ORB/PreMarket High & Low

ORB High and Low with Daily Levels

Overview

The ORB High and Low indicator is an original lightweight TradingView tool designed to map key intraday reference levels in real time. It plots the Opening Range High and Low based on two user-defined time windows, along with the current day’s High and Low, directly on the chart as price develops.

The indicator is intentionally simple and rule-based, focusing on level identification rather than signal generation. This allows traders to use the plotted levels as objective reference points within their own trading strategies.

How the Indicator Works

At the start of each trading day, the indicator:

Tracks price during two configurable Opening Range periods

Calculates the High and Low for each Opening Range window

Continuously updates and plots the current day’s High and Low as new price data forms

All levels are derived from real-time price data and are fixed once their respective calculation windows are complete.

Displayed Levels

The indicator can display:

Opening Range High and Low for the first user-defined timeframe

Opening Range High and Low for a second, independent timeframe

Previous session High

Previous session Low

Each level is clearly labeled and can be visually customized to maintain a clean and readable chart.

Practical Use

Traders commonly use ORB and daily levels to:

Define intraday support and resistance

Assess early session volatility and directional bias

Evaluate breakouts or rejections from the opening range

Structure intraday trade planning around objective price levels

This indicator does not generate buy or sell signals and is designed to complement price action, market structure, and risk management techniques.

Customization

Users can:

Adjust both Opening Range time windows independently

Toggle individual levels on or off

Customize line styles, colors, and visibility

These options allow the indicator to be adapted to different markets and trading styles.

Markets and Timeframes

The ORB High and Low indicator can be used across stocks, futures, forex, and crypto, and is suitable for intraday timeframes where session-based analysis is relevant.

Disclaimer

This indicator is intended for educational and analytical purposes only and does not constitute financial advice. Always apply proper risk management and confirm analysis using additional tools.