Opening Range Breakout ORB
- Experts
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Pol Lazaro Porta
Algorithmic trader with over 10 years of experience trading CFDs. - Version: 1.0
- Activations: 5
ORB (Opening Range Breakout) is an Expert Advisor for MQL5 designed to capitalize on one of the most extensively researched intraday trading concepts: the Opening Range Breakout.
Its philosophy is simple: define the market's initial balance during the opening minutes of the session and trade only when price demonstrates genuine directional commitment.
Rather than chasing random price movements, ORB is built around a market behaviour that has been widely documented in quantitative trading research, particularly in highly liquid and volatile instruments such as the NASDAQ100.
Built on quantitative evidence
The Opening Range Breakout is one of the most extensively studied concepts in intraday trading.
ORB incorporates different execution approaches supported by quantitative research, allowing traders to choose between the classic breakout of the opening range or the direction of the opening candle, both of which have been analysed in numerous academic and professional studies.
The system transforms a statistical market behaviour into fully objective and repeatable trading rules.
Simple and objective entries
Every trading session begins by automatically defining the Opening Range.
From that point onward, the Expert Advisor patiently waits for confirmation before entering the market, avoiding anticipation and limiting execution to high-quality opportunities.
Every decision follows predefined mechanical rules, ensuring consistency and complete objectivity.
Professional risk management
ORB includes a comprehensive risk management framework suitable for different trading styles.
Main features include:
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Opening Range Stop Loss.
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ATR-based Stop Loss.
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Fractal-based structural Stop Loss.
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Fixed lot or percentage risk position sizing.
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Automatic Break-Even.
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Multiple Take Profit models.
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Maximum risk protection.
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Automatic end-of-session closing.
Every trade is executed with full knowledge of the predefined risk.
Flexible by design
Although ORB has been developed with indices such as the NASDAQ100 in mind, every aspect of the strategy is configurable.
Opening Range duration, filters, risk management, Stop Loss models, profit targets and trading sessions can all be customized to suit different markets and trading styles.
Complete transparency
All trading decisions are calculated exclusively using information available at the close of each candle.
This guarantees:
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No Look-Ahead Bias.
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No Repainting.
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Consistent behaviour between backtesting and live trading.
Transparency and reproducibility are fundamental principles of the system.
Rules, not predictions
ORB does not attempt to predict market direction.
Instead, it waits for the market to reveal its intention after the opening auction and executes trades according to predefined, objective and repeatable rules.
Its strength lies in disciplined execution and in exploiting one of the market's best-known statistical behaviours.
Key Features-
Based on the Opening Range Breakout methodology.
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Built on quantitative research.
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Two configurable entry modes.
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Professional money management.
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Structural and volatility-based Stop Loss.
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Automatic Break-Even.
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Multiple exit models.
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Automatic end-of-session closing.
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Fully configurable.
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No Repainting.
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No Look-Ahead Bias.
Disclaimer
Past performance does not guarantee future results.
It is strongly recommended to test the Expert Advisor on a demo account before trading with real funds. Trading financial markets involves risk, and every trader is solely responsible for their own investment decisions.
