Custom NYSE Open Range

This indicator is designed for Opening Range Breakout (ORB) traders who focus on the high-intensity volatility of the New York open. By isolating the very first 5-minute candle of the session, it establishes a "Battle Zone"—the high and low of which represent the initial consensus between institutional buyers and sellers.

The Strategy: Opening Range Breakout (ORB)
The logic behind this tool is that the first 5 minutes of trading often set the "Initial Balance" for the day.

The Box (The Range): The rectangle marks the boundaries of volatility. As long as price stays inside this box, the market is in a state of "price discovery."

Bullish Scenario (Buy): A sustained breakout and candle close above the upper boundary of the M5 box signals that buyers have taken control of the session.

Bearish Scenario (Sell): A sustained breakout and candle close below the lower boundary signals that sellers are driving the momentum.