ORB Indicator

ORB – Opening Range Breakout Strength (Applies to First 2 Bars Only)

The ORB (Opening Range Breakout) indicator is a momentum-based tool designed to highlight potential long trade opportunities during the first two candles of the regular trading session. It’s built to detect early strength by filtering for clean bullish price action and relative outperformance against a benchmark index.

🔍 Signal Criteria
A blue triangle is plotted at the close of the candle if the following conditions are met:

The candle is bullish (close > open)

The body makes up at least 60% of the total candle range

The candle occurs during the first or second bar after session start (default: 9:30 AM)

The candle shows greater range strength (in %) than a benchmark symbol (e.g., QQQ or SPY), scaled by a configurable multiplier

⚙️ Customizable Settings
Benchmark Ticker: Choose any symbol (default: NASDAQ:QQQ)

Range Multiplier: Adjust the strength threshold relative to the benchmark’s range

Session Start Time: Set the hour and minute to match your market’s open

📈 Features
Visual signal: blue triangle below the bar

Alert-ready: Get notified instantly when a valid ORB setup appears

Executes only at bar close to ensure confirmed signal