OPEN-SOURCE SCRIPT
Opening Range Block | AlphaScript
🔷 AlphaScript ORB | Opening Range Block 🔷
ORB (Opening Range Block) is a systematic session-based trading tool designed to define and track the Opening Range (OR), one of the most important intraday reference zones for price discovery and breakout activity.
It captures the high and low of a defined session window and transforms it into a structured framework to analyze volatility, breakout conditions, and directional bias throughout the trading day.
📊 What it does
This indicator helps you:
-Define the Opening Range High and Low based on a customizable session
-Visualize the range using a dynamic block (box)
-Track the midpoint (50%) of the range
-Detect bullish and bearish breakout events
-Monitor key metrics such as range size, % move, and session status via an info panel
⚙️ How it works
-The indicator captures price action within a defined Opening Range window (e.g. 09:30–09:45)
-Once the window closes, the range is locked and extended forward for analysis
-Breakout signals are generated when price:
-Closes above the OR high → Bullish breakout
-Closes below the OR low → Bearish breakout
-A configurable extension system controls how long the range remains active on the chart
🎯 How to use it
This tool can be used to:
-Identify intraday breakout opportunities
-Define key support and resistance zones
-Structure trades around range expansion
-Use the midpoint (50%) as a decision or re-entry level
Typical approach:
-Trade breakouts above/below the Opening Range
-Use the OR as a reference for stop placement
-Combine with trend or momentum tools for confirmation
-Avoid trading inside the range during low volatility conditions
📊 Info Panel (Real-Time Context)
A built-in table provides a structured view of:
-Opening Range High / Low / Mid
-Range size and percentage
-Session status (building / complete)
-Breakout direction (bullish / bearish / none)
-Timezone and session details
👉 This allows for instant contextual understanding without subjective interpretation
⚙️ Customization
-Fully customizable session window and timezone
-Adjustable box, lines, and midline display
-Configurable breakout signals and colors
-Label visibility and formatting
-Info panel position and size
📈 Key advantages
Clear and structured Opening Range framework
Objective breakout detection
Real-time session and volatility context
Reduces noise and improves intraday decision-making
Works across multiple markets (stocks, indices, crypto, etc.)
🧠 AlphaScript Integration
ORB is designed to complement a broader systematic trading approach, where session structure, volatility, and trend can be combined to improve execution and consistency.
📝 Notes
This indicator is a decision-support tool, not a standalone strategy.
Best results come from combining it with proper risk management, market context, and a structured trading framework.
To explore our AI-powered trading system and indicator development platform, visit:
alphascript.co
ORB (Opening Range Block) is a systematic session-based trading tool designed to define and track the Opening Range (OR), one of the most important intraday reference zones for price discovery and breakout activity.
It captures the high and low of a defined session window and transforms it into a structured framework to analyze volatility, breakout conditions, and directional bias throughout the trading day.
📊 What it does
This indicator helps you:
-Define the Opening Range High and Low based on a customizable session
-Visualize the range using a dynamic block (box)
-Track the midpoint (50%) of the range
-Detect bullish and bearish breakout events
-Monitor key metrics such as range size, % move, and session status via an info panel
⚙️ How it works
-The indicator captures price action within a defined Opening Range window (e.g. 09:30–09:45)
-Once the window closes, the range is locked and extended forward for analysis
-Breakout signals are generated when price:
-Closes above the OR high → Bullish breakout
-Closes below the OR low → Bearish breakout
-A configurable extension system controls how long the range remains active on the chart
🎯 How to use it
This tool can be used to:
-Identify intraday breakout opportunities
-Define key support and resistance zones
-Structure trades around range expansion
-Use the midpoint (50%) as a decision or re-entry level
Typical approach:
-Trade breakouts above/below the Opening Range
-Use the OR as a reference for stop placement
-Combine with trend or momentum tools for confirmation
-Avoid trading inside the range during low volatility conditions
📊 Info Panel (Real-Time Context)
A built-in table provides a structured view of:
-Opening Range High / Low / Mid
-Range size and percentage
-Session status (building / complete)
-Breakout direction (bullish / bearish / none)
-Timezone and session details
👉 This allows for instant contextual understanding without subjective interpretation
⚙️ Customization
-Fully customizable session window and timezone
-Adjustable box, lines, and midline display
-Configurable breakout signals and colors
-Label visibility and formatting
-Info panel position and size
📈 Key advantages
Clear and structured Opening Range framework
Objective breakout detection
Real-time session and volatility context
Reduces noise and improves intraday decision-making
Works across multiple markets (stocks, indices, crypto, etc.)
🧠 AlphaScript Integration
ORB is designed to complement a broader systematic trading approach, where session structure, volatility, and trend can be combined to improve execution and consistency.
📝 Notes
This indicator is a decision-support tool, not a standalone strategy.
Best results come from combining it with proper risk management, market context, and a structured trading framework.
To explore our AI-powered trading system and indicator development platform, visit:
alphascript.co
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Gabriel R. | AlphaScript
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Gabriel R. | AlphaScript
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.