to use Close or Touch for signal generation. Moving Average Lengths: Adjustable for EMA (7, 14, 26) and SMA (50, 100, 200, 1000). Buffer Calculation: Automatically calculates the buffer levels based on the ORB range. Visual Elements: Buffered Levels: Green: Upside Buffer. Red: Downside Buffer. Center Line: Light blue, 50% opacity. Signals: Buy: Green label below the bar. Sell: Red label above the bar. Moving Averages: Color-coded and customizable for trend visualization. Use Case: This indicator is ideal for:
Breakout Trading: Identifying potential breakouts using buffered ORB levels. Reversal Trading: Spotting price rejections near the ORB levels. Trend Analysis: Leveraging moving averages to confirm or invalidate breakout signals.
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.
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.