Opening Range Breakout Indicator for ThinkorSwim

[Zlotko]

I like to trade ES and like pre-market and after-hour market. Will that not work if I do not Disable pre-market and after-hour market?

 

[cando13579]

I like to trade ES and like pre-market and after-hour market. Will that not work if I do not Disable pre-market and after-hour market?

it will work ,what i did is ,added the script twice and left one as is and changed the other to Asia opening time. hope this helps.

 

[jenn21dw]

I have added your script but it doesn't look like your screenshots, any ideas why?

 

[useThinkScript]

I have added your script but it doesn't look like your screenshots, any ideas why? View attachment 24103

Good news!
Yes, that is the layout for the opening range breakout.
Except:

• Disable pre-market and after-hour market

 

[CASTI1313]

I need help with several indicators I have been using them for a short time and I have a hard time understanding them.PC

I also want to know from these indicators the white support and the short ok I know it is a PUT but the point that comes out that means

http://tos.mx/!xke7riG8

This indicator is what I need to understand.

 

[useThinkScript]

View attachment 24462
I need help with several indicators I have been using them for a short time and I have a hard time understanding them.PC

View attachment 24463
View attachment 24464
I also want to know from these indicators the white support and the short ok I know it is a PUT but the point that comes out that means

http://tos.mx/!xke7riG8

This indicator is what I need to understand.

This is the Opening Range Breakout Strategy
You will find that the 12 pages in this thread discuss in-depth its use.
Keep this in mind:
https://usethinkscript.com/threads/...dicator-for-thinkorswim.16/page-9#post-134700


ORB strategies are one of the oldest day trading strategies.
So there is also much discussion of ORBs on the web.

 

[dart966]

Maybe with this compiled additional information from Mobius one can create a great ORB trading strategy:

Looking at Mobius' notes in thinkscript_Cloud, and found this:

Mobius' additional rules for trading ORB:

Advance/Decline Line Indicator (AD)​

Mobius' RSI-L notes:

Mobius' rules for trading Pivots:

Mobius' LRC notes:

Using Monthly POC's as additional support/resistance areas:

Hope this additional info helps!

 

[netarchitech]

Here's exactly what we're going to cover:

• the market open volume report — which tells you if the day will likely be high or low volume based on the opening period
• the opening candle continuation report — which predicts if the day will close green or red based on the first 60 minutes
• the inside bars report — which tells you how likely price is to tag yesterday's high or low
• how to combine these three reports to build a complete trading plan for the day
• real examples showing how this combination creates high-probability setups or warns you to stay out of the market

Source:

https://www.reddit.com/r/technicalanalysis/comments/1jxuy7u

 

[airreyservice1994@hotmail]

Great job to whoever wrote this code. I am not trying to step on any toes here as this is not my code. I edited the ORBI code as follows and it appears to work great with the super trend. Not sure if I did this correctly though. I took code from 2 different places In this thread if i remember. You have to remember to go to the settings of the study and turn on the cloud, alert, and show today only if you are only viewing a "today" chart, then also go to the chart settings in TOS, under equities and adjust to hide or show closed times. I just have not jumped in and started to use it yet. I tried once or twice with $tsla and find it is hard to be quick, so I have to play with my time frames, 2-3 min vs 5 min vs 15 min.

https://imgur.com/a/l1nQsT4

declare Hide_On_Daily;
declare Once_per_bar;

input OrMeanS  = 0930.0; #hint OrMeanS: Begin Mean Period. Usually Market Open EST.
input OrMeanE  = 0935.0; #hint OrMeanE: End Mean period. Usually End of first bar.
input OrBegin  = 0930.0; #hint OrBegin: Beginning for Period of Opening Range Breakout.
input OrEnd    = 1000.0; #hint OrEnd: End of Period of Opening Range Breakout.
input CloudOn  = no;     #hint CloudOn: Clouds Opening Range.
input AlertOn  = yes;    #hint AlertOn: Alerts on cross of Opening Range.
input ShowTodayOnly = {"No", default "Yes"};
input nAtr = 4;          #hint nATR: Lenght for the ATR Risk and Target Lines.
input AtrTargetMult = 2.0; #hint ATRmult: Multiplier for the ATR calculations.

