📊 ORB 30-Min Breakout

📊 ORB 30-Min Breakout (NQ 3-Min)
This script automates one of the most classic and popular day trading strategies: the Opening Range Breakout (ORB).

The entire philosophy is based on the idea that the first 30 minutes of the US market open (9:30 - 10:00 AM CT for futures) establishes the day's initial high and low. The first breakout of this range often dictates the primary direction for the rest of the session.

This indicator is designed to find this one high-probability trade per day and filter out all the noise.

⭐ Core Features
Automatic Range Plotting: Automatically detects and draws the Range High (green), Range Low (red), and Midpoint (dashed) from your 30-minute opening window.

"Anti-Fakeout" Entry Logic: This is not a simple "price crossed a line" script. By default, it requires two things for a valid signal:

Candle Close Confirmation: The breakout candle must CLOSE outside the range, not just wick through it. This is your primary filter against "stop hunts" and "fakeouts."

Volume Surge Confirmation: The breakout candle must have a surge in volume (default 1.5x the average). This confirms conviction behind the move.

"One-and-Done" Logic: This system is built to take only the first valid breakout of the day (either long or short). If a LONG signal appears, the script will not look for any SHORT signals afterward, and vice-versa. This prevents over-trading and getting chopped up in "whipsaw" conditions.

Full Trade Plan on Every Signal: Every valid signal arrow (▲/▼) prints a label with the entire trade plan:

Entry Price (close of the signal candle)

Stop Price (the opposite side of the range)

Target Price (based on your Risk:Reward settings)

Range Size (in points)

Status HUD: A clean on-screen display shows the current status (BUILDING RANGE..., 🎯 READY, ✅ POSITION TAKEN), the key price levels, and which (if any) trade has been taken for the day.

Alerts Ready: You can create alerts for "ORB LONG" and "ORB SHORT" to get notified of new signals.

📈 How to Trade This Strategy (The Rules)
This is designed to be a systematic, non-discretionary strategy.

1. The Setup (9:30 - 10:00 AM CT)

DO NOTHING. During this period, the chart background will be yellow.

The script is "Building the Range" by logging the highest high and lowest low.

At 10:00 AM CT, the Range High (green line) and Range Low (red line) will appear and extend across your chart.

2. The Trading Window (After 10:00 AM CT)

The chart background will turn blue. This means the script is "Ready" and is now actively hunting for a breakout.

Your only job is to wait for the first valid signal.

3. Taking a LONG Trade

Entry: Wait for a LONG (▲) arrow and label to appear.

What this means: A candle has closed above the Range High (green line) and it did so with a Volume Surge (if enabled).

Stop Loss: Your stop loss is the Range Low (red line).

Take Profit: The label provides a target based on your R:R setting (default 2:1). For example, if the range is 30 points, your risk is 30 points, and your target will be 60 points from your entry.

4. Taking a SHORT Trade

Entry: Wait for a SHORT (▼) arrow and label to appear.

What this means: A candle has closed below the Range Low (red line) and it did so with a Volume Surge (if enabled).

Stop Loss: Your stop loss is the Range High (green line).

Take Profit: The label provides the target price.

5. Key Management Rules

ONE AND DONE: This is the most important rule. The script will only give you one signal per day (the first one that triggers). If you get a LONG signal at 10:15 AM, you are done for the day. You do not take a SHORT signal that may appear at 11:30 AM.

NO TRADE IS A TRADE: On some days, the price will never break out. It may chop around inside the opening range all day. On these days, no signal will appear. This is a feature, not a bug—it has kept you out of a non-trending, "chop" market.

❓ Frequently Asked Questions (FAQ)
Q: This is the MOST important setting: What is the Timezone Offset? A: The script is built for futures, which operate on CT (Chicago Time). The 9:30-10:00 AM window is in CT. You MUST set this offset if your chart is in a different timezone.

If your TradingView chart is set to New York (EST/EDT): Set Timezone Offset to +1.

If your TradingView chart is set to Los Angeles (PST/PDT): Set Timezone Offset to -2.

If your chart is set to Chicago (CST/CDT): Set Timezone Offset to 0.

Q: Price broke the line, but no signal printed! Why? A: This is almost always your filters working correctly! The 4 most common reasons are:

No Close: The Require Close Outside Range filter is ON, and the price only wicked through the line before closing back inside. This is a "fakeout," and the script successfully filtered it.

No Volume: The Require Volume Surge filter is ON, and the breakout candle had weak, unconvincing volume. The script ignored it.

Trade Already Taken: A signal already happened earlier in the day. The "One-and-Done" logic is active, and the HUD will say "POSITION TAKEN."

Outside Trading Window: The breakout happened after your "Stop Trading After (CT)" time (default 15:00 / 3 PM CT).

Q: What is the best timeframe and asset? A: This script was built and optimized specifically for the NQ (Nasdaq 100 Futures) 3-minute chart. It can also be effective on the ES (S&P 500 Futures) 3-min or 5-min chart.

Q: What if the Opening Range is huge (e.g., >80 points on NQ)? A: This is a point of professional discretion. A very large range means your stop loss (the opposite side of the range) will be very wide, representing a large amount of risk. On extremely volatile days, many traders will either skip the ORB trade or trade with a much smaller position size.

Q: Can I turn off the confirmation filters? A: Yes. In the settings, you can uncheck Require Volume Surge and Require Close Outside Range. This will make the script much more aggressive and will result in many more signals, but also many more "fakeouts." It is not recommended until you are an advanced user of this strategy.