Opening Range Breakout Visualizer
- Indicatori
- Vishnu Bajpai
- Versione: 1.4
- Attivazioni: 20
Opening Range Visualizer, An Institutional Breakout Indicator – MQL5 (Multi-Timeframe Opening Range Strategy)
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Designed specifically for fast moving index markets such as NASDAQ / USTEC, ORV MTF is a precision opening range breakout indicator built for traders who require clean, objective entries without lagging signals. It automatically identifies the
Opening range Visualizer identifies a session opening range and marks the first confirmed breakout using a lower-timeframe candle close outside the range.
The tool does not predict price direction and does not generate signals from oscillators or probability models.
It is a rule-based visualization and signal framework designed to help traders objectively identify when price leaves a defined range.
Trading Logic
The indicator follows a structured multi-timeframe process:
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A higher timeframe defines the opening range (example: M5)
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A lower timeframe confirms the breakout (example: M1 candle close outside range)
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Only the first confirmed breakout after range formation is marked
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Expansion projection levels are plotted for reference
This creates a consistent and repeatable method for observing breakout conditions.
What The Indicator Does
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Detects session opening range
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Draws the range box automatically
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Waits for candle close confirmation outside the range
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Prints a single Buy or Sell signal
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Displays projected expansion levels
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Repeats the logic for historical sessions for study
No manual drawing is required.
Key Features
Non-Repainting Signals
Signals are generated only after candle close confirmation and do not move or disappear afterward.
Multi-Timeframe Confirmation
Range timeframe and confirmation timeframe can be configured independently.
First Breakout Filter
Only the first breakout after range formation is marked to avoid multiple signals within the same session.
Expansion Projection Levels
Reference levels are plotted automatically to help traders structure exits.
Session-Based Operation
Fully customizable session start and end time for any symbol or broker server time.
Historical Visualization
Displays previous session ranges for analysis and backtesting observation.
Clean Chart Output
No oscillators or panels — only range and breakout information.
Typical Usage
Commonly applied in:
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Intraday trading
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Breakout observation
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Session-open momentum analysis
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Manual trade planning
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EA signal filtering
Works on any symbol and timeframe supported by MetaTrader 5.
Inputs
Timeframes
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Range timeframe
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Confirmation timeframe
Session Settings
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Session start time
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Session end time
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Number of historical days
Strategy Parameters
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Projection levels
Visual Settings
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Range box style
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Target line styling
Concept
The indicator identifies when price leaves a defined range and confirms acceptance outside that range using candle close logic.
Because signals require confirmation, the indicator may not mark every price spike or wick outside the range.
Suitable For
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Manual traders
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Price action traders
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Intraday traders
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Strategy developers
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EA filtering systems
Technical Information
Platform: MetaTrader 5
Type: Chart Window Indicator
Buffers: Buy / Sell signal buffers
Objects: Range box + projection levels
Repainting: No (signals generated after candle close)
Operation: Real-time
Important
This indicator is an analytical tool and does not guarantee profits or trading performance.
Trading financial markets involves risk. The indicator only visualizes conditions based on its programmed rules and should be used together with proper risk management.
Summary
Pro ORB MTF provides a structured method to observe opening range breakouts using confirmed candle closes and multi-timeframe logic.
It helps traders consistently identify breakout conditions without manual chart marking.
A rule-based breakout observation tool for traders who prefer objective execution criteria.
