Advanced ORB Indicator MT5
- Indicatori
- Tola Moses Hector
- Versione: 1.1
- Attivazioni: 6
Advanced ORB MT5
Advanced ORB Indicator MT5 - Opening Range Breakout Analysis Tool
Professional Opening Range Breakout indicator with customizable session times, multiple target levels, breakout detection, historical ranges, and real-time dashboard. Visual alerts, auto-extending zones. Complete ORB analysis for MT5.
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ADVANCED ORB INDICATOR MT5 - OPENING RANGE BREAKOUT
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Professional Opening Range Breakout (ORB) indicator for identifying high-probability breakout opportunities. Trade the opening range with institutional precision and visual clarity.
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🎯 KEY FEATURES
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✅ OPENING RANGE DETECTION:
• Customizable session start time (any hour/minute)
• Adjustable range duration (5-240 minutes)
• Automatic high/low detection
• Real-time range formation tracking
• Range size calculation (points/pips)
✅ BREAKOUT LEVELS:
• Adjustable breakout buffer (points)
• Bullish breakout level (above high)
• Bearish breakout level (below low)
• Auto-extending into future
• Color-coded visualization
✅ MULTIPLE TARGET LEVELS:
• Target 1 - Customizable R:R ratio
• Target 2 - Customizable R:R ratio
• Target 3 - Customizable R:R ratio
• Target 4 - Customizable R:R ratio (optional)
• Target 5 - Customizable R:R ratio (optional)
• All targets based on range size
✅ HISTORICAL RANGES:
• Show previous day ranges
• Display up to 30 days history
• Color-coded past ranges
• Historical breakout markers
• Performance tracking
✅ VISUAL ELEMENTS:
• Range box with fill
• High/Low lines
• Breakout trigger lines
• Target level lines
• Price labels on all levels
• Midpoint line (optional)
• Customizable colors
• Adjustable line widths
• Transparency control
✅ REAL-TIME DASHBOARD:
• Session status (Forming/Active/Waiting)
• Current ORB high/low
• Range size in points/pips
• Breakout status
• Target hit indicators
• Session start/end times
• Trading mode display
• Customizable position
✅ BREAKOUT DETECTION:
• Automatic bull/bear detection
• Visual breakout markers
• Directional arrows
• Color-coded signals
• Target progression tracking
✅ ALERT SYSTEM:
• Breakout alerts (bull/bear)
• Target hit alerts (T1-T5)
• Range formation complete
• Sound notifications
• Popup alerts
• Push notifications (mobile)
• Email alerts (optional)
✅ FULL CUSTOMIZATION:
• All colors adjustable
• Line styles and widths
• Transparency settings
• Label font sizes
• Enable/disable any feature
• Multiple display modes
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📊 WHAT IS OPENING RANGE BREAKOUT?
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Opening Range Breakout (ORB) is a time-tested trading strategy that capitalizes on the momentum created when price breaks out of the initial trading range established at market open.
HOW IT WORKS:
1. RANGE FORMATION (First X Minutes)
• Market opens (customizable time)
• Price forms initial range
• High and low established
• Consolidation period
2. BREAKOUT OCCURS
• Price breaks above high = Bullish
• Price breaks below low = Bearish
• Momentum follows direction
• Trend continuation likely
3. TARGET PROJECTION
• Targets based on range size
• Multiple profit levels
• Risk:Reward optimization
• Progressive exits
WHY ORB WORKS:
• Captures opening volatility
• Clear entry/exit levels
• Defined risk parameters
• High probability setups
• Used by professional traders
• Works across all markets
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⚙️ INPUT PARAMETERS
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OPENING RANGE SETTINGS:
• ORB Duration (5-240 minutes) - Range period
• Session Start Hour (0-23) - Market open hour
• Session Start Minute (0-59) - Precise timing
• Show Previous Ranges - Historical display
• Max History Days (1-30) - History depth
BREAKOUT SETTINGS:
• Breakout Buffer (points) - Entry trigger offset
• Show Breakout Levels - Toggle display
• Bullish Breakout Color - Custom color
• Bearish Breakout Color - Custom color
TARGET LEVEL SETTINGS:
• Target 1 R:R Ratio - First profit level
• Target 2 R:R Ratio - Second profit level
• Target 3 R:R Ratio - Third profit level
• Target 4 R:R Ratio - Fourth profit level (optional)
• Target 5 R:R Ratio - Fifth profit level (optional)
• Show Target Lines - Toggle display
• Target Color - Line color
• Target Line Style - Solid/Dash/Dot
• Target Line Width (1-5) - Thickness
VISUAL SETTINGS:
• Range Box Color - Main color
• Range Fill - Enable/disable fill
• Range Transparency (0-255) - Visual clarity
• High/Low Line Color - Border color
• Line Width (1-5) - Border thickness
• Line Style - Solid/Dash/Dot/DashDot
• Show Labels - Price labels toggle
• Label Font Size (6-14) - Text size
• Show Midpoint - Middle line toggle
DASHBOARD SETTINGS:
• Show Info Panel - Toggle dashboard
