Opening Range Desk opening range breakout indicator for TradingView

Before the break: Auto previews Long above the midpoint and Short below it, while price is inside the box. Exactly at the midpoint, neither side shows. Choose Long, Short, Both or Off in settings. Dashed lines extend left by default to compare with earlier highs, lows or your Volume Profile.

The assumed entry is OR high + breakout buffer for Long, or OR low − buffer for Short. Targets use your stop placement and R or range-height settings. They can move as the range and ATR change; the eventual entry can differ. The preview creates no signal or alert.

Previews end when price leaves the box, a retest arms, a trade occurs, the day is skipped or the entry window ends. They do not return after today’s first trade. A confirmed entry keeps its own frozen plan.

Inside the box: points = high − low. OR percent = points ÷ the first OR bar’s open × 100. FORMING changes with the range; SET uses the completed range. The default band includes 0.15% through 1%; SMALL and LARGE describe values outside it. These editable bands are information only and do not skip a day. Existing ATR-based entry filters remain separate.

The range must be locked, the trade window open, the range-size and side filters passed, and the daily allowance available with no trade open. An optional latest-entry cutoff can stop new entries sooner.

Default windows use America/New_York: opening range 09:30–09:45; entries 09:45–15:55. Decisions commit on closed candles. On a five-minute chart, the 09:45 candle locks the range at its 09:50 close and can count toward entry.

With flat-at-end on, an open trade closes at the close of the window’s last candle: the candle that reaches 15:55. On five-minute candles that is the 15:50 candle; on fifteen-minute candles, the 15:45 candle, so nothing is held overnight. No new trade opens on that candle.

Close through: the required consecutive closes must finish strictly beyond the edge plus any breakout buffer. A close on or inside that boundary resets the count.

Retest: those closes first arm the setup. A later candle must visit the allowed area near the edge and close beyond the raw edge. The arming candle cannot enter.

Example: upper edge 106, ATR 8, default tolerance 0.25. A later low at or below 108 records a touch. A close above 106 enters; exactly 106 waits. A close below 104 cancels; exactly 104 survives. A recorded touch can carry forward.

The default deadline is twelve later candles; the thirteenth expires first. Filters and strong-close checks qualify the arming candle; they are not checked again at retest entry. Window, allowance and flat-position gates still apply.

A wick beyond an edge that closes back inside can receive a fake-out mark. Two consecutive closes are required by default, but they cannot prevent every reversal.

The optional failed-breakout exit closes a long when a later close falls below the raw upper edge; it can pass through the whole box. The short rule mirrors this. The optional failure fade trades the opposite way and uses the daily allowance.

Stop: the plan’s loss-exit level. By default it sits beyond the opposite edge by 0.1 ATR. ATR measures recent price movement, including gaps.

1R: the price distance from entry to initial stop. The first target is that distance in the trade’s favor; the final target is twice it. Reaching TP1 moves the stop to entry by default. It does not take partial profit.

The indicator checks the existing stop before targets on each later candle. If both are touched, its paper record counts the stop first. A newly moved stop is not applied retroactively to that candle’s earlier wick. A candle that opens beyond the stop exits at its open.

Size display: Divides the risk input by the entry-to-stop distance times the symbol’s point value, and rounds down to its contract step. It does not convert currencies. The Strategy Lab sizes its own orders: the smaller of a risk percentage and a largest-position cap.

State names the stage; the line under it says what the tool waits for. The ribbon shows four steps: range, checks, break, result. Checks lists the trade window with its time left, today’s allowance and each filter that is on: ✓ met, ✗ not met, — no data. Plan shows the levels a breakout would take, or the open trade’s entry, stop and targets.

Today is the session timeline. This chart counts days and how trades ended, after an estimated cost you set. Co-Pilot’s default Standard mode gives NOW, WHY, PLAN and LIMITS; Brief gives NOW and PLAN.

Defaults below refer to the indicator. Change one setting at a time.

The Strategy Lab shows the same desk and adds its risk and largest-position settings.

Twelve named conditions cover: range set, day skipped, long, short, breakout armed, fake-out, first target, final target, stop, time stop, failed breakout and flat at the end of the window. Choose Once Per Bar Close.

Any alert() function call sends RANGE_SET, ORB_LONG, ORB_SHORT, TP1 and EXIT. JSON includes the version, symbol, timeframe, event, side, plan prices, range edges, reason and time; a missing number is null.

These messages report the indicator’s events; they are not broker fill confirmations.

1. Keep the defaults and read the reason line through a session.
2. Load the Strategy Lab on a second chart.
3. Set realistic costs in its properties, then compare one change at a time.
4. Record losing examples as well as successful ones; check a separate period too.

The Strategy Lab starts with capital 100,000, sizes each trade by 1 percent risk capped at the account’s equity, fees of 0.02 percent per order and five ticks of slippage. Set commission per contract for futures. Its order emulator can fill differently from the indicator’s stop-first paper record.

We compared twenty-six variations on three charts with costs. Results differed by market; a retest did not improve every chart. None of the variations paid on the two index ETFs in that summer sample.

It was one summer, small samples and in-sample testing. The numbers belong beside that context in the lab notes. They do not establish how your next trade will end.

Those measurements tested version 1.2. Version 2.0 keeps its rules but corrects four cases, so they describe 1.2, not 2.0. Our plan for measuring 2.0 on data nobody has looked at is written down before any result.

The lab notes are in review and will be linked here.

The tool reads chart candles in your chosen timezone. Feed, session, timeframe or input changes can recalculate history. Use an intraday chart that fits the opening window.

Trade decisions use confirmed candles; forming boxes and previews can move on live updates. A higher-timeframe EMA uses its last closed candle. VWAP follows the chart’s session, which can differ from your opening-range window.

The indicator draws a rule-based plan, not a prediction. Its record subtracts an estimated cost you set; your real costs can differ. Measure your own chart and actual execution. This is research tooling, not financial advice.