GS_Opening-Range-V1 — Indicator by Futuraman

ORB Opening Range Breakout 5 and 3O Minute Indicator

Kudos to Chris Moody for the inspiration to create my first indicator.

The 5 and 30 run together at times but the scalp would be when the equity breaks the 5 go long or short for the scalp and when it breaks the 30 go for the swing trade.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Want to use this script on a chart?

study(title="GS_Opening-Range-V1", shorttitle="GS_OpenRnge-V1", overlay=true)

up30on = input(false, title="30 Minute Opening Range High")
down30on = input(false, title="30 Minute Opening Range Low")
up5on = input(true, title="5 Minute Opening Range High")
down5on = input(true, title="5 Minute Opening Range Low")
is_newbar(res) => change(time(res)) != 0 
adopt(r, s) => security(tickerid, r, s) 

high_range = valuewhen(is_newbar('D'),high,0)
low_range = valuewhen(is_newbar('D'),low,0)

high_rangeL = valuewhen(is_newbar('D'),high,0) 
low_rangeL = valuewhen(is_newbar('D'),low,0) 

up = plot(up5on ? adopt('5', high_range):na, color = lime, style=circles, linewidth=4)
down = plot(down5on ? adopt('5', low_range): na, color = #DC143C, style=circles, linewidth=4) 

trans30 = up30on ?  75 : 100
fill(up, down, color = white, transp=trans30)

up30 = plot(up30on ? adopt('30', high_rangeL): na, color = #7FFF00, style=circles, linewidth=2) 
down30 = plot(down30on ? adopt('30', low_rangeL): na, color = red, style=circles, linewidth=2)