• Panel X Position (pixels) - Horizontal
• Panel Y Position (pixels) - Vertical
• Panel Background Color - Custom
• Panel Border Color - Custom
• Panel Text Color - Custom
• Panel Font Size (8-12) - Text size
• Panel Transparency (0-255) - Clarity
ALERT SETTINGS:
• Enable Alerts - Master switch
• Alert on Breakout - Breakout notifications
• Alert on Target Hit - Target notifications
• Sound Alert - Audio notification
• Popup Alert - Screen popup
• Push Notification - Mobile alerts
• Email Alert - Email notifications
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🎓 HOW TO USE
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INSTALLATION:
1. Attach indicator to any chart
2. Set session start time (e.g., 09:30 for NYSE)
3. Set ORB duration (30-60 min recommended)
4. Configure target levels
5. Adjust colors and transparency
6. Enable desired alerts
TRADING WORKFLOW:
📅 BEFORE SESSION:
• Mark previous day ranges
• Note key support/resistance
• Plan potential scenarios
🕐 DURING RANGE FORMATION:
• Monitor high/low updates
• Watch for range compression
• Prepare entry orders
• Check dashboard status
📈 BREAKOUT PHASE:
• Wait for clean breakout
• Confirm buffer penetration
• Enter in breakout direction
• Set stop beyond range
🎯 TARGET MANAGEMENT:
• Scale out at each target
• Trail stops as targets hit
• Lock in profits progressively
• Monitor dashboard for hits
BEST PRACTICES:
• Use on liquid instruments (major pairs, indices)
• Align with higher timeframe trend
• Avoid news events during range
• Wait for range completion
• Respect buffer zones
• Use proper position sizing
RECOMMENDED SETTINGS BY MARKET:
FOREX (24hr):
• Session: 00:00 GMT, 08:00 GMT, or 13:00 GMT
• Duration: 60 minutes
• Targets: 2R, 3R, 4R
US STOCKS:
• Session: 09:30 EST
• Duration: 30 minutes
• Targets: 1.5R, 2.5R, 3.5R
INDICES:
• Session: Market open time
• Duration: 30-60 minutes
• Targets: 2R, 4R, 6R
COMMODITIES (Gold, Oil):
• Session: 09:00 EST
• Duration: 60 minutes
• Targets: 2R, 3R, 5R
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📈 COMPATIBLE TIMEFRAMES
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Works on ALL timeframes:
• M1 - Ultra-fast ranges
• M5 - Quick ORB setups
• M15 - Standard intraday
• M30 - Longer ranges
• H1 - Multi-session view
• H4, D1 - Historical analysis
RECOMMENDED: M5, M15, M30 for ORB trading
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💡 ADVANTAGES
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✅ Clear Entry/Exit Levels - No guesswork
✅ Defined Risk - Stop loss clear
✅ Multiple Targets - Profit scaling
✅ Visual Clarity - Clean display
✅ Historical View - Learn patterns
✅ Real-Time Updates - Live tracking
✅ Alert System - Never miss setups
✅ Customizable - Full control
✅ Professional Grade - Institutional tool
✅ All Markets - Universal application
✅ Non-Repainting - Historical integrity
✅ Dashboard Stats - Quick overview
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🎨 VISUAL DISPLAY
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The indicator displays:
• 📦 Blue box - Current opening range
• 📏 Solid lines - ORB high/low
• ⬆️ Green dashed - Bullish breakout level
• ⬇️ Red dashed - Bearish breakout level
• 🎯 Gold dotted - Target levels (T1-T5)
• 🏷️ Labels - Price values on all levels
• 📊 Dashboard - Real-time statistics
• 📅 Gray boxes - Historical ranges
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🏆 PERFECT FOR
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• Day traders
• Breakout traders
• Momentum traders
• Session traders
• Scalpers (short ORB)
• Swing traders (long ORB)
• Multi-market traders
• Systematic traders
• All experience levels
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⚠️ IMPORTANT NOTES
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• This is an INDICATOR (analysis tool)
• Does NOT place trades automatically
• For manual trading decisions
• Requires interpretation and discipline
• Best used with trading plan
• Always use risk management
• Test settings on demo first
• Adjust to your market's characteristics
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📧 SUPPORT & UPDATES
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• Comprehensive documentation
• Support via MQL5 messages
• Feature requests welcome
• Active development
• Regular improvements
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💼 PROFESSIONAL USAGE TIPS
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RISK MANAGEMENT:
• Risk 1-2% per trade
• Stop loss beyond range
• Scale out at targets
• Move stop to breakeven at T1
ENTRY STRATEGIES:
• Breakout + retest entry
• Immediate breakout entry
• Wait for buffer confirmation
• Use pending orders
EXIT STRATEGIES:
• Partial close at each target
• Trail stop as targets hit
• Full exit at final target
• Time-based exit if ranging
FILTERS:
• Use with trend filter
• Check volatility
• Avoid major news
• Confirm volume
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