  def h = high;
  def l = low;
  def c = close;
  def bar = barNumber();
  def s = ShowTodayOnly;
  def ORActive = if secondsTillTime(OrMeanE) > 0 and
                    secondsFromTime(OrMeanS) >= 0
                 then 1
                 else 0;
  def today = if s == 0
              or getDay() == getLastDay() and
                 secondsFromTime(OrMeanS) >= 0
              then 1
              else 0;
  def ORHigh = if ORHigh[1] == 0
               or ORActive[1] == 0 and
                  ORActive == 1
               then h
               else if ORActive and
                       h > ORHigh[1]
               then h
               else ORHigh[1];
  def ORLow = if ORLow[1] == 0
              or ORActive[1] == 0 and
                 ORActive == 1
              then l
              else if ORActive and
                      l < ORLow[1]
              then l
              else ORLow[1];
  def ORWidth = ORHigh - ORLow;
  def na = double.nan;
  def ORHA = if ORActive
             or today < 1
             then na
             else ORHigh;
  def ORLA = if ORActive
             or today < 1
             then na
             else ORLow;
  def O = ORHA - Round(((ORHA - ORLA) / 2) / TickSize(), 0) * TickSize();
  def ORActive2 = if secondsTillTime(OREnd) > 0 and
                     secondsFromTime(ORBegin) >= 0
                  then 1
                  else 0;
  def ORHigh2 = if ORHigh2[1] == 0
                  or ORActive2[1] == 0 and
                     ORActive2 == 1
                then h
                else if ORActive2 and
                        h > ORHigh2[1]
                then h
                else ORHigh2[1];
  def ORLow2 = if ORLow2[1] == 0
                or ORActive2[1] == 0 and
                   ORActive2 == 1
               then l
               else if ORActive2 and
                       l < ORLow2[1]
               then l
               else ORLow2[1];
  def ORWidth2 = ORHigh2 - ORLow2;
  def TimeLine = if secondsTillTime(OREnd) == 0
                 then 1
                 else 0;
  def ORmeanBar = if !ORActive and ORActive[1]
                  then barNumber()
                  else ORmeanBar[1];
  def ORendBar = if !ORActive2 and ORActive2[1]
                 then barNumber()
                 else ORendBar[1];
  def ORL = if (o == 0 , na, o);
plot ORLext = if barNumber() >= highestAll(ORmeanBar)
              then HighestAll(if isNaN(c[-1])
                              then ORL[1]
                              else double.nan)
              else double.nan;
     ORLext.SetDefaultColor(color.Yellow);
     ORLext.SetStyle(curve.Long_DASH);
     ORLext.SetLineWeight(3);
     ORLext.HideTitle();
  def ORH2 = if ORActive2
             or today < 1
             then na
             else ORHigh2;
plot ORH2ext = if barNumber() >= highestAll(ORendBar)
               then HighestAll(if isNaN(c[-1])
                               then ORH2[1]
                               else double.nan)
               else double.nan;
     ORH2ext.SetDefaultColor(color.Green);
     ORH2ext.SetStyle(curve.Long_DASH);
     ORH2ext.SetLineWeight(3);
     ORH2ext.HideTitle();
  def ORL2 = if ORActive2
               or today < 1
             then na
             else ORLow2;
plot ORL2ext = if barNumber() >= highestAll(ORendBar)
               then HighestAll(if isNaN(c[-1])
                               then ORL2[1]
                               else double.nan)
               else double.nan;
     ORL2ext.SetDefaultColor(color.Red);
     ORL2ext.SetStyle(curve.Long_DASH);
     ORL2ext.SetLineWeight(3);
     ORL2ext.HideTitle();
  def RelDay = (ORL - ORL2) / (ORH2 - ORL2);
  def dColor = if RelDay > .5
               then 5
               else if RelDay < .5
                    then 6
               else 4;
  def pos = (ORH2 - ORL2)/10;
plot d1 = if (TimeLine , ORH2, na);
plot d2 = if (TimeLine , ORH2 - ( pos * 2), na);
plot d3 = if (TimeLine , ORH2 - ( pos * 3), na);
plot d4 = if (TimeLine , ORH2 - ( pos * 4), na);
plot d5 = if (TimeLine , ORH2 - ( pos * 5), na);
plot d6 = if (TimeLine , ORH2 - ( pos * 6), na);
plot d7 = if (TimeLine , ORH2 - ( pos * 7), na);
plot d8 = if (TimeLine , ORH2 - ( pos * 8), na);
plot d9 = if (TimeLine , ORH2 - ( pos * 9), na);
plot d10 = if (TimeLine ,(ORL2), na);
     d1.SetPaintingStrategy(PaintingStrategy.POINTS);
     d2.SetPaintingStrategy(PaintingStrategy.POINTS);
     d3.SetPaintingStrategy(PaintingStrategy.POINTS);
     d4.SetPaintingStrategy(PaintingStrategy.POINTS);
     d5.SetPaintingStrategy(PaintingStrategy.POINTS);
     d6.SetPaintingStrategy(PaintingStrategy.POINTS);
     d7.SetPaintingStrategy(PaintingStrategy.POINTS);
     d8.SetPaintingStrategy(PaintingStrategy.POINTS);
     d9.SetPaintingStrategy(PaintingStrategy.POINTS);
    d10.SetPaintingStrategy(PaintingStrategy.POINTS);
     d1.AssignValueColor(GetColor(Dcolor));
     d2.AssignValueColor(GetColor(Dcolor));
     d3.AssignValueColor(GetColor(Dcolor));
     d4.AssignValueColor(GetColor(Dcolor));
     d5.AssignValueColor(GetColor(Dcolor));
     d6.AssignValueColor(GetColor(Dcolor));
     d7.AssignValueColor(GetColor(Dcolor));
     d8.AssignValueColor(GetColor(Dcolor));
     d9.AssignValueColor(GetColor(Dcolor));
    d10.AssignValueColor(GetColor(Dcolor));
     d1.HideBubble();
     d2.HideBubble();
     d3.HideBubble();
     d4.HideBubble();
     d5.HideBubble();
     d6.HideBubble();
     d7.HideBubble();
     d8.HideBubble();
     d9.HideBubble();
    d10.HideBubble();
     d1.HideTitle();
     d2.HideTitle();
     d3.HideTitle();
     d4.HideTitle();
     d5.HideTitle();
     d6.HideTitle();
     d7.HideTitle();
     d8.HideTitle();
     d9.HideTitle();
    d10.HideTitle();
addCloud(if CloudOn == yes
         then orl
         else double.nan
       , orl2,createColor(244,83,66), createColor(244,83,66));
addCloud(if CloudOn == yes
         then orl
         else double.nan
       , orh2,createColor(66,244,131), createColor(66,244,131));
# Begin Risk Algorithm
# First Breakout or Breakdown bars
  def Bubbleloc1 = isNaN(close[-1]);
  def BreakoutBar = if ORActive
                    then double.nan
                    else if !ORActive and c crosses above ORH2
                         then bar
                         else if !isNaN(BreakoutBar[1]) and c crosses ORH2
                              then BreakoutBar[1]
                    else BreakoutBar[1];
  def ATR = if ORActive2
  then Round((Average(TrueRange(h, c, l), nATR)) / TickSize(), 0) * TickSize()
  else ATR[1];
  def cond1 =  if h > ORH2 and
                  h[1] <= ORH2
               then Round((ORH2  + (ATR * AtrTargetMult)) / TickSize(), 0) * TickSize()
               else cond1[1];
plot ORLriskUP = if bar >= OREndBar and !ORActive and today
                 then HighestAll(ORH2ext - 2)
                 else double.nan;
     ORLriskUP.SetStyle(Curve.Long_Dash);
     ORLriskUP.SetDefaultColor(Color.Green);
     ORLriskUP.HideTitle();
  def crossUpBar = if close crosses above ORH2
                   then bar
                   else double.nan;
AddChartBubble(bar == HighestAll(crossUpBar), ORLriskUP, "RiskON ORH", color.green, no);
plot ORLriskDN = if bar >= OREndBar and !ORActive and close < ORL
                 then HighestAll(ORL2ext + 2)
                 else double.nan;
     ORLriskDN.SetStyle(Curve.Long_Dash);
     ORLriskDN.SetDefaultColor(Color.Red);
     ORLriskDN.HideTitle();
  def crossDnBar = if close crosses below ORL2ext
                   then bar
                   else double.nan;
AddChartBubble(bar == HighestAll(crossDnBar), HighestAll(ORLriskDN), "Risk ON ORL", color.red, yes);
# High Targets
plot Htarget = if bar >= BreakoutBar
               then cond1
               else double.nan;
     Htarget.SetPaintingStrategy(paintingStrategy.Squares);
     Htarget.SetLineWeight(1);
     Htarget.SetDefaultColor(Color.White);
     Htarget.HideTitle();
AddChartBubble(BubbleLoc1, Htarget, "RO", color.white, if c > Htarget then no else yes);
  def condHtarget2 = if c crosses above cond1
  then Round((cond1 + (ATR * AtrTargetMult)) / TickSize(), 0) * TickSize()
  else condHtarget2[1];
plot Htarget2 = if bar >= BreakoutBar
                then  condHtarget2
                else double.nan;
     Htarget2.SetPaintingStrategy(PaintingStrategy.Squares);
     Htarget2.SetLineWeight(1);
     Htarget2.SetDefaultColor(Color.Plum);
     Htarget2.HideTitle();
AddChartBubble(BubbleLoc1, Htarget2, "2nd T", color.plum, if c > Htarget2
                                                          then no
                                                          else yes);
  def condHtarget3 = if c crosses above condHtarget2
  then Round((condHtarget2 + (ATR * AtrTargetMult)) / TickSize(), 0) * TickSize()
  else condHtarget3[1];
plot Htarget3 = if bar >= BreakoutBar
                then condHtarget3
                else double.nan;
     Htarget3.SetPaintingStrategy(PaintingStrategy.Squares);
     Htarget3.SetLineWeight(1);
     Htarget3.SetDefaultColor(Color.Plum);
     Htarget3.HideTitle();
AddChartBubble(isNaN(C[-1]), Htarget3, "3rd T", color.plum, if c > Htarget3 then no else yes);
  def condHtarget4 = if c crosses above condHtarget3
  then Round((condHtarget3 + (ATR * AtrTargetMult)) / TickSize(), 0) * TickSize()
  else condHtarget4[1];
plot Htarget4 = if bar >= HighestAll(BreakoutBar)
                then condHtarget4
                else double.nan;
     Htarget4.SetPaintingStrategy(PaintingStrategy.Squares);
     Htarget4.SetLineWeight(1);
     Htarget4.SetDefaultColor(Color.Plum);
     Htarget4.HideTitle();
AddChartBubble(BubbleLoc1, Htarget4, "4th T", color.plum, if c > Htarget4 then no else yes);
  def condHtarget5 = if c crosses above condHtarget4
  then Round((condHtarget4 + (ATR * AtrTargetMult)) / TickSize(), 0) * TickSize()
  else condHtarget5[1];
plot Htarget5 = if bar >= BreakoutBar
                then condHtarget5
                else double.nan;
     Htarget5.SetPaintingStrategy(PaintingStrategy.Squares);
     Htarget5.SetLineWeight(1);
     Htarget5.SetDefaultColor(Color.Plum);
     Htarget5.HideTitle();
AddChartBubble(BubbleLoc1, Htarget5, "5th T", color.plum, if c > Htarget5 then no else yes);
# Low Targets
  def cond2 = if L < ORL2 and
                 L[1] >= ORL2
              then Round((ORL2  - (AtrTargetMult * ATR)) / TickSize(), 0) * TickSize()
              else cond2[1];
plot Ltarget =  if bar >= HighestAll(OREndBar)
                then highestAll(if isNaN(c[-1])
                                then cond2
                                else double.nan)
                else double.nan;
     Ltarget.SetPaintingStrategy(PaintingStrategy.Squares);
     Ltarget.SetLineWeight(1);
     Ltarget.SetDefaultColor(Color.White);
     Ltarget.HideTitle();
AddChartBubble(BubbleLoc1, cond2, "RO", color.white, if c < Ltarget
                                                     then yes
                                                     else no);
  def condLtarget2 = if c crosses below cond2
  then Round((cond2 - (AtrTargetMult * ATR)) / TickSize(), 0) * TickSize()
  else condLtarget2[1];
plot Ltarget2 =  if bar >= HighestAll(OREndBar)
                 then highestAll(if isNaN(c[-1])
                                 then condLtarget2
                                 else double.nan)
                 else double.nan;
     Ltarget2.SetPaintingStrategy(PaintingStrategy.Squares);
     Ltarget2.SetLineWeight(1);
     Ltarget2.SetDefaultColor(Color.Plum);
     Ltarget2.HideTitle();
AddChartBubble(BubbleLoc1, condLtarget2, "2nd T", color.plum, if c < condLtarget2
                                                              then yes
                                                              else no);
  def condLtarget3 = if c crosses below condLtarget2
  then Round((condLtarget2 - (AtrTargetMult * ATR)) / TickSize(), 0) * TickSize()
  else condLtarget3[1];
plot Ltarget3 = if bar >= HighestAll(OREndBar)
                then highestAll(if isNaN(c[-1])
                                then condLtarget3
                                else double.nan)
                else double.nan;
     Ltarget3.SetPaintingStrategy(PaintingStrategy.Squares);
     Ltarget3.SetLineWeight(1);
     Ltarget3.SetDefaultColor(Color.Plum);
     Ltarget3.HideTitle();
AddChartBubble(BubbleLoc1, condLtarget3, "3rd T", color.plum, if c < Ltarget3
                                                              then yes
                                                              else no);
  def condLtarget4 = if c crosses condLtarget3
  then Round((condLtarget3 - (AtrTargetMult * ATR)) / TickSize(), 0) * TickSize()
  else condLtarget4[1];
plot Ltarget4 = if bar >= HighestAll(OREndBar)
                then highestAll(if isNaN(c[-1])
                                then condLtarget4
                                else double.nan)
                else double.nan;
     Ltarget4.SetPaintingStrategy(PaintingStrategy.Squares);
     Ltarget4.SetLineWeight(1);
     Ltarget4.SetDefaultColor(Color.Plum);
     Ltarget4.HideTitle();
AddChartBubble(BubbleLoc1, condLtarget4, "4th T", color.plum, if c < Ltarget4
                                                              then yes
                                                              else no);
  def condLtarget5 = if c crosses condLtarget4
  then Round((condLtarget4 - (AtrTargetMult * ATR)) / TickSize(), 0) * TickSize()
  else condLtarget5[1];
plot Ltarget5 = if bar >= HighestAll(OREndBar)
                then highestAll(if isNaN(c[-1])
                                then condLtarget5
                                else double.nan)
                else double.nan;
     Ltarget5.SetPaintingStrategy(PaintingStrategy.Squares);
     Ltarget5.SetLineWeight(1);
     Ltarget5.SetDefaultColor(Color.Plum);
     Ltarget5.HideTitle();
AddChartBubble(BubbleLoc1, condLtarget5, "5th T", color.plum, if c < Ltarget5
                                                              then yes
                                                              else no);
def last = if secondsTillTime(1600) == 0 and
              secondsFromTime(1600) == 0
           then c[1]
           else last[1];
plot LastClose = if Today and last != 0
                 then last
                 else Double.NaN;
     LastClose.SetPaintingStrategy(PaintingStrategy.Dashes);
     LastClose.SetDefaultColor(Color.White);
     LastClose.HideBubble();
     LastClose.HideTitle();
AddChartBubble(SecondsTillTime(0930) == 0, LastClose, "PC", color.gray, yes);
alert(c crosses above ORH2, "", Alert.Bar, Sound.Bell);
alert(c crosses below ORL2, "", Alert.Bar, Sound.Ring);
# End Code ORB with Risk and targets

