ORB Algo

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⚡ ORB Strategy + Backtesting (Pine Script v5)

This script implements a complete Opening Range Breakout (ORB) strategy, featuring built-in backtesting, advanced TP/SL visualization, full style customization, and a performance dashboard. It is designed for traders who want to clearly evaluate breakout performance directly on the chart.

🕑 ORB Window Configuration

🔹 Session selection: choose between Market Timezone or Custom Session.
🔹 Timezone support: configurable from UTC-8 to UTC+12.
🔹 Daily limit: option to allow only one trade per day.
🔹 Risk/Reward (RR) settings:

Configurable TP1, TP2, and TP3 levels.

Stop Loss calculated dynamically from the ORB range.

📊 Backtesting Engine
🔹 Interactive dashboard showing trades, wins, losses, and win rate.
🔹 Adjustable partial exits for each TP (TP1, TP2, TP3).
🔹 Automatic calculation of percentage-based profit and loss.
🔹 Tracks total trades, total profit, and average profit per trade.

🎨 Visual Customization
🔹 Fully customizable colors:

ORB high/low lines and range fill.

Buy/Sell entry labels.

TP and SL lines with background zones.
🔹 Line style and thickness options (solid, dotted, dashed).
🔹 Visibility controls for each TP/SL level.
🔹 Clear profit and loss zones drawn directly on the chart.
🚀 Trading Logic
🔹 LONG entries: triggered when price breaks above the ORB high.
🔹 SHORT entries: triggered when price breaks below the ORB low.
🔹 Automatic calculation of Stop Loss and TP1, TP2, TP3 based on ORB range and RR.
🔹 Customizable BUY / SELL labels displayed at entry.

✅ TP / SL Detection

🔹 Real-time detection of TP1, TP2, TP3, and SL hits.
🔹 Prevents double counting of the same level.
🔹 Extended TP/SL lines with shaded zones for better clarity.

📈 Backtesting Dashboard

🔹 Displayed in the top-right corner of the chart.
🔹 Shows:
Total trades

Wins / Losses

Win rate (%)

Total profit (%)

Average profit per trade

🔹 Fully customizable panel color.

✨ Summary

This script combines:

Opening Range detection

Breakout trading logic with advanced risk management

Professional-grade visualizations

Integrated historical performance tracking

High customization for sessions, styles, and colors

💡 Ideal for traders who want to trade ORB setups with clarity, structure, and measurable results.

vor 20 Stunden

Versionshinweise

Accurate Features:

- Timezone just for NY Session
- Trend Filters
- Risk Managment Dashboard updated