Opening Range Breakout [Claude Ai] For ThinkOrSwim

[Risktk1r]

I ask Claude Ai to write this script. If all conditions are met by 10:00am, the indicator will be above 0 (1) and trigger the alert. You would need to have a chart open with the script installed. Cannot say how well it works yet, just got it working today (4/1/26)

# Opening Range Breakout (ORB) Study
# Conditions:
#   1. Price breaks above 30-min Opening Range High (9:30–10:00 AM EST)
#   2. Breakout bar volume >= 1.5x avg volume of opening range
#   3. Price is above VWAP
#   4. Time is within first 2 hours of session (before 11:30 AM EST)
#   5. (Refinement) Breakout bar closes in TOP 50% of its range
#
# Compatible with 1-min, 5-min, and 15-min charts
# ============================================================



# ─────────────────────────────────────────────
# INPUTS
# ─────────────────────────────────────────────
input showORHLine      = yes;   # Toggle OR High horizontal line
input showLabels       = yes;   # Toggle info labels
input volumeMultiplier = 1.5;   # Volume threshold vs OR average

# ─────────────────────────────────────────────
# SESSION / TIME DEFINITIONS
# ─────────────────────────────────────────────
def marketOpen    = 0930;   # 9:30 AM EST
def orEnd         = 1000;   # 10:00 AM EST (end of opening range)
def sessionCutoff = 1600;   # 11:30 AM EST (2-hour mark, alerts stop)

def isORWindow    = SecondsFromTime(marketOpen) >= 0
                    and SecondsTillTime(orEnd) > 0;

def isAlertWindow = SecondsFromTime(marketOpen) >= 0
                    and SecondsTillTime(sessionCutoff) > 0;

# ─────────────────────────────────────────────
# OPENING RANGE HIGH & VOLUME
# ─────────────────────────────────────────────

# Track the high of the 9:30–10:00 AM range
def orHigh = HighestAll(if isORWindow then high else Double.NaN);

# Count how many bars are in the opening range window
def orBarCount = TotalSum(if isORWindow then 1 else 0);

# Sum volume during the OR window
def orVolSum   = TotalSum(if isORWindow then volume else 0);

# Average volume per bar during OR
def orAvgVol   = if orBarCount > 0 then orVolSum / orBarCount else 1;

# ─────────────────────────────────────────────
# VWAP
# ─────────────────────────────────────────────
def vwap = reference VWAP();

# ─────────────────────────────────────────────
# BREAKOUT CONDITIONS
# ─────────────────────────────────────────────

# 1. Price closes ABOVE the OR high (breakout confirmed on close)
def breakoutAboveOR = close > orHigh;

# 2. Current bar volume is >= 1.5x the OR average volume
def highVolume = volume >= volumeMultiplier * orAvgVol;

# 3. Price is above VWAP
def aboveVWAP = close > vwap;

# 4. Within the first 2 hours of the session (before 11:30 AM)
def withinWindow = isAlertWindow;

# 5. Refinement: Breakout bar closes in the TOP 50% of its range
#    (confirms strong buying pressure — not just a poke above)
def barRange      = high - low;
def midpoint      = low + barRange * 0.5;
def topHalfClose  = close >= midpoint;

# ─────────────────────────────────────────────
# ALL CONDITIONS MET
# ─────────────────────────────────────────────
def allConditions = breakoutAboveOR
                    and highVolume
                    and aboveVWAP
                    and withinWindow
                    and topHalfClose;

# Fire once per bar (not re-trigger mid-bar)
def alertTrigger = allConditions and !allConditions[1];

# ─────────────────────────────────────────────
# VISUALS — OR HIGH HORIZONTAL LINE
# ─────────────────────────────────────────────
plot ORHighLine = if showORHLine and orHigh > 0 then orHigh else Double.NaN;
ORHighLine.SetDefaultColor(Color.YELLOW);
ORHighLine.SetLineWeight(2);
ORHighLine.SetStyle(Curve.SHORT_DASH);
ORHighLine.HideBubble();
ORHighLine.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);

# ─────────────────────────────────────────────
# VISUALS — BREAKOUT SIGNAL ARROW
# ─────────────────────────────────────────────
plot BreakoutSignal = if alertTrigger then low - TickSize() * 5 else Double.NaN;
plot AlertPlot = if alertTrigger then 1 else 0;
BreakoutSignal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
BreakoutSignal.SetDefaultColor(Color.GREEN);
BreakoutSignal.SetLineWeight(3);
BreakoutSignal.HideBubble();

# ─────────────────────────────────────────────
# VISUALS — BACKGROUND HIGHLIGHT
# ─────────────────────────────────────────────
AssignBackgroundColor(if allConditions then Color.DARK_GREEN else Color.CURRENT);

# ─────────────────────────────────────────────
# LABELS
# ─────────────────────────────────────────────
AddLabel(showLabels and orHigh > 0,
    "OR High: " + AsPrice(orHigh),
    Color.YELLOW);

AddLabel(showLabels,
    "Vol vs OR Avg: " + Round(volume / orAvgVol, 2) + "x",
    if highVolume then Color.GREEN else Color.GRAY);

AddLabel(showLabels,
    "VWAP: " + AsPrice(vwap),
    if aboveVWAP then Color.GREEN else Color.RED);

AddLabel(showLabels,
    if withinWindow then "IN Window (<11:30)" else "OUT of Window",
    if withinWindow then Color.GREEN else Color.GRAY);

AddLabel(showLabels and allConditions,
    "[B]* ORB SETUP ACTIVE *[/B]",
    Color.GREEN);

# ─────────────────────────────────────────────
# ALERT
# ─────────────────────────────────────────────
# ─────────────────────────────────────────────
# ALERT
# ─────────────────────────────────────────────
Alert(alertTrigger,
    "ORB BREAKOUT - Check Symbol, Price, and Volume",
    Alert.BAR,
    Sound.Ding);