hi buddy can you explain me how to add the cloud? I am getting it but except for the green and red cloud thanks

 

[elcid123]

Recently came across this cool indicator called Opening Range Breakout by Mobius. This is more than just an indicator. There is also a strategy with risk and target lines included.

thinkScript Code

After adding the indicator, I couldn't quite understand it much. From looking at it, seems more like a support and resistance indicator to me. I watched a few YouTube videos about the Opening Range Breakout and was able to make some changes to the current code. As a result, I was able to have a clear picture of what this indicator does.

Here is my own version of it:

declare Hide_On_Daily;
declare Once_per_bar;

input OrMeanS  = 0930.0; #hint OrMeanS: Begin Mean Period. Usually Market Open EST.
input OrMeanE  = 0935.0; #hint OrMeanE: End Mean period. Usually End of first bar.
input OrBegin  = 0930.0; #hint OrBegin: Beginning for Period of Opening Range Breakout.
input OrEnd    = 1000.0; #hint OrEnd: End of Period of Opening Range Breakout.
input CloudOn  = no;     #hint CloudOn: Clouds Opening Range.
input AlertOn  = yes;    #hint AlertOn: Alerts on cross of Opening Range.
input ShowTodayOnly = {"No", default "Yes"}; 
input nAtr = 4;          #hint nATR: Lenght for the ATR Risk and Target Lines.
input AtrTargetMult = 2.0; #hint ATRmult: Multiplier for the ATR calculations.

