ORB Strategy - NY Market

### **ORB Strategy - NY Market (Final Optimized Version)**

#### **📌 Description**
The **Opening Range Breakout (ORB) Strategy** is a powerful intraday trading tool designed to identify market trends based on the first few minutes of trading. This indicator is optimized for the **New York Stock Exchange (NYSE)** and enables traders to capture high-probability breakout trades with precise stop-loss and take-profit levels.

#### **🔹 Key Features:**
✅ **ORB Session Customization** – Set your preferred ORB duration (default: 9:30 AM - 10:00 AM EST).
✅ **Session-Based ORB Levels** – Resets daily to prevent previous-day interference.
✅ **Accurate ORB Calculation** – Captures the high & low of the defined ORB session.
✅ **Timeframe Visibility Control** – Choose which timeframes display ORB levels.
✅ **Breakout Confirmation** – Uses **volume filters** to validate trade entries.
✅ **Stop-Loss & Take-Profit Integration** – Automatically calculates SL & TP using a **Risk-Reward ratio**.
✅ **Alerts & Signals** – Get notified when a breakout occurs!

#### **📈 How It Works:**
1. **ORB Detection:**
- The indicator marks the **High & Low** of the **first 30 minutes** after market open (default).
- These levels serve as key breakout zones.

2. **Breakout Confirmation:**
- A **long entry** occurs when price breaks **above** the ORB high with strong volume.
- A **short entry** occurs when price breaks **below** the ORB low with strong volume.

3. **Risk Management:**
- The indicator automatically calculates **Stop-Loss (SL) & Take-Profit (TP)** based on a **Risk-Reward Ratio (default: 1:2)**.

4. **Alerts & Signals:**
- The script provides **entry signals** with visual markers and **alert notifications** for breakouts.

#### **📊 Ideal For:**
✅ **Intraday Traders & Scalpers** – Capitalize on early market momentum.
✅ **Breakout Traders** – Identify high-probability trade setups.
✅ **Stock & Index Traders** – Works well on **S&P 500, NASDAQ, and major stocks**.

This ORB strategy helps traders **filter noise, enter high-probability trades, and manage risk efficiently**. 🚀📉📈

Let me know if you need any modifications! 😊