ORB-5Min + Adaptive 12/48 EMA + PDH/PDL

Overview:
This indicator combines the 5-Minute Opening Range Breakout (ORB), Adaptive 12/48 Exponential Moving Averages (EMAs), and Previous Day High/Low (PDH/PDL) levels to help traders identify key intraday levels and market trends.

Key Components and Logic:

5-Minute Opening Range Breakout (ORB):

• Displays the high and low from the first 5-minute candle of the trading session.
  

• Includes customizable opacity for the range fill.
  

• Helps traders spot breakout opportunities and key support/resistance zones.
  

Adaptive 12/48 EMA System:

• Displays EMAs for 9, 12, 48, and 200 periods.
  
• The 12 EMA changes color based on whether the price is entirely above or below it.
  

• The 48 EMA changes color depending on its relationship with the 12 EMA.
  

• Provides dynamic trend identification and potential entry/exit signals.
  

Previous Day High/Low (PDH/PDL):

• Displays the previous day’s high and low levels.
  

• Useful for tracking key intraday support/resistance levels and potential reversal points.
  

Summary:
This script stands out by blending three popular intraday tools into a single comprehensive indicator. The combined visualization provides a layered market context that assists traders in making informed decisions quickly. The color-adaptive EMAs add clarity to trend direction, while the ORB and PDH/PDL levels highlight significant price zones for breakout or reversal trades.

How to Use:

Breakout Trades: Watch for price breaks above the ORB high or below the ORB low, especially when supported by EMA trends.

Trend Confirmation: Use the color-adaptive 12/48 EMA system to gauge momentum and market direction.

Reversal or Continuation: Observe how price reacts around PDH/PDL levels, especially if confluence with EMAs occurs.

This indicator is suitable for day traders seeking a clear and efficient way to track market structure, identify trends, and spot potential trade opportunities during regular market hours.