  def h = high;
  def l = low;
  def c = close;
  def bar = barNumber();
  def s = ShowTodayOnly;
  def ORActive = if secondsTillTime(OrMeanE) > 0 and
                    secondsFromTime(OrMeanS) >= 0
                 then 1
                 else 0;
  def today = if s == 0
              or getDay() == getLastDay() and
                 secondsFromTime(OrMeanS) >= 0
              then 1
              else 0;
  def ORHigh = if ORHigh[1] == 0
               or ORActive[1] == 0 and
                  ORActive == 1
               then h
               else if ORActive and
                       h > ORHigh[1]
               then h
               else ORHigh[1];
  def ORLow = if ORLow[1] == 0
              or ORActive[1] == 0 and
                 ORActive == 1
              then l
              else if ORActive and
                      l < ORLow[1]
              then l
              else ORLow[1];
  def ORWidth = ORHigh - ORLow;
  def na = double.nan;
  def ORHA = if ORActive
             or today < 1
             then na
             else ORHigh;
  def ORLA = if ORActive
             or today < 1
             then na
             else ORLow;
  def O = ORHA - Round(((ORHA - ORLA) / 2) / TickSize(), 0) * TickSize();
  def ORActive2 = if secondsTillTime(OREnd) > 0 and
                     secondsFromTime(ORBegin) >= 0
                  then 1
                  else 0;
  def ORHigh2 = if ORHigh2[1] == 0
                  or ORActive2[1] == 0 and
                     ORActive2 == 1
                then h
                else if ORActive2 and
                        h > ORHigh2[1]
                then h
                else ORHigh2[1];
  def ORLow2 = if ORLow2[1] == 0
                or ORActive2[1] == 0 and
                   ORActive2 == 1
               then l
               else if ORActive2 and
                       l < ORLow2[1]
               then l
               else ORLow2[1];
  def ORWidth2 = ORHigh2 - ORLow2;
  def TimeLine = if secondsTillTime(OREnd) == 0
                 then 1
                 else 0;
  def ORmeanBar = if !ORActive and ORActive[1]
                  then barNumber()
                  else ORmeanBar[1];
  def ORendBar = if !ORActive2 and ORActive2[1]
                 then barNumber()
                 else ORendBar[1];
  def ORL = if (o == 0 , na, o);
plot ORLext = if barNumber() >= highestAll(ORmeanBar)
              then HighestAll(if isNaN(c[-1])
                              then ORL[1]
                              else double.nan)
              else double.nan;
     ORLext.SetDefaultColor(color.Yellow);
     ORLext.SetStyle(curve.Long_DASH);
     ORLext.SetLineWeight(3);
     ORLext.HideTitle();
  def ORH2 = if ORActive2
             or today < 1
             then na
             else ORHigh2;
plot ORH2ext = if barNumber() >= highestAll(ORendBar)
               then HighestAll(if isNaN(c[-1])
                               then ORH2[1]
                               else double.nan)
               else double.nan;
     ORH2ext.SetDefaultColor(color.Green);
     ORH2ext.SetStyle(curve.Long_DASH);
     ORH2ext.SetLineWeight(3);
     ORH2ext.HideTitle();
  def ORL2 = if ORActive2
               or today < 1
             then na
             else ORLow2;
plot ORL2ext = if barNumber() >= highestAll(ORendBar)
               then HighestAll(if isNaN(c[-1])
                               then ORL2[1]
                               else double.nan)
               else double.nan;
     ORL2ext.SetDefaultColor(color.Red);
     ORL2ext.SetStyle(curve.Long_DASH);
     ORL2ext.SetLineWeight(3);
     ORL2ext.HideTitle();
  def RelDay = (ORL - ORL2) / (ORH2 - ORL2);
  def dColor = if RelDay > .5
               then 5
               else if RelDay < .5
                    then 6
               else 4;
  def pos = (ORH2 - ORL2)/10;
plot d1 = if (TimeLine , ORH2, na);
plot d2 = if (TimeLine , ORH2 - ( pos * 2), na);
plot d3 = if (TimeLine , ORH2 - ( pos * 3), na);
plot d4 = if (TimeLine , ORH2 - ( pos * 4), na);
plot d5 = if (TimeLine , ORH2 - ( pos * 5), na);
plot d6 = if (TimeLine , ORH2 - ( pos * 6), na);
plot d7 = if (TimeLine , ORH2 - ( pos * 7), na);
plot d8 = if (TimeLine , ORH2 - ( pos * 8), na);
plot d9 = if (TimeLine , ORH2 - ( pos * 9), na);
plot d10 = if (TimeLine ,(ORL2), na);
     d1.SetPaintingStrategy(PaintingStrategy.POINTS);
     d2.SetPaintingStrategy(PaintingStrategy.POINTS);
     d3.SetPaintingStrategy(PaintingStrategy.POINTS);
     d4.SetPaintingStrategy(PaintingStrategy.POINTS);
     d5.SetPaintingStrategy(PaintingStrategy.POINTS);
     d6.SetPaintingStrategy(PaintingStrategy.POINTS);
     d7.SetPaintingStrategy(PaintingStrategy.POINTS);
     d8.SetPaintingStrategy(PaintingStrategy.POINTS);
     d9.SetPaintingStrategy(PaintingStrategy.POINTS);
    d10.SetPaintingStrategy(PaintingStrategy.POINTS);
     d1.AssignValueColor(GetColor(Dcolor));
     d2.AssignValueColor(GetColor(Dcolor));
     d3.AssignValueColor(GetColor(Dcolor));
     d4.AssignValueColor(GetColor(Dcolor));
     d5.AssignValueColor(GetColor(Dcolor));
     d6.AssignValueColor(GetColor(Dcolor));
     d7.AssignValueColor(GetColor(Dcolor));
     d8.AssignValueColor(GetColor(Dcolor));
     d9.AssignValueColor(GetColor(Dcolor));
    d10.AssignValueColor(GetColor(Dcolor));
     d1.HideBubble();
     d2.HideBubble();
     d3.HideBubble();
     d4.HideBubble();
     d5.HideBubble();
     d6.HideBubble();
     d7.HideBubble();
     d8.HideBubble();
     d9.HideBubble();
    d10.HideBubble();
     d1.HideTitle();
     d2.HideTitle();
     d3.HideTitle();
     d4.HideTitle();
     d5.HideTitle();
     d6.HideTitle();
     d7.HideTitle();
     d8.HideTitle();
     d9.HideTitle();
    d10.HideTitle();
addCloud(if CloudOn == yes
         then orl
         else double.nan
       , orl2,createColor(244,83,66), createColor(244,83,66));
addCloud(if CloudOn == yes
         then orl
         else double.nan
       , orh2,createColor(66,244,131), createColor(66,244,131));
# Begin Risk Algorithm
# First Breakout or Breakdown bars
  def Bubbleloc1 = isNaN(close[-1]);
  def BreakoutBar = if ORActive
                    then double.nan
                    else if !ORActive and c crosses above ORH2
                         then bar
                         else if !isNaN(BreakoutBar[1]) and c crosses ORH2
                              then BreakoutBar[1]
                    else BreakoutBar[1];
  def ATR = if ORActive2
  then Round((Average(TrueRange(h, c, l), nATR)) / TickSize(), 0) * TickSize()
  else ATR[1];
  def cond1 =  if h > ORH2 and
                  h[1] <= ORH2
               then Round((ORH2  + (ATR * AtrTargetMult)) / TickSize(), 0) * TickSize()
               else cond1[1];
plot ORLriskUP = if bar >= OREndBar and !ORActive and today
                 then HighestAll(ORH2ext - 2)
                 else double.nan;
     ORLriskUP.SetStyle(Curve.Long_Dash);
     ORLriskUP.SetDefaultColor(Color.Green);
     ORLriskUP.HideTitle();
  def crossUpBar = if close crosses above ORH2
                   then bar
                   else double.nan;
AddChartBubble(bar == HighestAll(crossUpBar), ORLriskUP, "RiskON ORH", color.green, no);
plot ORLriskDN = if bar >= OREndBar and !ORActive and close < ORL
                 then HighestAll(ORL2ext + 2)
                 else double.nan;
     ORLriskDN.SetStyle(Curve.Long_Dash);
     ORLriskDN.SetDefaultColor(Color.Red);
     ORLriskDN.HideTitle();
  def crossDnBar = if close crosses below ORL2ext
                   then bar
                   else double.nan;
AddChartBubble(bar == HighestAll(crossDnBar), HighestAll(ORLriskDN), "Risk ON ORL", color.red, yes);
# High Targets
plot Htarget = if bar >= BreakoutBar
               then cond1
               else double.nan;
     Htarget.SetPaintingStrategy(paintingStrategy.Squares);
     Htarget.SetLineWeight(1);
     Htarget.SetDefaultColor(Color.White);
     Htarget.HideTitle();
AddChartBubble(BubbleLoc1, Htarget, "RO", color.white, if c > Htarget then no else yes);
  def condHtarget2 = if c crosses above cond1
  then Round((cond1 + (ATR * AtrTargetMult)) / TickSize(), 0) * TickSize()
  else condHtarget2[1];
plot Htarget2 = if bar >= BreakoutBar
                then  condHtarget2
                else double.nan;
     Htarget2.SetPaintingStrategy(PaintingStrategy.Squares);
     Htarget2.SetLineWeight(1);
     Htarget2.SetDefaultColor(Color.Plum);
     Htarget2.HideTitle();
AddChartBubble(BubbleLoc1, Htarget2, "2nd T", color.plum, if c > Htarget2
                                                          then no
                                                          else yes);
  def condHtarget3 = if c crosses above condHtarget2
  then Round((condHtarget2 + (ATR * AtrTargetMult)) / TickSize(), 0) * TickSize()
  else condHtarget3[1];
plot Htarget3 = if bar >= BreakoutBar
                then condHtarget3
                else double.nan;
     Htarget3.SetPaintingStrategy(PaintingStrategy.Squares);
     Htarget3.SetLineWeight(1);
     Htarget3.SetDefaultColor(Color.Plum);
     Htarget3.HideTitle();
AddChartBubble(isNaN(C[-1]), Htarget3, "3rd T", color.plum, if c > Htarget3 then no else yes);
  def condHtarget4 = if c crosses above condHtarget3
  then Round((condHtarget3 + (ATR * AtrTargetMult)) / TickSize(), 0) * TickSize()
  else condHtarget4[1];
plot Htarget4 = if bar >= HighestAll(BreakoutBar)
                then condHtarget4
                else double.nan;
     Htarget4.SetPaintingStrategy(PaintingStrategy.Squares);
     Htarget4.SetLineWeight(1);
     Htarget4.SetDefaultColor(Color.Plum);
     Htarget4.HideTitle();
AddChartBubble(BubbleLoc1, Htarget4, "4th T", color.plum, if c > Htarget4 then no else yes);
  def condHtarget5 = if c crosses above condHtarget4
  then Round((condHtarget4 + (ATR * AtrTargetMult)) / TickSize(), 0) * TickSize()
  else condHtarget5[1];
plot Htarget5 = if bar >= BreakoutBar
                then condHtarget5
                else double.nan;
     Htarget5.SetPaintingStrategy(PaintingStrategy.Squares);
     Htarget5.SetLineWeight(1);
     Htarget5.SetDefaultColor(Color.Plum);
     Htarget5.HideTitle();
AddChartBubble(BubbleLoc1, Htarget5, "5th T", color.plum, if c > Htarget5 then no else yes);
# Low Targets
  def cond2 = if L < ORL2 and
                 L[1] >= ORL2
              then Round((ORL2  - (AtrTargetMult * ATR)) / TickSize(), 0) * TickSize()
              else cond2[1];
plot Ltarget =  if bar >= HighestAll(OREndBar)
                then highestAll(if isNaN(c[-1])
                                then cond2
                                else double.nan)
                else double.nan;
     Ltarget.SetPaintingStrategy(PaintingStrategy.Squares);
     Ltarget.SetLineWeight(1);
     Ltarget.SetDefaultColor(Color.White);
     Ltarget.HideTitle();
AddChartBubble(BubbleLoc1, cond2, "RO", color.white, if c < Ltarget
                                                     then yes
                                                     else no);
  def condLtarget2 = if c crosses below cond2
  then Round((cond2 - (AtrTargetMult * ATR)) / TickSize(), 0) * TickSize()
  else condLtarget2[1];
plot Ltarget2 =  if bar >= HighestAll(OREndBar)
                 then highestAll(if isNaN(c[-1])
                                 then condLtarget2
                                 else double.nan)
                 else double.nan;
     Ltarget2.SetPaintingStrategy(PaintingStrategy.Squares);
     Ltarget2.SetLineWeight(1);
     Ltarget2.SetDefaultColor(Color.Plum);
     Ltarget2.HideTitle();
AddChartBubble(BubbleLoc1, condLtarget2, "2nd T", color.plum, if c < condLtarget2
                                                              then yes
                                                              else no);
  def condLtarget3 = if c crosses below condLtarget2
  then Round((condLtarget2 - (AtrTargetMult * ATR)) / TickSize(), 0) * TickSize()
  else condLtarget3[1];
plot Ltarget3 = if bar >= HighestAll(OREndBar)
                then highestAll(if isNaN(c[-1])
                                then condLtarget3
                                else double.nan)
                else double.nan;
     Ltarget3.SetPaintingStrategy(PaintingStrategy.Squares);
     Ltarget3.SetLineWeight(1);
     Ltarget3.SetDefaultColor(Color.Plum);
     Ltarget3.HideTitle();
AddChartBubble(BubbleLoc1, condLtarget3, "3rd T", color.plum, if c < Ltarget3
                                                              then yes
                                                              else no);
  def condLtarget4 = if c crosses condLtarget3
  then Round((condLtarget3 - (AtrTargetMult * ATR)) / TickSize(), 0) * TickSize()
  else condLtarget4[1];
plot Ltarget4 = if bar >= HighestAll(OREndBar)
                then highestAll(if isNaN(c[-1])
                                then condLtarget4
                                else double.nan)
                else double.nan;
     Ltarget4.SetPaintingStrategy(PaintingStrategy.Squares);
     Ltarget4.SetLineWeight(1);
     Ltarget4.SetDefaultColor(Color.Plum);
     Ltarget4.HideTitle();
AddChartBubble(BubbleLoc1, condLtarget4, "4th T", color.plum, if c < Ltarget4
                                                              then yes
                                                              else no);
  def condLtarget5 = if c crosses condLtarget4
  then Round((condLtarget4 - (AtrTargetMult * ATR)) / TickSize(), 0) * TickSize()
  else condLtarget5[1];
plot Ltarget5 = if bar >= HighestAll(OREndBar)
                then highestAll(if isNaN(c[-1])
                                then condLtarget5
                                else double.nan)
                else double.nan;
     Ltarget5.SetPaintingStrategy(PaintingStrategy.Squares);
     Ltarget5.SetLineWeight(1);
     Ltarget5.SetDefaultColor(Color.Plum);
     Ltarget5.HideTitle();
AddChartBubble(BubbleLoc1, condLtarget5, "5th T", color.plum, if c < Ltarget5
                                                              then yes
                                                              else no);
def last = if secondsTillTime(1600) == 0 and
              secondsFromTime(1600) == 0
           then c[1]
           else last[1];
plot LastClose = if Today and last != 0
                 then last
                 else Double.NaN;
     LastClose.SetPaintingStrategy(PaintingStrategy.Dashes);
     LastClose.SetDefaultColor(Color.White);
     LastClose.HideBubble();
     LastClose.HideTitle();
AddChartBubble(SecondsTillTime(0930) == 0, LastClose, "PC", color.gray, yes);
alert(c crosses above ORH2, "", Alert.Bar, Sound.Bell);
alert(c crosses below ORL2, "", Alert.Bar, Sound.Ring);
# End Code ORB with Risk and targets

