ORB + INMERELO ADR + ATR

This indicator provides **two completely different but complementary lines of information** for intraday traders:

# **1. The ORB Line (ADR-Based Context Line)**
The ORB portion of the script focuses on **range expansion** relative to typical daily behavior.

### **What it measures**

* **20-day ADR (Average Daily Range)**
* **Today’s range as a % of ADR**
* **How much of the average range has been “used”** by the time you’re considering an Opening Range Breakout

### **Why it matters for ORB trading**

Successful ORBs thrive when:

* **ADR used% is low** (green) → plenty of fuel left for expansion
* **ADR used% is moderate** (orange) → breakout still possible but less explosive
* **ADR used% is high** (red) → breakout attempts often fail or reverse

### **What the indicator gives you**

A clean, color-coded readout of:

* ADR
* Today’s range
* Used%
* A simple green/orange/red evaluation of ORB quality

This allows a trader to quickly judge whether **conditions favor ORB continuation or mean-reversion reversal**—without manually calculating ranges or switching charts.

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# **2. The INMERELO Line (ATR Stretch + MA Interaction)**

The INMERELO portion of the script is built around **mean-reversion mechanics**:
the market tends to revert back toward the **first daily MA it crosses under**.

### **How it determines the active MA**

At the start of each session, the script waits for price to cross under:

* **EMA10**
* **EMA21**
* **SMA50**

Whichever MA is crossed first becomes the **active MA** for the day.

If no cross has occurred yet, the indicator shows the **nearest MA**, so traders know exactly what the likely “INMERELO magnet” will be.

### **What it measures**

* **Stretch from the active MA (in ATR units)**
* **20-day ATR regime direction (expanding or contracting)**
* **Daily MA context: E10, E21, or S50**

### **Why it matters for INMERELOs**

This provides:

* The **target MA**
* The **distance to that MA in ATRs**
* A color-coded stretch score:

* **0.6–1.2 ATR** → prime INMERELO zone (Green)
* Moderately stretched → Orange
* Overstretched or dead zone → Red

An up/down arrow shows whether **volatility is expanding or compressing**, which affects expected retrace behavior.

### **What the indicator gives you**

All INMERELO data is displayed in a second compact line:

* Stretch to MA
* Active MA label (E10/E21/S50)
* ATR regime arrow

This allows fast identification of high-probability **mean-reversion trades back to the MA**.

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# **Summary**

This indicator shows:

### **Line 1 → ORB Context (ADR)**

* Is the stock setup for a powerful breakout?
* How much ADR is left?
* Are you early (good) or late (risky)?

### **Line 2 → INMERELO Context (ATR + MA Stretch)**

* Which MA is in control today (EMA10, EMA21, or SMA50)?
* How many ATRs away from that MA are we?
* Is volatility expanding or contracting?
* Is this a clean INMERELO setup or not?

Together, these two lines give traders the **two most important intraday lenses**:
**range expansion (ORB)** and **mean reversion (INMERELO)**—updated every bar, without clutter.