The ORB with Price Targets Script will display the Opening Range (15 minutes of the open session by default) High and Low. It will then render upper and 2 lower Price Target Levels based on 50% and 100% profit targets of the Opening Range.
The opening range is customizable in the settings, where you can choose from 5 minute, 15 minute, or 30 minute Opening Ranges.
Many stock tickers tend to follow the Opening Range, and sees continuation after a break of that range. This is a common strategy used by traders to enter trades. Price action also tends to find support and resistance at the 50% and 100% retracement levels, thus providing you Price Targets to start trimming your position, or finding new entries.
릴리즈 노트
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Disabled the new Fib Levels (27.2%, 61.8% retracements) as it was causing odd issues during the trading day. I will reintroduce it after i find whats causing the exact issue.
릴리즈 노트
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Added ability to set alerts for ORB crosses.
To add an alert, click on the Alert Button at your top toolbar. - Select "ORB" for the Condition field. - Choose "Any alert function call" for all alerts, or choose "ORB Level Cross" for more custom options.
릴리즈 노트
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Monster Update - Added alerts for ORB breakouts as well as ORB level crosses - Ability to hide the labels for a cleaner look - Ability to hide ORB levels from previous days for a cleaner look - Render potential ORB breakouts and retests on the chart if desired for potential entries
릴리즈 노트
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Added lines for the midpoint and extended targets to 150% and 200%.
You can enable the visibility of these new lines in the indicator settings.
릴리즈 노트
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Added workaround hack for TradingView bug where number combos did not display correctly. This affected the ORB Period Selection dropdown. Added ability to set the timezone and ORB session manually to support users based in Europe and Asia. To use these customized values, you need to set the Period Dropdown to 0. Added Price Targets all the way up to 500% so we have price targets on large trend days.
Awesome work! could you please share how I could hide previous days ORBs and only show the current day?
getthatcashmoney
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@WhirlTrade007, I have now added an option to hide the previous days ORBs
EricPeterson1
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@getthatcashmoney, Seems like the same script, no option to toggle previous ORB's off and on that I can see, thanks for this indicator though! The best ORB indicator on TV! :)
EricPeterson1
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@getthatcashmoney, Ok, please disregard my comment below, it must've taken TV a few hours to refresh the script, just added the new version and see it now - VERY VERY cool!!! Thanks!