Shareable Link: https://tos.mx/qu3Cu0

Now that you have the indicator added, let's get some terminology out of the way.

• The green shadow is called the Bull Zone
• The red shadow is called Bear Zone
• Anywhere above the Bull Zone is called the Breakout Zone
• Anywhere below the Bear Zone is called the Breakdown Zone

Hopefully you were able to understand those terms from this picture.

View attachment 4237

The Setup

• 5 or 15 minutes timeframe
• Heikin-Ashi candlestick
• Disable pre-market and after-hour market
• TEMA (30)
• EMA (20)
• Supertrend Indicator

Usage #1: Taking Advantage of Breakout Zone

Once the stock reaches above the breakout zone, we buy calls.

Usage #2: Taking Advantage of Breakdown Zone

Do the same as above. If the stock start to go from Bear Zone to breakdown zone, we start shorting it.

Usage #3: Avoid Misleading Signals given by Supertrend

A lot of people brought up a really good point about Supertrend. That is sometimes it would give false signals. And I also seen it first hand too. The Opening Range Breakout Indicator will allows us to resolve that.

Example #1: Don't short when the candles are still in the Bull Zone.

View attachment 4238

The only time that it is reasonable to short while the candles are still in Bull Zone is: IF the candle are by the border of Bull Zone and Bear Zone. Even better if it's already crossing the border into Bear Zone.

Example #2: Don't Buy Calls in Breakdown Zone

If you think the Bear Zone is worst, wait until you buy calls in the Breakdown Zone. That's a hard pass.

View attachment 4239

Again, sometimes it may be reasonable to buy calls if the candles are crossing the border going back to Bear Zone, then you may have a chance to pull thru and get above it. But anywhere between the Bear Zone and Breakdown Zone, be cautious, especially if you're already deep down in the Breakdown Zone.

Here is another example of "don't buy calls in the Breakdown zone"

View attachment 4240

The following screenshot will tell us a few things.

View attachment 4241

1. When the Supertrend is giving us a buy signal, and that candle is crossing from Bear Zone into Bull Zone, then it's potentially setting up for a call play. (circle #1)
2. Unlike the rule of not buying calls when you're in Breakdown Zone, shorting when in Breakout Zone could potentially be profitable too. But only if it's reasonable. Look at circle #2. It rejected the white dotted line, which is an additional border to enter another Breakout Zone. Since it rejected the second breakout area, we could take advantage of the Supertrend signal to go short.
3. Circle #3 and #4, don't short in Breakout Zone without reasonable evidence (I like to use Support and Resistance during the Breakout and Breakdown Zone).

When the Supertrend is showing a buy signal while the candle is in Bull Zone then it's fairly safe to take it. When Supertrend is showing a short signal while the candle s in Bear Zone, then it's fairly safe to short at that point. Treat these zones as the home of Bears and Bulls.

I think the concept is pretty simple and straightforward here. Give it a spin and let me know how it goes for you guys.

Feel free to post questions, ideas, or any additional finding from this indicator.

P.S: I'll let Steve talk more about the usage of TEMA and EMA when he's on.

Update: A different version with Fibonacci Levels.

Here is the scanner for anyone interested.

@BenTen
anyupdate how to add the those bull and bear zones? I added the orb but didnt look like this

 

[FreefallJM03]

hi buddy can you explain me how to add the cloud? I am getting it but except for the green and red cloud thanks

I don't see the red/green shaded areas.

 

[FreefallJM03]

hi buddy can you explain me how to add the cloud? I am getting it but except for the green and red cloud thanks

How do you turn on the buy/sell bubbles?

 

[BenTen]

How do you turn on the buy/sell bubbles?

Comment out or remove the AddChartBubble functions in the code.

 

[FreefallJM03]

Comment out or remove the AddChartBubble functions in the code.

That didn't do anything. None of the stuff shows up on the chart now.

 

[SleepyZ]

That didn't do anything. None of the stuff shows up on the chart now.

The following chart link shows the studies in post #1 with the clouds turned on for the opening range study and bubbles in the supertrend study at the input screens. The link has both studies included in the studies screen.
https://tos.mx/!TkTeZCxI

 

[jrj4774]

Good Day, Is there a defination page of what each bubbles means? RO, RISK ON ORH others?

Thank you!!!

 

[useThinkScript]

Explanation of Chart Bubbles associated with the Opening Range Breakout Indicator

RO (Risk Off)
Risk Off trading sentiment generally means market participants are moving away from riskier assets.

Could signal that traders who entered a breakout trade are now exiting or taking profits.​

Might prompt a trader to place a stop-loss, "taking risk off" the table, and secure profits from the initial breakout.​

RISK ON
Risk On refers to a market state where a bullish sentiment is prevalent.
Risk On trading reflects an increased appetite for risk among market participants, often associated with a strong trend.
When a price breaks out above the Opening Range High (ORH) with strong volume, it signifies bullish momentum, this period is "RISK ON".
This signals a higher probability that the upward trend will continue throughout the day.

ORH (Opening Range High)
ORH specifically defines a critical price level that is central to the ORB strategy.
It is the highest price reached during the market's initial trading period (e.g., the first 15 or 30 minutes).
This price level is used to trigger a trading signal.
A break above the ORH is a bullish signal, suggesting a strong upward trend is forming.
In contrast, the "Opening Range Low" (ORL) is the lowest price, and a break below it would be a bearish signal.

The Opening Range BreakOut Strategy is one of the oldest and most favored of profitable daytraders.
However, it requires in-depth experience with market cycles and therefore is not recommended as a beginner strategy.

@jrj4774 Given the popularity of this indicator, you will find web results that provide even more information

 

[antwerks]

Sorry it is late and my notes were mixed lol.. that's what getting old does to ya! I asked Chat GPT to "clean this up" so it is what it is lol... but on review everything is there except notes that there are some manual inputs that need to be placed like what Gamma phase is it in either short gamma or long gamma or transition (1, -1, 0) and other inputs are gamma zones, which are usually gamma high volumes or if using Open Interest high bars strike prices like in Barchart.com Gamma charts. What follows is an explanation of the script and interpretation of the attached chart using this script. This script was developed in reviewing ORB studies and scripts from TOS, TradingView and NinjaTrader.

This is an excellent example — not just of the script working, but of how to think like a professional intraday trader using structure + flow + regime.
I’ll break this down as a training walkthrough so someone else could literally follow this step-by-step.

1. THE FOUNDATION: WHAT THIS SYSTEM IS DOING

This script combines 5 layers of edge:

1. Gamma (Context)​

• Tells you: trend vs mean reversion environment

2. Levels (Structure)

• Reclaim level (640)
• Fade zones (643–645, 648–650)

3. Timing (Execution)​

• First touch (FZ1)
• Trap detection

4. Confirmation (Participation)​

• VWAP
• ORB breaks

5. Decision Engine​

• Score
• Bias
• Market state (your new label)

2. WHAT HAPPENED ON THIS CHART (STEP-BY-STEP)​

Let’s walk through this like a replay.

