Opening Range Breakout with VWAP & RSI Confirmation

This indicator identifies breakout trading opportunities based on the Opening Range Breakout (ORB) strategy combined with intraday VWAP and higher timeframe RSI confirmation.

Opening Range: Calculates the high, low, and midpoint of the first 15 or 30 minutes (configurable) after your specified market open time.

Intraday VWAP: A volume-weighted average price calculated manually and reset daily, tracking price action throughout the trading day.

RSI Confirmation: Uses RSI from a user-selected higher timeframe (1H, 4H, or Daily) to confirm signals.

Buy Signal: Triggered when VWAP breaks above the Opening Range High AND the RSI is below or equal to the buy threshold (default 30).

Sell Signal: Triggered when VWAP breaks below the Opening Range Low AND the RSI is above or equal to the sell threshold (default 70).

Visuals: Plots Opening Range levels and VWAP on the chart with clear buy/sell markers and optional labels showing RSI values.

Alerts: Provides alert conditions for buy and sell signals to facilitate timely trading decisions.

This tool helps traders capture momentum breakouts while filtering trades based on momentum strength indicated by RSI.