OPEN-SOURCE SCRIPT
(ORB) Opening Range and Fib Pullback
Opening Range — Fib Pullback + ORB
The indicator is provide Buy or sell indication based on the below settings:
- FIB BUY 50% — pullback to the 50% Fib level with rejection
- FIB BUY 70% — deeper pullback to 70% Fib level
- ORB SELL — breakout below OR Low at 1.9× average volume
- ORB BUY 11.6× — breakout above OR High on very heavy volume (11.6× avg)
- Info table (bottom right): 15min OR, Bearish direction, OR High/Low levels, ORB Status = Intact
The indicator is provide Buy or sell indication based on the below settings:
- FIB BUY 50% — pullback to the 50% Fib level with rejection
- FIB BUY 70% — deeper pullback to 70% Fib level
- ORB SELL — breakout below OR Low at 1.9× average volume
- ORB BUY 11.6× — breakout above OR High on very heavy volume (11.6× avg)
- Info table (bottom right): 15min OR, Bearish direction, OR High/Low levels, ORB Status = Intact
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.
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.
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.