OPEN-SOURCE SCRIPT
Opening Range Breakout (ORB)
This is an Opening Range Break indicator. Best if used on a 5 minute chart. It plots the opening 30 minutes high and low of a ticker. (meaning mostly for stocks, options, etfs) and then it alerts a buy signal upon break of opening high and a sell signal upon break of opening low. This is a day trading type of indicator and there is a new opening range everyday.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. You can favorite it to use it on a chart.
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