ORBSMMAATRVOLREENTRY2Contracts

📈 Opening Range Fibonacci Breakout (TradingView Strategy)

Overview:
The Opening Range Fibonacci Breakout strategy is designed to capture high-probability intraday moves by combining the power of the 15-minute opening range, trend confirmation via SMMA, and volume-based momentum filtering.

At the start of each trading session, the script automatically plots the Opening Range Box based on the first 15 minutes of price action — highlighting key intraday support and resistance levels.

How It Works:

Opening Range Setup

The first 15 minutes of the session define the range high and low.

A visual box marks this zone on the chart for easy reference.

Signal Generation

A Smoothed Moving Average (SMMA) with a user-defined period determines overall trend bias.

Candle volume is analyzed to confirm momentum strength.

Long Signal: Price breaks above the opening range high, SMMA trending up, and volume supports the move.

Short Signal: Price breaks below the opening range low, SMMA trending down, and volume supports the move.

Take Profit & Targets

Fibonacci extension levels are automatically plotted from the opening range.

These dynamic levels serve as structured Take Profit (TP) zones for partial or full exits.

Features:

✅ 15-Minute Opening Range Box

✅ Adjustable SMMA period

✅ Volume-based confirmation filter

✅ Automatic Fibonacci profit targets

✅ Visual Long/Short alerts & signals

Ideal For:
Scalpers and intraday traders who rely on early-session momentum, breakout confirmation, and precision exit targets.

Backtested for MNQ/NQ futures trading