PumpC Opening Range Breakout (ORB) 5min Range

25 apr

📄 PumpC ORB 5-Minute Opening Range Breakout Indicator

✨ Overview
The PumpC ORB 5-Minute Opening Range Breakout indicator captures early session price action by tracking the high, low, and open of a defined 5-minute window at market open (customized for Futures or Stocks).
It plots breakout levels, extension targets, average range calculations, volume tracking, and provides visual and table-based data summaries.
This indicator is designed for traders seeking a complete, clean visualization of Opening Range Breakouts (ORB) with flexible customization.

⚙️ Main Features

• Opening Range Box (ORB Box)Draws a box around the high and low of the first 5-minute session (8:30–8:35 ET for Futures, 9:30–9:35 ET for Stocks). Box extends from the session open to the session close (4:00 PM ET). Option to enable/disable historical boxes. Box color and opacity are customizable.
• Core ORB Levels Open Level: Plots the open price of the 5-minute ORB window. ORB Levels: Plots breakout levels at multiples: +0.5x the range +1.5x the range (customizable factor) Each level has independent color settings and visibility toggles. Option to show or hide historic extension levels.
• Table DisplayCompact table in the top-right corner showing: ORB ATR (average range) ORB ATR in ticks Today's ORB range ORB Volume ATR (average volume during ORB) Today's ORB Volume Volume is formatted automatically into "K" (thousands) or "M" (millions) for readability.
• Background HighlightsAfter the ORB window closes: Blue highlight if today's ORB range is greater than the 10-day ATR average. Orange highlight if today's ORB range is smaller than the 10-day ATR average. Helps quickly assess relative strength or weakness compared to historical behavior.
• Alerts
  • Breakout Confirmations: Fires when price closes above ORB High or below ORB Low.
  • Fallout Traps: Alerts when price wick crosses ORB High/Low but closes back inside the range.
  • Alerts use clean titles and simple messages for easy identification.

🔧 Inputs and Customization

• Mode Toggle: Choose between Futures (8:30 ET open) or Stocks (9:30 ET open).
• Show/Hide Labels: Control label visibility for ORB and extension levels.
• Line Width Control: Customize thickness for ORB lines and extension levels.
• ORB Level Level Visibility: Independently enable or disable each extension line.
• Table Appearance: Customize table background color, font color, and padding.
• ORB Box Settings: Customize box color and control whether historical boxes are drawn.

📚 How to Use

• Select Mode: Choose Futures or Stocks depending on your instrument.
• Observe the Opening Range: Focus on the ORB High and ORB Low during the first 5 minutes after the open.
• Monitor Breakouts: Breakout alerts will fire when price closes outside the ORB range, signaling potential continuation.
• Watch for Fallout Traps: Fallout alerts signal when price briefly wicks above/below but closes back inside the ORB range.
• Use Table Metrics: Instantly compare today's ORB range and volume versus historical averages to assess session strength or weakness.

🛡️ Notes

• Best used on the 1-minute or 5-minute chart for intraday trading.
• Ensure your TradingView chart time zone is set to New York for correct functioning.
• Alerts must be manually configured after adding the indicator to your chart.

7 giorni fa

Note di rilascio

📢 1. Alert Condition Upgrade — Breakouts Only from Inside ORB
Before:

Alerts triggered on any candle that closed beyond the ORB High or Low, even if price was already outside the range.
After (Improved):

Alerts now only trigger when a breakout starts from inside the ORB range and then closes beyond the ORB High or Low.
Ensures the previous candle (close[1]) was contained within the ORB boundaries before confirming a breakout.
This prevents repeated or invalid breakout alerts and improves signal quality for actual ORB breakouts.
🎨 2. ORB 8:30 Bar Background Highlight — Inputs for On/Off and Custom Colors
Before:

Background highlight automatically colored the 8:30am candle blue (if ORB > ATR) or orange (if ORB < ATR), with no user control.
After (Improved):

Added user inputs to enable/disable the highlight.
Added user inputs to customize the color for strong ORB bars (ORB > ATR) and weak ORB bars (ORB < ATR).
Kept it compact with a single line implementation to match your coding style.
Gives users complete visual control while keeping the chart clean.