Sessions & ORB Pro | Bifrost Institute

22 พ.ย.

Sessions & ORB Pro | BI

Professional Session Analysis and Opening Range Breakout Tracker

This advanced indicator provides comprehensive session tracking and Opening Range Breakout (ORB) analysis across multiple global trading sessions. Designed for intraday traders, this tool helps identify key support and resistance levels, session volatility patterns, and potential breakout opportunities.

Overview

Session-based trading is crucial for understanding market behavior, as different global sessions (US, European, Asian) exhibit distinct characteristics in terms of volatility, volume, and price action. This indicator allows traders to:

• Identify Session Highs and Lows: Track the boundaries of each trading session to spot key support/resistance levels
  
• Monitor Opening Range Breakouts: Capture the first 5, 15, or 30 minutes of major exchange openings to identify early directional bias
  
• Analyze Multi-Session Patterns: View up to 4 concurrent or sequential sessions with full historical data
  
• Customize Visual Analysis: Tailor colors, styles, and overlays for each session independently
  

Key Features

Multi-Session Support

• Configure up to 4 independent trading sessions (US, Europe, Asia, Custom)
  
• Fully customizable session times with timezone support (UTC offset, Chart timezone, or Exchange timezone)
  
• Daylight Savings Time adjustment for accurate session timing
  
• Session range boxes with adjustable transparency and outline styles
  
• Historical session tracking (1-20 previous sessions)
  

Opening Range Breakout (ORB)

• Track Opening Range for major exchanges: NYSE, LSE, TSE, TSX, ASX, HKEX, SSE
  
• Configurable ORB periods: 5-minute, 15-minute, or 30-minute ranges
  
• Visual ORB boxes with customizable colors and outline styles
  
• ORB High/Low lines with optional extension beyond session close
  
• Individual color control for each session's ORB
  

Session Analytics

• Session High/Low: Horizontal lines marking the session's price extremes
  
• Trendline: Linear regression trendline showing session directional bias
  
• Mean: Session average price for mean reversion analysis
  
• VWAP: Volume-weighted average price for institutional level analysis
  
• Range Boxes: Visual representation of each session's price range
  

Advanced Customization

• Individual Color Pickers: Set unique colors for each overlay type per session
  
• Line Styles: Choose between Solid, Dashed, or Dotted for all line types
  
• Label Options: Customize labels to show Date (d/M), Day of Week (ddd), and/or Price
  
• Extend Options: Extend Session H/L and ORB lines beyond current bar
  
• Outline Styles: Independent control of Range and ORB outline appearance
  

Information Dashboard

Optional real-time dashboard displaying:

• Session Status: Open/Closed indicator for each session
  
• Trend: R² correlation coefficient showing directional strength
  
• Volume: Cumulative session volume
  
• σ (Sigma): Session standard deviation for volatility analysis
  
• Range: Session High, Low, and Range in points
  
• ORB: Opening Range High, Low, and Range in points
  

Dashboard is fully customizable with toggleable columns and adjustable size/position.

Flexible Configuration

• Time Zone Management: Three modes for precise session timing
  
• Historical Display: Show/hide previous sessions for cleaner charts
  
• Label Customization: Independent label size and content options for Session H/L vs ORB
  
• Range Settings: Adjustable transparency, outlines, and label positioning
  

Use Cases

• Session Traders: Identify when specific markets are most active and volatile
  
• ORB Traders: Capture early session momentum and breakout opportunities
  
• Support/Resistance: Use session highs/lows as key price levels
  
• VWAP Strategies: Track institutional activity through session VWAP
  
• Multi-Market Analysis: Monitor overlap between global trading sessions
  

Default Configuration

The indicator comes pre-configured with US (NYSE), Europe (LSE), and Asia (TSE) sessions, making it immediately useful for forex, indices, and global equity traders. Session D is available for custom session requirements.

Perfect for day traders, scalpers, and swing traders who rely on session-based analysis and institutional order flow.

23 พ.ย.

เอกสารเผยแพร่

Changes:

• Sessions can now include weekends (configurable).
  
• Fixed a bug with the dashboard evaluating on the last candle instead of the current time.
  

23 พ.ย.

เอกสารเผยแพร่

Changes:

• Added fill logic to show where price sweeps session highs/lows.
  
• H/L fills can be shown with an icon or removal of the level.
  

Bug Fixes

• Fixed an issue with incorrect timezone value.
  

24 พ.ย.

เอกสารเผยแพร่

Bug Fixes:

• Fixed an issue with mean not rendering correctly.
  
• Fixed an issue with visible historical sessions and artefacts not being calculated correctly.