PHASE 1 — OPEN → INITIAL TREND​

• Price starts below reclaim (640)
• Gamma = SHORT (trend mode)

Immediate implication: Sell rallies, not buy dips

PHASE 2 — FIRST OPPORTUNITY (FZ1 TAGS)​

You see multiple:

• FZ1 bubbles (yellow)

This is critical:


These are: First touch of resistance inside short gamma

✔ This is your highest probability short entry

What should happen (and did):​

• Price enters 643–645
• Momentum slows
• Sellers step in
• Price rolls over

This is your A+ setup

PHASE 3 — TRAP FORMATION (MOST IMPORTANT)​

You see:

• Multiple TRAP DN labels near 640

What this means:​

1. Price tries to reclaim 640
2. Fails
3. Closes back below

This is: FAILED BREAKOUT → CONTINUATION SIGNAL

Why this matters:​

In short gamma:

• Dealers sell weakness
• Failed reclaim = fuel for downside

This is the strongest signal in your system

PHASE 4 — ORB CONFIRMATION

You see:

• ORB DN signals

Combined with:

• Price below VWAP

This confirms: Trend is real, not random

PHASE 5 — TREND ACCELERATION​

After:

• FZ1 rejection
• Trap confirmation
• ORB break

Market transitions into: STRUCTURED TREND DOWN

You see:

• Clean lower highs
• Clean lower lows
• No reclaim of key levels

PHASE 6 — LATE TREND (KEY LESSON)

Now your label shows: LATE TREND / LOW EDGE

This is crucial training insight.

Why?​

Because:

• Move already extended
• Far from reclaim (640)
• No new structure formed
• Score = weak (-2)

Meaning: The opportunity already happened

3. HOW A PROFESSIONAL TRADES THIS​

What they DO​

Early:

• Short FZ1 (643–645)
• Add on trap near 640
• Hold through ORB break

Mid-trend:​

• Trail position
• Take partial profits

Late trend (your current chart):​

• STOP initiating new trades
• Wait for reset

What they DON’T do​

• Chase breakdown at 633
• Short randomly because “it’s going down”
• Ignore “NO TRADE” signal

4. WHAT EACH COMPONENT TAUGHT YOU​

Gamma Mode​

“Should I trend trade or fade?”

Answer: Trend

Fade Zones​

“Where do I enter?”

Answer: 643–645 (FZ1)

Trap Detection​

“Is the breakout real or fake?”

Answer: Fake → short

ORB + VWAP​

“Is this move confirmed?”

Answer: Yes → hold trade

Market State Label​

“Should I still be trading?”

Answer: No → late trend

5. THE BIG LESSON (MOST IMPORTANT)​

This chart demonstrates:

The edge is NOT in predicting direction
The edge is in timing + location + context

6. SIMPLE RULESET (FOR TRAINING)​

If someone is learning this system, give them this:

SHORT GAMMA PLAYBOOK​

Step 1 — Identify regime​

• Below flip → trend mode

Step 2 — Wait for location​

• Fade zones (FZ1 / FZ2)

Step 3 — Confirm weakness​

• Trap signal
• Rejection

Step 4 — Confirm trend​

• Below VWAP
• ORB break

Step 5 — Manage trade​

• Hold through structure
• Exit when:
  • Late trend label appears
  • Score weakens

7. WHY THIS SYSTEM WORKS​

Because it aligns:

• Dealer flows (gamma)
• Liquidity (levels)
• Behavior (traps)
• Participation (VWAP/ORB)

That’s how institutions think

FINAL SUMMARY​

This chart is a perfect training example of:

✔ Ideal short setup:​

• FZ1 entry
• Trap confirmation
• ORB + VWAP alignment

✔ Ideal hold:

• Trend continuation

✔ Ideal stop trading:​

• Late trend label

# Gamma Edge Execution System
# Developed by antwerks
# 03/29/2026
#=================================


# ================================
# === USER INPUTS ===============
# ================================
input showLabel = yes;
input gammaMode = 1; # 1 = Short Gamma, -1 = Long Gamma

input reclaimLevel = 640;
input fadeZone1Low = 643;
input fadeZone1High = 645;
input fadeZone2Low = 648;
input fadeZone2High = 650;

input orbStartTime = 0930;
input orbEndTime   = 1000;

# ================================
# === YESTERDAY LEVELS ===========
# ================================
def yHigh = high(period = "DAY")[1];
def yLow = low(period = "DAY")[1];

plot YH = yHigh;
YH.SetDefaultColor(Color.GREEN);
YH.SetStyle(Curve.SHORT_DASH);

plot YL = yLow;
YL.SetDefaultColor(Color.RED);
YL.SetStyle(Curve.SHORT_DASH);

# ================================
# === RECLAIM LEVEL ==============
# ================================
plot Reclaim = reclaimLevel;
Reclaim.SetDefaultColor(Color.WHITE);
Reclaim.SetLineWeight(2);
Reclaim.SetStyle(Curve.SHORT_DASH);

# ================================
# === GAMMA MODE COLORS ==========
# ================================
def isShortGamma = gammaMode == 1;

DefineGlobalColor("FZ1", if isShortGamma then Color.RED else Color.LIGHT_GRAY);
DefineGlobalColor("FZ2", if isShortGamma then Color.ORANGE else Color.GRAY);

# ================================
# === FADE ZONES ================
# ================================
plot FZ1L = fadeZone1Low;
plot FZ1H = fadeZone1High;
plot FZ2L = fadeZone2Low;
plot FZ2H = fadeZone2High;

FZ1L.SetDefaultColor(GlobalColor("FZ1"));
FZ1H.SetDefaultColor(GlobalColor("FZ1"));

FZ2L.SetDefaultColor(GlobalColor("FZ2"));
FZ2H.SetDefaultColor(GlobalColor("FZ2"));

AddCloud(FZ1L, FZ1H, GlobalColor("FZ1"), GlobalColor("FZ1"));
AddCloud(FZ2L, FZ2H, GlobalColor("FZ2"), GlobalColor("FZ2"));

# ================================
# === FIRST TOUCH DETECTION ======
# ================================
def inFZ1 = close >= fadeZone1Low and close <= fadeZone1High;
def inFZ2 = close >= fadeZone2Low and close <= fadeZone2High;

def firstTouchFZ1 = inFZ1 and !inFZ1[1];
def firstTouchFZ2 = inFZ2 and !inFZ2[1];

AddChartBubble(firstTouchFZ1, high, "FZ1", Color.YELLOW, yes);
AddChartBubble(firstTouchFZ2, high, "FZ2", Color.ORANGE, yes);

# ================================
# === TRAP DETECTION ============
# ================================
def aboveReclaim = close > reclaimLevel;
def belowReclaim = close < reclaimLevel;

def wasAbove = aboveReclaim[1];

def rejection = high > reclaimLevel and close < reclaimLevel;
def strongReject = close < open;

def trapShort = wasAbove and rejection and strongReject;

AddChartBubble(trapShort and !trapShort[1], high, "TRAP DN", Color.RED, yes);

# ================================
# === VWAP ======================
# ================================
plot VWAPLine = VWAP();
VWAPLine.SetDefaultColor(Color.CYAN);
VWAPLine.SetLineWeight(2);

def aboveVWAP = close > VWAPLine;
def belowVWAP = close < VWAPLine;

# ================================
# === ORB (TIME-BASED, FIXED) ====
# ================================

def newDay = GetYYYYMMDD() <> GetYYYYMMDD()[1];
def inORB = SecondsFromTime(orbStartTime) >= 0 and SecondsTillTime(orbEndTime) > 0;
def orbFinished = SecondsTillTime(orbEndTime) <= 0;

rec orbHigh =
    if newDay then Double.NaN
    else if inORB and IsNaN(orbHigh[1]) then high
    else if inORB then Max(high, orbHigh[1])
    else orbHigh[1];

rec orbLow =
    if newDay then Double.NaN
    else if inORB and IsNaN(orbLow[1]) then low
    else if inORB then Min(low, orbLow[1])
    else orbLow[1];

plot ORB_High_Line = if orbFinished then orbHigh else Double.NaN;
ORB_High_Line.SetDefaultColor(Color.GREEN);
ORB_High_Line.SetStyle(Curve.SHORT_DASH);
ORB_High_Line.SetLineWeight(2);

plot ORB_Low_Line = if orbFinished then orbLow else Double.NaN;
ORB_Low_Line.SetDefaultColor(Color.RED);
ORB_Low_Line.SetStyle(Curve.SHORT_DASH);
ORB_Low_Line.SetLineWeight(2);

def breakAboveORB = orbFinished and close > orbHigh;
def breakBelowORB = orbFinished and close < orbLow;

