OPEN-SOURCE SCRIPT
ORB with Golden Zone FIB targets, Any Timeframe by TenAMTrader
Description:
This indicator is designed to help traders identify key price levels using Fibonacci extensions and retracements based on the Opening Range Breakout (ORB). The levels are visualized as “Golden Zones”, which can serve as potential targets for trades.
Features:
Customizable ORB Timeframe: By default, the ORB is set from 9:30 AM to 9:45 AM EST, but any timeframe can be configured in the settings to fit your trading style.
Golden Zones as Targets: Fibonacci levels are intended to be used as potential profit-taking zones or areas to monitor for reversals, providing a structured framework for intraday and swing trading.
Adjustable Chart Settings: Color-coded levels make it easy to interpret at a glance, and all lines can be customized for personal preference.
Versatile Application: The indicator works across any timeframe, enabling traders to analyze both intraday and multi-day price action.
How to Use:
Ensure Regular Trading Hours (RTH) is enabled on your chart for accurate level calculation.
Observe price action near Golden Zones: a confirmed breakout may indicate continuation, while a pullback could signal a reversal opportunity.
Use the Golden Zones as reference targets for managing risk and planning exits.
Adjust the ORB timeframe and display settings to match your preferred trading style.
Legal Disclosure:
This indicator is provided for educational purposes only and is not financial advice. Trading carries a substantial risk of loss. Users should always perform their own analysis and consult a licensed financial professional before making any trading decisions. Past performance is not indicative of future results.
This indicator is designed to help traders identify key price levels using Fibonacci extensions and retracements based on the Opening Range Breakout (ORB). The levels are visualized as “Golden Zones”, which can serve as potential targets for trades.
Features:
Customizable ORB Timeframe: By default, the ORB is set from 9:30 AM to 9:45 AM EST, but any timeframe can be configured in the settings to fit your trading style.
Golden Zones as Targets: Fibonacci levels are intended to be used as potential profit-taking zones or areas to monitor for reversals, providing a structured framework for intraday and swing trading.
Adjustable Chart Settings: Color-coded levels make it easy to interpret at a glance, and all lines can be customized for personal preference.
Versatile Application: The indicator works across any timeframe, enabling traders to analyze both intraday and multi-day price action.
How to Use:
Ensure Regular Trading Hours (RTH) is enabled on your chart for accurate level calculation.
Observe price action near Golden Zones: a confirmed breakout may indicate continuation, while a pullback could signal a reversal opportunity.
Use the Golden Zones as reference targets for managing risk and planning exits.
Adjust the ORB timeframe and display settings to match your preferred trading style.
Legal Disclosure:
This indicator is provided for educational purposes only and is not financial advice. Trading carries a substantial risk of loss. Users should always perform their own analysis and consult a licensed financial professional before making any trading decisions. Past performance is not indicative of future results.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.