Opening Range with Breakouts & Targets + Retest Alerts

19 Tem

Opening Range with Breakouts & Targets + Retest Alerts

Opening Range Breakout strategy with custom sessions, breakout signals, dynamic targets, and smart retest alerts. Perfect for intraday traders seeking precision entries and high-probability setups.

This advanced ORB tool brings precision and flexibility to your trading by combining the Opening Range Breakout concept with retest confirmation, dynamic target projections, and custom session control.

Why Traders Love This Script
✅ High-Probability Setups – Breakouts with confirmation retests are statistically stronger.
✅ Custom Session Flexibility – Adapt the opening range to any market (Stocks, Forex, Crypto).
✅ Dynamic Targets – Automatically projected based on range size for clear profit objectives.
✅ Smart Alerts – Never miss a breakout retest opportunity with Unified Alert Conditions.

Features You’ll Get
✔ Opening Range Box – Marks the range for your selected timeframe or custom session.
✔ Breakout Arrows – Instant visual confirmation of bullish and bearish breakouts.
✔ Daily Bias Filter – Optional directional filter for higher accuracy.
✔ Dynamic Targets – Adaptive or extended display of projected targets.
✔ Retest Detection – Alerts when price retests the breakout zone after a breakout.
✔ Full Customization – Colors, text size, line styles, target styles, and more.

How to Use It
Set Your Opening Range – Default: 30 minutes after session open or choose a custom range.
Look for Breakouts – Signals appear when price closes beyond the range.
Wait for Retest – For higher confidence, enter on retest signals (green/red dots).
Manage Risk with Targets – Use dynamic target levels to plan your exits.

Pro Tip
Combine this indicator with EMA trend filters, VWAP, or volume confirmation for maximum precision.

Alerts
✅ Unified Break & Retest Alert – Fires when price successfully retests after a breakout, signaling a potential high-probability trade.

⚠ Disclaimer: This tool is for educational purposes only. Always use proper risk management and confirm with your own analysis before trading.

6 gün önce

Sürüm Notları

📋 DESCRIPTION Overview

This all-in-one indicator combines three proven concepts for precision trading:
✔ Opening Range Breakouts (ORB)
✔ Retest Confirmation Signals
✔ ATR-Based Dynamic Stop Loss Levels

Whether you are an intraday trader looking for early-session breakouts or a swing trader seeking strong continuation moves, this tool helps you identify high-probability setups and manage risk effectively.

✅ Features
1. Opening Range Breakouts
Automatically plots the Opening Range (customizable session/timeframe).
Breakout arrows for price crossing OR High/Low.
Optional daily bias filter.
Candle color filter for cleaner signals.

2. Retest Confirmation
Detects retests after breakout for safer entries.
Optional close-confirmation toggle.
Retest dots for easy visual confirmation.

3. ATR Stop Loss Finder
Plots dynamic ATR-based stop levels above/below price.
Fully adjustable:
ATR Length
Multiplier
Smoothing (RMA, SMA, EMA, WMA)
Toggle ATR lines on/off for a clean chart.
Perfect for risk and position management.

🔔 Alerts
Unified Breakout Alert (Up & Down)
Unified Retest Alert
(Optional) Add ATR stop-hit alerts for automated exit notifications.

📈 How to Trade
Set your Opening Range (e.g., first 15 mins of NY session).
Wait for breakout arrow confirmation.
Enter on breakout or retest (depending on your strategy).
Use ATR lines for dynamic stop loss placement.

🛠 Inputs
Opening Range: Session, timeframe, styling.
Breakout Signals: Filters & color options.
Retest Settings: Lookback, close-confirmation toggle.
ATR Settings: Length, multiplier, smoothing, visibility.
Styling: Custom colors for OR box, targets, ATR lines.

🎯 Who is this for?
Day Traders → Capture session volatility with ORB.
Swing Traders → Combine OR breakouts with higher timeframe bias.
Risk-Conscious Traders → Manage stops with ATR dynamically.

🔥 Why use this?
Instead of juggling multiple indicators, get trend confirmation, entry triggers, and risk management all in one clean, customizable script.

✅ Combine with higher timeframe analysis for maximum accuracy.
✅ Works across Forex, Crypto, Indices, Gold, Oil, and more.