ORB Strategy Professional Final

ORB (Opening Range Breakout) Strategy Guide – Updated Outline
Overview
I asked this script to be programmed based on my parameters and strategy. Feel free to utilize it.
A structured approach to trading the Opening Range Breakout (ORB) strategy, emphasizing:

Confirmation-based entries

Time-based high-probability setups

Contextual filters for directional bias

Robust risk management and scaling protocols

ORB Entry Criteria
A. Identify the Opening Range (ORB)

Define the ORB using the session’s initial breakout (up or down).

B. Confirm the Breakout Direction

Wait for a 5-minute candle close in the direction of the breakout.

Alternatively, use candlestick confirmation, such as the 3-bar play.

C. Optional Entry Confirmations

Magic 8 Ball Algo – Adds confidence to directional entries.

Gamma Levels – Identify potential support/resistance zones.

Context Filter: 200 SMA (5-Minute Chart)
Use the 200-period Simple Moving Average (SMA) to validate trade direction:

Price above 200 SMA → Favor long trades.

Price below 200 SMA → Favor short trades.

If signal suggests short, but price is above the 200 SMA, wait for a third confirmation candle before entry.

I had the please of working with SpeedEdge_Securities who kind enogh to program it feel free to contact them.

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