15-Min ORB Indicator with Breakout Targets

**What this indicator does:**

The 15-Min ORB (Opening Range Breakout) Indicator helps traders spot breakout trades by automatically detecting the high and low of the first 15 minutes after a session opens. It then monitors for breakouts above or below this range and plots dynamic take-profit levels based on your chosen multipliers.

**How it works:**

• You set the start time for your session (hour and minute) in the settings.
  
• The indicator marks the high and low during the first 15 minutes after your chosen open time, drawing lines on the chart and, if enabled, labels for these levels.
  
• If price breaks above the 15-min high, a potential long breakout is identified; if it breaks below the low, a potential short breakout is detected.
  
• Upon a breakout, the script calculates the distance from the entry (breakout) to the opposite side of the 15-min range and uses your input multipliers to project two take-profit levels (TP1/TP2).
  
• All lines and labels (for the range and targets) can be individually toggled on or off in the settings.
  
• Both the 15-min range and the targets can be styled (color, line style, label position).
  

**How to use it:**

1. Add the indicator to your chart.
   
2. Set the session start hour and minute to match your instrument’s open (e.g., 9:30 for US stocks or futures).
   
3. Use the settings to customize which levels and labels are shown, their appearance, and the target expansion multiples.
   
4. When price breaks out above or below the opening range, the script will plot TP1 and TP2 lines at your chosen risk/reward multiples, and label them if desired.
   
5. You can use the visual levels for trade entries, profit taking, or alerts.
   

**What makes it unique and useful:**>

• Unlike many basic ORB indicators, this script not only marks the opening range but also tracks breakouts, auto-plots your profit targets based on range expansion, and gives you full control over display (styles, toggles, and label positions).
  
• The TP targets are dynamic and can be set to any multiples, adapting to your risk/reward plan and breakout style.
  
• Everything is customizable for your own session times, instrument, or trading approach.
  

**Typical uses:**

• Intraday traders looking for clear breakout setups around the session open.
  
• Automated R-multiple target planning for both long and short trades.
  
• Visualizing volatility and measuring early price expansion.