ORB High/Low

Opening Range High/Low (ORB) Indicator

This indicator plots the Opening Range High and Low (ORB) for a user-defined time window on your chart. It helps traders identify the initial price range after market open, which is commonly used for breakout and trend strategies.

Key Features:

Custom OR Window: Set your own start and end time for the Opening Range. Default is 08:30–08:45 CST.

ORB High/Low Lines: Automatically plots the high and low of the opening range.

Sticky Labels: “ORB High” and “ORB Low” labels follow the lines across the chart for easy visibility.

Shaded Box: Highlights the opening range area with customizable color and opacity.

Custom Colors: Separate colors for lines, shading, and labels, allowing for full chart customization.

Stop Time: Optionally stop plotting OR lines after a specific time.

Daily Reset: Automatically resets at the start of a new day, preventing carryover from the previous session.

Usage:

Identify breakout levels: watch for price to break above ORB High or below ORB Low.

Gauge early market volatility and momentum.

Combine with other technical tools for trend confirmation or intraday strategies.

Ideal For: Intraday and day traders who rely on the first 15 minutes of the trading session to identify key levels and potential breakout points.