Rapid ORB Pro – Breakout & Fakeout Detector (Multi Sessions)

"Multi-session ORB tool with breakout confirmation, fakeout detection, and volume filter for true momentum trades. DLS confusion proof"

Description

The Rapid ORB Pro indicator is designed to identify opening range breakouts (ORB) across multiple sessions and confirm whether the move is valid or a likely fakeout. This tool works on any asset and timeframe where range trading is relevant. Also coded in a way to tackle daylight saving issue around the world.

Core Concepts

1. Opening Range Breakout (ORB):
The indicator marks the defined opening range for each session and tracks when price breaks above or below this range.

2. Confirmation Rules:
A breakout is only confirmed when:

• The breakout candle shows a strong body (momentum candle), not just a wick.
  
• The candle closes beyond the prior candle’s high or low, ensuring follow-through.
  
• The structure aligns with market flow (Higher High / Higher Low in bullish context, Lower High / Lower Low in bearish context).
  

These conditions help filter weak breakouts and highlight true momentum moves.

3. Fakeout Detection (FO):
If price breaks out but the very next candle closes back inside the opening range, an FO marker is plotted. This helps traders exit limit orders quickly and avoid false signals.

4. 7-Bar Check:
If no valid breakout occurs within 7 candles after the range, the indicator prints a “7” on the chart. This signals a likely choppy session where breakout trades have lower probability.

5. Volume State Table:
A table on the chart compares the breaker candle’s volume with the highest volume candle inside the opening range. This provides a quick assessment of whether the breakout was backed by strong participation (High Volume) or weaker flow (Low Volume).

Use Cases

• Works on forex, indices, commodities, and crypto.
  
• Useful for scalpers looking to catch the first breakout of the day.
  
• Helps swing traders filter false moves in volatile sessions.
  
• Can be applied to any range trading strategy, not limited to session opens
  

.

Trading Tip

• Trend is your friend, with trend behind the signal probability goes high.
  
• Check the previous session or prior day stab (PD stab).
  
• Watch for SMT divergence forming across correlated pairs.
  
• If SMT lines up with a signal, the breaker confirmation is stronger.
  
• Both SMT alignment and trend behind valid breakout candle increase the probability of a sustained move.
  
• Always start with lower time frame and go up the time frame ladder. Depending on the market you can catch move earlier within lower time frame.
  

Note: Each input option in this indicator includes a tooltip with detailed explanations. We recommend experimenting with the settings and backtesting to discover what aligns best with your trading style and comfort zone. By default, the confirmation filters are set to what we have found to be the most effective combinations.

Disclaimer

This indicator is for educational and informational purposes only. It does not provide financial advice or guarantee results. Trading involves significant risk, and you should carefully consider your objectives and risk tolerance before using this tool in live markets. Always conduct your own research and backtesting.