TradeX ORB Sniper v3.6Breakout Strategy Framework
TradeX ORB Sniper v3.6 is a closed-source breakout strategy framework designed to identify and manage structured opening range breakouts across different session models and market conditions. It is not a simple ORB line tool or a mashup of existing public indicators. All calculations and logic are developed in-house and operate under a unified internal rule engine.
The framework standardizes how opening ranges are defined, measured, and evaluated, allowing users to objectively study breakout behavior and execution structure across multiple range constructions without changing tools or visual logic.
Core Concept
ORB Sniper implements four internally coded opening range modes, each defining the range differently based on time, session structure, and market behavior:
Pre-market session range
5-minute opening range
15-minute opening range
Volume-adaptive range model
Users can toggle between these four variations while the underlying breakout logic remains consistent. Rather than relying on generic fixed boxes, each range mode applies the same internal rule structure so that breakout conditions can be identified, reviewed, and compared within a controlled and repeatable framework.
This design allows traders to evaluate how different opening range constructions behave as entry frameworks under identical execution rules.
Breakout Detection & Entry Logic
A breakout condition is recognized only when a candle closes outside the active range. When this occurs, the framework highlights that candle as a visual event marker (“Get Ready Candle”), indicating that the range has structurally resolved and directional bias is defined.
This marker represents the strategy’s primary setup trigger and identifies the point at which the framework considers a valid breakout condition to exist.
Range-Based Risk & Target Structure
Following a breakout trigger, the framework projects two calculated zones derived directly from the selected opening range:
Risk Zone
Defines the invalidation area for the breakout thesis. If price retraces into this zone, the breakout condition is considered failed based on the framework’s internal logic.
Continuation Zone
Represents a measured-move projection derived from the same range calculations. This zone maps the expected expansion objective associated with the breakout structure.
Both zones are mathematically linked to the internally calculated range and update dynamically based on the active mode. They are not static multipliers or arbitrary drawings, but proportional extensions of the opening range structure itself.
Customization & Inputs
The framework allows user-level customization of visual and structural components, including:
Range mode selection (V1–V4)
Risk zone color
Continuation zone color
Breakout candle highlight color
Optional status line display
These inputs allow adaptation to different instruments, sessions, and chart layouts while preserving the underlying strategy logic.
Development Methodology
The range models and projection logic were originally prototyped and tested in Python using historical market data. Variations in volume behavior, volatility structure, and session timing were evaluated to refine how ranges are constructed and how post-breakout behavior is measured.
The most stable rule sets were then implemented into Pine Script as a closed-source framework to maintain consistency and prevent discretionary reinterpretation of the strategy model.
Intended Use
This script is designed to function as a structured opening range breakout framework. It provides:
Defined breakout conditions based on opening range resolution
Directional bias confirmation via close-based breakout detection
Calculated risk and continuation zones derived from range structure
A repeatable, rules-based method for evaluating breakout setups
The script does not auto-execute trades and does not guarantee profitability. Default settings are provided as a starting configuration. Users are expected to evaluate and optimize parameters based on their own instruments, sessions, timeframes, and risk preferences.
Originality Statement
TradeX ORB Sniper is a proprietary framework.
While it incorporates widely known market concepts such as opening ranges and volume behavior, it applies them through an original internal rule structure governing:
How ranges are calculated
How breakouts are confirmed
How risk and continuation zones are derived
How all modes remain behaviorally consistent within a unified strategy model
It is not a mashup of public indicators and does not rely on built-in strategy templates or public-domain scripts.
Strategy Testing & Risk Controls (New)
To support systematic evaluation and controlled backtesting, the framework includes a dedicated risk management section designed specifically for use with the Strategy Tester.
Users can define:
Risk parameters applied directly to strategy tester executions, allowing comparison of different ORB variations under consistent risk assumptions.
A maximum contract size, which helps normalize results and prevents unrealistic position sizing in backtests.
These controls are intended to support research and optimization, allowing users to evaluate how different opening range constructions, filters, and risk constraints affect performance across historical data. The strategy tester functionality is not intended to be used as a blind signal generator, but as a tool for structured analysis and variation testing.
Additional Breakout Filtering (New)
An optional ORB Wick Rejection Filter has been added. When enabled, breakout conditions are filtered to only allow setups where price demonstrates a wick rejection at the defined opening range.
This filter is designed to help isolate breakout attempts where liquidity interaction occurs at the range boundary before continuation, reducing lower-quality breakout conditions while preserving the core breakout logic.
Visual Configuration
All major visual components of the framework can be customized through user inputs, including:
Risk zone color
Continuation (reward) zone color
Breakout (“Get Ready”) candle highlight color
Label font size
These options allow users to adapt the framework to different chart styles and layouts while keeping all calculations and execution logic unchanged.
Default Strategy Tester settings use realistic assumptions for position sizing, commission, and slippage to avoid overstating historical performance.
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