AddChartBubble(breakAboveORB and !breakAboveORB[1], low, "ORB UP", Color.GREEN, no);
AddChartBubble(breakBelowORB and !breakBelowORB[1], high, "ORB DN", Color.RED, yes);
# ================================
# === CONFIRMATION LOGIC ========
# ================================
def trendConfirmedShort = belowVWAP and breakBelowORB;
def trendConfirmedLong = aboveVWAP and breakAboveORB;

# ================================
# === SCORING ===================
# ================================
def avgVol = Average(volume, 20);
def highVol = volume > avgVol * 1.2;

def bull = close > open;
def bear = close < open;

def bullScore =
    (if highVol then 2 else 1) +
    (if bull then 2 else 0);

def bearScore =
    (if highVol then 2 else 1) +
    (if bear then 2 else 0);

def netScore = bullScore - bearScore;

# ================================
# === LABELS ====================
# ================================
AddLabel(yes,
    if gammaMode == 1 then "Gamma: SHORT (Trend Mode)"
    else "Gamma: LONG (Mean Reversion)",
    if gammaMode == 1 then Color.CYAN else Color.ORANGE
);

AddLabel(showLabel,
    "Score: " + netScore +
    if netScore >= 4 then " (LONG)"
    else if netScore <= -4 then " (SHORT)"
    else " (NO TRADE)",
    if netScore >= 2 then Color.GREEN
    else if netScore <= -2 then Color.RED
    else Color.GRAY
);

def noTrade = AbsValue(netScore) <= 2;

AddLabel(yes,
    if noTrade then "NO TRADE"
    else "ACTIVE",
    if noTrade then Color.GRAY else Color.WHITE
);

AddLabel(yes,
    if trendConfirmedShort then "CONFIRMED SHORT (ORB + VWAP)"
    else if trendConfirmedLong then "CONFIRMED LONG (ORB + VWAP)"
    else "NO CONFIRMATION",
    if trendConfirmedShort then Color.RED
    else if trendConfirmedLong then Color.GREEN
    else Color.GRAY
);

AddLabel(yes,
    if netScore <= -4 then "Bias: SHORT (Sell Rips)"
    else if netScore >= 4 then "Bias: LONG (Buy Dips)"
    else "Bias: NEUTRAL",
    if netScore <= -4 then Color.RED
    else if netScore >= 4 then Color.GREEN
    else Color.GRAY
);

AddLabel(yes,
    "Reclaim: " + reclaimLevel +
    " | FZ1: " + fadeZone1Low + "-" + fadeZone1High +
    " | FZ2: " + fadeZone2Low + "-" + fadeZone2High,
    Color.WHITE
);

# ================================
# === MARKET STATE LABEL =========
# ================================

# Distance from reclaim (extension proxy)
def extension = AbsValue(close - reclaimLevel);

# You can tweak this threshold
input extensionThreshold = 5.0;

def isExtended = extension > extensionThreshold;

# State conditions
def strongTrend = (trendConfirmedShort or trendConfirmedLong) and AbsValue(netScore) >= 4;
def weakEnv = AbsValue(netScore) <= 2 and !trendConfirmedShort and !trendConfirmedLong;
def lateTrend = isExtended and AbsValue(netScore) <= 2 and (trendConfirmedShort[10] or trendConfirmedLong[10]);

# Label logic
AddLabel(yes,
    if strongTrend then "TREND CONFIRMED (HIGH EDGE)"
    else if lateTrend then "LATE TREND / LOW TRADING EDGE"
    else if weakEnv then "CHOP / LOW CONVICTION"
    else "TRANSITION",
    
    if strongTrend then Color.GREEN
    else if lateTrend then Color.YELLOW
    else if weakEnv then Color.GRAY
    else Color.DARK_ORANGE
);

# ================================
# === ALERTS ====================
# ================================
Alert(trapShort, "Trap Detected → Short Setup", Alert.BAR, Sound.Bell);

https://imgur.com/2OwBaUd

 

[csricksdds]

Sorry it is late and my notes were mixed lol.. that's what getting old does to ya! I asked Chat GPT to "clean this up" so it is what it is lol... but on review everything is there except notes that there are some manual inputs that need to be placed like what Gamma phase is it in either short gamma or long gamma or transition (1, -1, 0) and other inputs are gamma zones, which are usually gamma high volumes or if using Open Interest high bars strike prices like in Barchart.com Gamma charts. What follows is an explanation of the script and interpretation of the attached chart using this script. This script was developed in reviewing ORB studies and scripts from TOS, TradingView and NinjaTrader.

This is an excellent example — not just of the script working, but of how to think like a professional intraday trader using structure + flow + regime.
I’ll break this down as a training walkthrough so someone else could literally follow this step-by-step.

1. THE FOUNDATION: WHAT THIS SYSTEM IS DOING

This script combines 5 layers of edge:

1. Gamma (Context)​

• Tells you: trend vs mean reversion environment

2. Levels (Structure)

• Reclaim level (640)
• Fade zones (643–645, 648–650)

3. Timing (Execution)​

• First touch (FZ1)
• Trap detection

4. Confirmation (Participation)​

• VWAP
• ORB breaks

5. Decision Engine​

• Score
• Bias
• Market state (your new label)

2. WHAT HAPPENED ON THIS CHART (STEP-BY-STEP)​

Let’s walk through this like a replay.

PHASE 1 — OPEN → INITIAL TREND​

• Price starts below reclaim (640)
• Gamma = SHORT (trend mode)

Immediate implication: Sell rallies, not buy dips

PHASE 2 — FIRST OPPORTUNITY (FZ1 TAGS)​

You see multiple:

• FZ1 bubbles (yellow)

This is critical:


These are: First touch of resistance inside short gamma

✔ This is your highest probability short entry

What should happen (and did):​

• Price enters 643–645
• Momentum slows
• Sellers step in
• Price rolls over

This is your A+ setup

PHASE 3 — TRAP FORMATION (MOST IMPORTANT)​

You see:

• Multiple TRAP DN labels near 640

What this means:​

1. Price tries to reclaim 640
2. Fails
3. Closes back below

This is: FAILED BREAKOUT → CONTINUATION SIGNAL

Why this matters:​

In short gamma:

• Dealers sell weakness
• Failed reclaim = fuel for downside

This is the strongest signal in your system

PHASE 4 — ORB CONFIRMATION

You see:

• ORB DN signals

Combined with:

• Price below VWAP

This confirms: Trend is real, not random

PHASE 5 — TREND ACCELERATION​

After:

• FZ1 rejection
• Trap confirmation
• ORB break

Market transitions into: STRUCTURED TREND DOWN

You see:

• Clean lower highs
• Clean lower lows
• No reclaim of key levels

PHASE 6 — LATE TREND (KEY LESSON)

Now your label shows: LATE TREND / LOW EDGE

This is crucial training insight.

Why?​

Because:

• Move already extended
• Far from reclaim (640)
• No new structure formed
• Score = weak (-2)

Meaning: The opportunity already happened

3. HOW A PROFESSIONAL TRADES THIS​

What they DO​

Early:

• Short FZ1 (643–645)
• Add on trap near 640
• Hold through ORB break

Mid-trend:​

• Trail position
• Take partial profits

Late trend (your current chart):​

• STOP initiating new trades
• Wait for reset

What they DON’T do​

• Chase breakdown at 633
• Short randomly because “it’s going down”
• Ignore “NO TRADE” signal

4. WHAT EACH COMPONENT TAUGHT YOU​

Gamma Mode​

Answer: Trend

Fade Zones​

Answer: 643–645 (FZ1)

Trap Detection​

Answer: Fake → short

ORB + VWAP​

Answer: Yes → hold trade

Market State Label​

Answer: No → late trend

5. THE BIG LESSON (MOST IMPORTANT)​

This chart demonstrates:

The edge is NOT in predicting direction
The edge is in timing + location + context

6. SIMPLE RULESET (FOR TRAINING)​

If someone is learning this system, give them this:

SHORT GAMMA PLAYBOOK​

Step 1 — Identify regime​

• Below flip → trend mode

Step 2 — Wait for location​

• Fade zones (FZ1 / FZ2)

Step 3 — Confirm weakness​

• Trap signal
• Rejection

Step 4 — Confirm trend​

• Below VWAP
• ORB break

Step 5 — Manage trade​

• Hold through structure
• Exit when:
  • Late trend label appears
  • Score weakens

7. WHY THIS SYSTEM WORKS​

Because it aligns:

• Dealer flows (gamma)
• Liquidity (levels)
• Behavior (traps)
• Participation (VWAP/ORB)

That’s how institutions think

FINAL SUMMARY​

This chart is a perfect training example of:

✔ Ideal short setup:​

• FZ1 entry
• Trap confirmation
• ORB + VWAP alignment

✔ Ideal hold:

