BFAS76 Charts - ORB V5.1

BFAS76 Charts - ORB V5.1 | Opening Range Breakout Strategy

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OVERVIEW

A professional grade Opening Range Breakout (ORB) indicator with multi layer filtering, dynamic trade management, and full automation support. Designed for intraday traders seeking high probability setups with institutional level risk control.

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CORE STRATEGY

The indicator identifies the Opening Range (high/low) during a configurable time window, then trades breakouts above/below that range when all confluence filters align.

• LONG Entry: Price breaks above ORB High + all filters bullish
• SHORT Entry: Price breaks below ORB Low + all filters bearish

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ENTRY FILTERS (Multi-Layer Confluence)

1. EMA Crossover (9/21)
- LONG: EMA 9 > EMA 21
- SHORT: EMA 9 < EMA 21

2. EMA 50 Filter (Optional)
- LONG: Close > EMA 50
- SHORT: Close < EMA 50

3. EMA 238 Filter (Optional)
- LONG: Close > EMA 238
- SHORT: Close < EMA 238

4. Weekly VWAP Filter (Optional)
- LONG: Close > Weekly VWAP
- SHORT: Close < Weekly VWAP

5. Volume Confirmation
- Current volume > 5 period average volume

6. Range Validation
- ORB range must exceed minimum threshold

7. Time Window
- Entries only allowed before configurable hour limit

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TRADE MANAGEMENT

Stop Loss Modes:
• ATR Based: Entry ± (ATR × Multiplier)
• Swing Based: Recent swing high/low

Take Profit Levels:
• TP1: Configurable R:R (default 1:1)
• TP2: Configurable R:R (default 1:3)

Trailing Stop Logic:
• Activates after TP1 is hit
• Moves to Break-Even (or TP1 level)
• Dynamic trailing using ATR multiplier

Position Policies:
• Lock: Hold until SL/TP exit
• Flip: Allow direction reversal
• Pyramid: Allow same direction additions

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VISUAL FEATURES

• ORB High/Low/Mid levels
• Entry, SL, TP1, TP2, TSL lines and labels
• Daily High/Low historical levels with gradient
• Weekly VWAP and Anchored VWAP
• EMA ribbon (9, 21, 50, 238)
• Buy/Sell signal markers
• Bullish/Bearish context arrows

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ALERTS SYSTEM

Telegram Style Alerts:
• New Entry (with Entry, SL, TP1, TP2, Risk)
• TP1 Hit (partial close reminder)
• Trade Closed (SL, TP2, or TSL with exit price)

PineConnector Automation:
• Full integration for MT4/MT5 execution
• Entry, modify SL, and close commands
• JSON or Key Value message format

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RECOMMENDED SETTINGS

Timeframe: 5M, 15M (Intraday)
Markets: Forex, Indices, Crypto
Session: London/New York open

Default ORB Window:
• Start: 15:30 (UTC+1)
• Duration: 15 minutes
• Entry Limit: Before 24:00

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DISCLAIMER

This indicator is for educational purposes only.
Past performance does not guarantee future results.
Always use proper risk management and test thoroughly before live trading.

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