155# Opening Range Breakout TradingView Strategy

Joy22 2025

The Opening Range Breakout (ORB) is a classic and powerful strategy used by intraday traders to capitalize on the volatility of the market's early trading hours. In this article, we’ll explore how the Intrablast Indicator automates and enhances this strategy using a sophisticated blend of technical analysis tools, trend confirmation logic, and visual cues to simplify real-time decision-making.

📅 What is the Opening Range?

The Opening Range is defined as the high and low price of an asset during a specific early period of the trading day. For this strategy, the default session is from 09:15 to 10:15 (IST). The idea is simple: once the price breaks out of this range—either above the high or below the low—it can signal a potential trade opportunity in the direction of the breakout.

Mastering the Opening Range Breakout TradingView Strategy

⚙️ How the Intrablast Indicator Works

The Pine Script provided automates the ORB strategy with several layers of intelligence:

✅ 1. Opening Range Detection

Marks the high and low during the defined time range.
Plots horizontal lines to represent the range boundaries.
Optionally displays a shaded background for visual clarity.

✅ 2. Trend Strength with Standard Deviation Bands

A custom trend model based on a simple moving average (SMA) and standard deviation is used to detect strong bullish or bearish momentum.
The indicator classifies trends using band breakouts, helping avoid false signals.

Opening Range Breakout TradingView Strategy

✅ 3. Four-Candle Confirmation Logic

To improve signal quality, the script uses a unique four-candle breakout confirmation. A Buy/Sell signal is generated only if the price closes above or below the high/low of the previous four bars.
This filters out noise and ensures stronger conviction in breakouts.

🔔 Trade Signal Logic

The indicator produces clear Buy ("P-Buy") and Sell ("P-Sell") signals based on:

A confirmed trend change (using the SMA-deviation logic).
A valid breakout above the high or below the low of the four recent candles.

These signals are marked directly on the chart using intuitive labels and symbols, making it easy to execute trades.

📊 Visual Features and Enhancements

While the underlying logic is robust, the chart visuals help traders quickly interpret signals:

Green and Red Bars: Represent bullish and bearish momentum.
ORB Box: Shows the initial trading range with optional mid-line and projections.
Directional Arrows: Appear when trends change.
Take-Profit Markers ("X"): Indicate when price crosses outer deviation bands, acting as potential reversal or target zones.

📈 Asset Coverage

The script is designed to support multiple markets:

Indices: NIFTY, BANKNIFTY, FINNIFTY, SENSEX, etc.
Cryptocurrencies: BTC/USD, ETH/USD
Custom symbols can be added easily via request.security() for integration with other assets.

📢 Alerts and Automation

The strategy includes real-time alerts:

Trend reversal alerts
Take-profit level alerts
Buy/Sell signal alerts
These can be configured to push notifications to your phone, email, or webhook-connected bots.