KOBK ORB - Dynamic Opening Range Breakout

# KOBK ORB - Dynamic Opening Range Breakout

## What is KOBK ORB?

KOBK ORB is a professional-grade **Opening Range Breakout (ORB)** indicator designed for intraday traders. It automatically detects and tracks opening ranges during the first 5, 15, 30, and 60 minutes of the trading session, then signals when price breaks out of these ranges with advanced filtering.

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## Key Features

✅ **Multi-Stage ORB Levels** - Tracks 5, 15, 30, and 60-minute opening ranges simultaneously

✅ **Automatic Breakout Detection** - Identifies when price breaks above/below ORB levels with visual labels

✅ **Retest Identification** - Shows when price returns to test ORB after breaking out (re-entry opportunities)

✅ **Smart Filters** - Volume, Trend, and Higher Timeframe bias filters to reduce false signals

✅ **Position Sizing** - Calculates shares to buy based on your risk management rules (fixed risk $ or % of account)

✅ **Automatic TP/SL Levels** - Displays entry, stop loss, and take profit targets (1R, 1.5R, 2R, 3R options)

✅ **Real-Time Dashboard** - Shows session stats, breakout counts, volatility meter, and trade performance

✅ **Risk/Reward Display** - Calculates R/R ratio for every trade setup

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## How to Use

### 1. **Setup**
- Apply indicator to **5-minute chart** during regular trading hours
- Set your account size and risk per trade in settings
- Enable/disable ORB stages (5, 15, 30, 60 min) based on your strategy

### 2. **Read the ORB Levels**
- Yellow lines = ORB5 (first 5 minutes)
- Green lines = ORB15 (first 15 minutes)
- Blue lines = ORB30 (first 30 minutes)
- Purple lines = ORB60 (first 60 minutes)
- Watch for breakouts above the HIGH or below the LOW

### 3. **Take Breakout Signals**
- **Green UP label** = Price broke above ORB High (long signal)
- **Red DOWN label** = Price broke below ORB Low (short signal)
- Entry price, stop loss, and profit targets appear automatically
- Check dashboard for Volume, Trend, and HTF bias confirmation

### 4. **Trade Management**
- **Entry** = Breakout level (shown as cyan/orange line)
- **Stop Loss** = Red line (calculated by your stop method)
- **Take Profits** = Green lines (1R, 2R, 3R options)
- Lines freeze when last TP hits or SL is touched

### 5. **Monitor Dashboard**
- **Volume Status** = Shows if breakout has volume confirmation
- **Trend Filter** = Shows if price is in bullish/bearish trend
- **HTF Bias** = Shows if higher timeframe supports your trade
- **Daily Stats** = Tracks breakouts, retests, failed breaks today
- **Position Size** = Max shares to buy to stay within your risk

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## Settings Guide

### Essential Settings
- **Enable ORB 5/15/30/60** - Choose which timeframes to track
- **Risk Mode** - Set risk per trade ($ amount or % of account)
- **Account Size** - Your total trading capital
- **Stop Method** - ATR, ORB %, Swing, or Smart Adaptive

### Filters (Optional but Recommended)
- **Volume Filter** - Requires minimum volume for breakout confirmation
- **Trend Filter** - Only takes breakouts aligned with trend
- **Higher Timeframe** - Checks daily trend before taking signals

### Display
- **Show Background** - Fills ORB range with color
- **Show Edge Labels** - Labels at ORB high/low
- **Show TP/SL Lines** - Displays profit targets on chart
- **Show Dashboard** - Real-time trade info panel

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## Best Practices

🎯 **Best for:** Liquid stocks with >1M daily volume (SPY, QQQ, individual stocks)

⏰ **Best time:** 9:30-11:30 AM EST (first 2 hours when liquidity is highest)

📊 **Recommended:** Use on 5-minute charts for optimal signal quality

⚠️ **Risk Management:** Never risk more than 1-2% of account per trade

💡 **Tip:** Check HTF bias (daily trend) before taking signals - breakouts WITH trend have higher success rate

❌ **Avoid:** Choppy/ranging markets, low-volume stocks, earnings days

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## Example Trade

**Scenario: LONG Breakout**
1. Market opens 9:30 AM
2. ORB5 is $100-$101 (range = $1)
3. Price breaks above $101 at 9:35 AM → **GREEN UP LABEL** appears
4. Dashboard shows: Entry $101.20, SL $100.50, TP1 $102.20 (+1R), TP2 $103.20 (+2R)
5. Position sizing shows: 150 shares max ($150 risk ÷ $1 stop distance)
6. Watch the green line extend as price rallies
7. Exit at TP1 ($102.20) for +$150 profit, or hold for TP2 (+$300 profit)
8. If SL hits, max loss = $150 (1R)

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## Important Notes

⚠️ **Educational Use** - This indicator is for learning and strategy development

📈 **Paper Trade First** - Test on paper trading before risking real money

🔔 **Alerts Available** - Set up alerts for breakouts, retests, and failed breaks

💾 **Customize** - All colors, timeframes, and levels are adjustable

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## Disclaimer

This indicator is for **educational and informational purposes only**. It does not constitute financial advice. Trading involves substantial risk of loss. Past performance does not guarantee future results. Always do your own research and consult with a financial advisor before trading.