OPEN-SOURCE SCRIPT
5min ORB - HenryJ
5min ORB, for ICT trading
Strategy Implementation: The main goal is to identify and visually mark the trading range established during the first 5 minutes of the regular trading session.
Time Definition: It measures the Highest High and Lowest Low recorded from the session open (minute 0) up to the close of the 5th minute.
Visual Marking: It draws two distinct horizontal line segments on the chart:
One line marks the High of the 5-minute Opening Range.
One line marks the Low of the 5-minute Opening Range.
Drawing Window: The lines are intentionally drawn starting from the 6th minute (after the range is fully established) and extend up to the 60th minute of the trading session. This ensures the lines are available to guide trades for the first hour after the opening volatility subsides.
Labeling: It includes a "5min ORB" text label placed near the high line, clearly identifying the range.
BY Henry J
Strategy Implementation: The main goal is to identify and visually mark the trading range established during the first 5 minutes of the regular trading session.
Time Definition: It measures the Highest High and Lowest Low recorded from the session open (minute 0) up to the close of the 5th minute.
Visual Marking: It draws two distinct horizontal line segments on the chart:
One line marks the High of the 5-minute Opening Range.
One line marks the Low of the 5-minute Opening Range.
Drawing Window: The lines are intentionally drawn starting from the 6th minute (after the range is fully established) and extend up to the 60th minute of the trading session. This ensures the lines are available to guide trades for the first hour after the opening volatility subsides.
Labeling: It includes a "5min ORB" text label placed near the high line, clearly identifying the range.
BY Henry J
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.