What is Opening Range Breakout?
Opening Range Breakout draws the high and low of the first bars of each session as a box labelled ORB. The box extends to the end of the session, and an arrow marks the first close above the range and the first close below it.
A session starts at 00:00 UTC by default, the crypto day. The opening range is one bar by default, so on a one hour chart it is the opening hour. Both are settings, so you can set the range to the first 30 minutes of a New York session on a five minute chart.
This is a closed-source premium script. It runs on Altrady's servers, so only its output reaches your chart and its code is not published.
How to use Opening Range Breakout
- A close above the range. The classic opening range breakout long. A close through the high is read as the session choosing a side.
- A close below the range. The mirror, read as a bearish session.
- No breakout. A range that is never broken shows a session where price stayed stuck. It stays on the chart as context.
- The midline. With Show Midline on, the 50% level of the range marks the equilibrium price returns to before it chooses a side.
Settings
Session
| Setting | Default | Range | What it changes |
|---|---|---|---|
| Session Start | 0000 | When the session opens, in HHMM UTC. 0000 is midnight UTC (a crypto day). 1430 is the NYSE open during EST. Adjust for DST manually. §4.8 applies. | |
| Range Bars | 1 | 1 to 100 | How many bars define the opening range. On a 5m chart, 6 bars is 30 minutes; on 1h, 1 bar is the opening hour. The range is set by these bars and never widens afterward. |
Display
| Setting | Default | Range | What it changes |
|---|---|---|---|
| Max Ranges | 5 | 1 to 50 | The oldest range is removed past this. |
| Show Labels | On | Mark the range with 'ORB' at its anchor. | |
| Show Breakout Markers | On | An arrow on the first close beyond each side of the range. | |
| Show Midline | Off | The 50% level of the opening range: the equilibrium the market returned to before it chose a side. | |
| Show Border | On | ||
| Show State Pane | Off | A sub-pane counting live ranges and pulsing on each breakout. The tool's internal state, and what the automated checks read. |
Colours
| Setting | Default | Range | What it changes |
|---|---|---|---|
| Range | #2962ff | The opening range box. | |
| Bullish Breakout | #089981 | The marker for a close above the range. | |
| Bearish Breakout | #f23645 | The marker for a close below the range. | |
| Midline | #787b86 | The 50% level. | |
| Label | #b0b3b8 |
Alerts: orb_bullish, orb_bearish.
How it works
When a session starts, the script takes the high and low of its first Range Bars bars. After those bars the range is fixed and never widens; any trade beyond it is a breakout attempt, not a range extension. Range Bars is counted in bars rather than minutes, so the tool works the same way on any timeframe.
A breakout is a close beyond the range, not a wick. A wick into the level is an attempt and a close through it a commitment. Only the first breakout on each side is marked, and its alert fires on that bar.
The range ends when the next session starts. It stays on the chart until Max Ranges, five by default, pushes it off.
Limitations
- Set the bar count yourself. Range Bars is in bars. On a five minute chart, a 30 minute range needs a value of 6; on a one minute chart, 30.
- Daylight saving is manual. Session Start is in UTC. A stock market open shifts by an hour when its clocks change, and you adjust it yourself.
- Only the first breakout per side. A breakout that fails and is retried later in the session is not marked again.
- False breakouts happen. A close beyond the range can reverse straight back inside it. The script does not track what happens after the first close.
- Crypto has no official open. The default session is the UTC day. For crypto, which trades around the clock, the opening range is a convention rather than a real market open.
Get Opening Range Breakout
Premium scripts are a one-time purchase in the Altrady marketplace and need a paid Altrady plan to run.
- Opening Range Breakout $7 This script on its own.
- Levels & Trendlines bundle $19 5 premium scripts, Opening Range Breakout included.
- Altrady Complete Suite $109 All 36 premium scripts.
Frequently asked questions
A strategy idea built on the high and low of the first part of a session. A close above that range is read as bullish and a close below as bearish.
Set Range Bars to the number of bars that make 30 minutes on your chart, such as 6 on a five minute chart. Set Session Start to the session's open in UTC, such as 1430 for the NYSE open in winter.
No. The range is fixed once its bars are complete, and breakout markers are placed on closed bars.
Two. orb_bullish fires on the first close above the range and orb_bearish on the first close below it.
Yes. Opening Range Breakout is a closed-source premium script. It runs on Altrady's servers, so only its output reaches your chart and the code is never shared. You buy it once in the Altrady marketplace, on its own, in the Levels & Trendlines bundle or in the Altrady Complete Suite, and it needs a paid Altrady plan to run. It is also included with your first annual Premium subscription.
Use the Get it in Altrady button on this page to open its listing in the Altrady marketplace. Once it is in your account, open the indicator picker on any chart in Altrady Charts and add Opening Range Breakout like any other indicator. Its settings are in the indicator's settings panel.