• Trend continuation

✔ Ideal stop trading:​

• Late trend label

# Gamma Edge Execution System
# Developed by antwerks
# 03/29/2026
#=================================


# ================================
# === USER INPUTS ===============
# ================================
input showLabel = yes;
input gammaMode = 1; # 1 = Short Gamma, -1 = Long Gamma

input reclaimLevel = 640;
input fadeZone1Low = 643;
input fadeZone1High = 645;
input fadeZone2Low = 648;
input fadeZone2High = 650;

input orbStartTime = 0930;
input orbEndTime   = 1000;

# ================================
# === YESTERDAY LEVELS ===========
# ================================
def yHigh = high(period = "DAY")[1];
def yLow = low(period = "DAY")[1];

plot YH = yHigh;
YH.SetDefaultColor(Color.GREEN);
YH.SetStyle(Curve.SHORT_DASH);

plot YL = yLow;
YL.SetDefaultColor(Color.RED);
YL.SetStyle(Curve.SHORT_DASH);

# ================================
# === RECLAIM LEVEL ==============
# ================================
plot Reclaim = reclaimLevel;
Reclaim.SetDefaultColor(Color.WHITE);
Reclaim.SetLineWeight(2);
Reclaim.SetStyle(Curve.SHORT_DASH);

# ================================
# === GAMMA MODE COLORS ==========
# ================================
def isShortGamma = gammaMode == 1;

DefineGlobalColor("FZ1", if isShortGamma then Color.RED else Color.LIGHT_GRAY);
DefineGlobalColor("FZ2", if isShortGamma then Color.ORANGE else Color.GRAY);

# ================================
# === FADE ZONES ================
# ================================
plot FZ1L = fadeZone1Low;
plot FZ1H = fadeZone1High;
plot FZ2L = fadeZone2Low;
plot FZ2H = fadeZone2High;

FZ1L.SetDefaultColor(GlobalColor("FZ1"));
FZ1H.SetDefaultColor(GlobalColor("FZ1"));

FZ2L.SetDefaultColor(GlobalColor("FZ2"));
FZ2H.SetDefaultColor(GlobalColor("FZ2"));

AddCloud(FZ1L, FZ1H, GlobalColor("FZ1"), GlobalColor("FZ1"));
AddCloud(FZ2L, FZ2H, GlobalColor("FZ2"), GlobalColor("FZ2"));

# ================================
# === FIRST TOUCH DETECTION ======
# ================================
def inFZ1 = close >= fadeZone1Low and close <= fadeZone1High;
def inFZ2 = close >= fadeZone2Low and close <= fadeZone2High;

def firstTouchFZ1 = inFZ1 and !inFZ1[1];
def firstTouchFZ2 = inFZ2 and !inFZ2[1];

AddChartBubble(firstTouchFZ1, high, "FZ1", Color.YELLOW, yes);
AddChartBubble(firstTouchFZ2, high, "FZ2", Color.ORANGE, yes);

# ================================
# === TRAP DETECTION ============
# ================================
def aboveReclaim = close > reclaimLevel;
def belowReclaim = close < reclaimLevel;

def wasAbove = aboveReclaim[1];

def rejection = high > reclaimLevel and close < reclaimLevel;
def strongReject = close < open;

def trapShort = wasAbove and rejection and strongReject;

AddChartBubble(trapShort and !trapShort[1], high, "TRAP DN", Color.RED, yes);

# ================================
# === VWAP ======================
# ================================
plot VWAPLine = VWAP();
VWAPLine.SetDefaultColor(Color.CYAN);
VWAPLine.SetLineWeight(2);

def aboveVWAP = close > VWAPLine;
def belowVWAP = close < VWAPLine;

# ================================
# === ORB (TIME-BASED, FIXED) ====
# ================================

def newDay = GetYYYYMMDD() <> GetYYYYMMDD()[1];
def inORB = SecondsFromTime(orbStartTime) >= 0 and SecondsTillTime(orbEndTime) > 0;
def orbFinished = SecondsTillTime(orbEndTime) <= 0;

rec orbHigh =
    if newDay then Double.NaN
    else if inORB and IsNaN(orbHigh[1]) then high
    else if inORB then Max(high, orbHigh[1])
    else orbHigh[1];

rec orbLow =
    if newDay then Double.NaN
    else if inORB and IsNaN(orbLow[1]) then low
    else if inORB then Min(low, orbLow[1])
    else orbLow[1];

plot ORB_High_Line = if orbFinished then orbHigh else Double.NaN;
ORB_High_Line.SetDefaultColor(Color.GREEN);
ORB_High_Line.SetStyle(Curve.SHORT_DASH);
ORB_High_Line.SetLineWeight(2);

plot ORB_Low_Line = if orbFinished then orbLow else Double.NaN;
ORB_Low_Line.SetDefaultColor(Color.RED);
ORB_Low_Line.SetStyle(Curve.SHORT_DASH);
ORB_Low_Line.SetLineWeight(2);

def breakAboveORB = orbFinished and close > orbHigh;
def breakBelowORB = orbFinished and close < orbLow;

AddChartBubble(breakAboveORB and !breakAboveORB[1], low, "ORB UP", Color.GREEN, no);
AddChartBubble(breakBelowORB and !breakBelowORB[1], high, "ORB DN", Color.RED, yes);
# ================================
# === CONFIRMATION LOGIC ========
# ================================
def trendConfirmedShort = belowVWAP and breakBelowORB;
def trendConfirmedLong = aboveVWAP and breakAboveORB;

# ================================
# === SCORING ===================
# ================================
def avgVol = Average(volume, 20);
def highVol = volume > avgVol * 1.2;

def bull = close > open;
def bear = close < open;

def bullScore =
    (if highVol then 2 else 1) +
    (if bull then 2 else 0);

def bearScore =
    (if highVol then 2 else 1) +
    (if bear then 2 else 0);

def netScore = bullScore - bearScore;

# ================================
# === LABELS ====================
# ================================
AddLabel(yes,
    if gammaMode == 1 then "Gamma: SHORT (Trend Mode)"
    else "Gamma: LONG (Mean Reversion)",
    if gammaMode == 1 then Color.CYAN else Color.ORANGE
);

AddLabel(showLabel,
    "Score: " + netScore +
    if netScore >= 4 then " (LONG)"
    else if netScore <= -4 then " (SHORT)"
    else " (NO TRADE)",
    if netScore >= 2 then Color.GREEN
    else if netScore <= -2 then Color.RED
    else Color.GRAY
);

def noTrade = AbsValue(netScore) <= 2;

AddLabel(yes,
    if noTrade then "NO TRADE"
    else "ACTIVE",
    if noTrade then Color.GRAY else Color.WHITE
);

AddLabel(yes,
    if trendConfirmedShort then "CONFIRMED SHORT (ORB + VWAP)"
    else if trendConfirmedLong then "CONFIRMED LONG (ORB + VWAP)"
    else "NO CONFIRMATION",
    if trendConfirmedShort then Color.RED
    else if trendConfirmedLong then Color.GREEN
    else Color.GRAY
);

AddLabel(yes,
    if netScore <= -4 then "Bias: SHORT (Sell Rips)"
    else if netScore >= 4 then "Bias: LONG (Buy Dips)"
    else "Bias: NEUTRAL",
    if netScore <= -4 then Color.RED
    else if netScore >= 4 then Color.GREEN
    else Color.GRAY
);

AddLabel(yes,
    "Reclaim: " + reclaimLevel +
    " | FZ1: " + fadeZone1Low + "-" + fadeZone1High +
    " | FZ2: " + fadeZone2Low + "-" + fadeZone2High,
    Color.WHITE
);

# ================================
# === MARKET STATE LABEL =========
# ================================

# Distance from reclaim (extension proxy)
def extension = AbsValue(close - reclaimLevel);

# You can tweak this threshold
input extensionThreshold = 5.0;

def isExtended = extension > extensionThreshold;

# State conditions
def strongTrend = (trendConfirmedShort or trendConfirmedLong) and AbsValue(netScore) >= 4;
def weakEnv = AbsValue(netScore) <= 2 and !trendConfirmedShort and !trendConfirmedLong;
def lateTrend = isExtended and AbsValue(netScore) <= 2 and (trendConfirmedShort[10] or trendConfirmedLong[10]);

# Label logic
AddLabel(yes,
    if strongTrend then "TREND CONFIRMED (HIGH EDGE)"
    else if lateTrend then "LATE TREND / LOW TRADING EDGE"
    else if weakEnv then "CHOP / LOW CONVICTION"
    else "TRANSITION",
   
    if strongTrend then Color.GREEN
    else if lateTrend then Color.YELLOW
    else if weakEnv then Color.GRAY
    else Color.DARK_ORANGE
);

# ================================
# === ALERTS ====================
# ================================
Alert(trapShort, "Trap Detected → Short Setup", Alert.BAR, Sound.Bell);

https://imgur.com/2OwBaUd

Good work and thoughts!