Basic ORB [MOT]

🟢 Basic ORB [MOT] – Opening Range Breakout Indicator by MOT
The Basic ORB [MOT] is a high-performance Opening Range Breakout (ORB) tool built for serious intraday traders. This indicator is being provided to the public for free.

It automatically draws the high, low, and midline of the 9:30–9:45 AM ET session, giving you a visual framework for high-probability breakout and reversal opportunities. You can customize line colors, enable historical ORBs, overlay Fibonacci levels, and show the previous day's highs and lows — all from a clean, intuitive interface.

📌 1. ORB High, Low & Midline Levels
Function: Automatically draws the high, low, and midpoint of the 9:30–9:45 session.

ORB High (green line by default)
ORB Low (red line by default)
Midline (white line) helps gauge control or range equilibrium

📸 Live ORB range drawing: high, low, and midline levels.

🔁 2. Show Previous ORBs
Function: Displays up to N previous days' ORBs for pattern recognition or confluence stacking.

Previous ORB count up to chart data maximum
Great for seeing whether price respects prior opening ranges

📸 Historical ORB ranges for confluence and support/resistance.

🔺 3. Previous Day High/Low
Function: Adds extended horizontal lines for previous day’s high and low (separate from ORB

Use as extra S/R during breakout decisions
Color-coded for easy distinction (fuchsia and orange by default)

📸 Previous day’s high and low plotted for context.

📐 4. Fibonacci Levels
Function: Optionally plot 0.236, 0.382, 0.618, and 0.786 levels between ORB high/low.

Helps identify pullbacks or measured moves
Drawn as dashed teal lines by default
Labels can be enabled or disabled

📸 Optional Fibonacci extensions drawn between ORB high and low.

🏷️ 5. Dynamic Price Labels
Function: Price labels are placed next to each ORB/Fib/Prev level for quick visibility.

Labels can be toggled on/off
Customizable text color, background color, and size
Offset control available

📸 Clean and customizable labels at key levels.

⚙️ 6. Fully Customizable Settings Panel
Function: Every visual element is adjustable, including:

✅ Line color and width
✅ Number of historical ORBs
✅ Label size, position, background/text color
✅ Toggle options for Fib lines, labels, and previous day levels

📸 Settings panel lets you customize visuals, fibs, history, and more.

📈 Use Case

Works best on 1m, 5m, or 15m charts
Ideal for breakout traders, reversal scalpers, or gap/ORB retest strategies
Applies to futures, stocks, ETFs, indexes, and crypto

⚠️ Disclaimer
This indicator is intended for educational and informational purposes only. It is not financial advice. Trading involves substantial risk. Always use proper risk management and test in a simulated environment before applying live. The author is not liable for any financial losses.