ORB Detection and Labels

Overview
ORB Detection and Labels is a comprehensive Opening Range Breakout (ORB) indicator designed for Indian market traders focusing on indices and stocks. This advanced tool automatically calculates critical trading levels based on the first 15 minutes of trading (09:15-09:30 IST) and provides precise entry, target, and stop-loss levels.

Key Features
Dual Operating Modes:

Auto Mode: Automatically detects and calculates ORB during market hours on 1/3/5/15-minute charts

Manual Mode: Allows custom ORB input for any timeframe including daily, weekly, and higher timeframes

Precision Trading Levels:

2 Buy Entry Levels

2 Sell Entry Levels

Dynamic Stop Loss levels

3 Target levels per direction

Visual Clarity:

Color-coded horizontal lines for instant recognition

Customizable label positioning to avoid chart clutter

Real-time info panel displaying all critical levels and status

Clean, professional interface with adjustable colors

Smart Alert System:

Configurable alerts for entry levels, stop losses, and targets

Non-repainting alerts that fire on bar close

Separate toggles for entry, target, and SL alerts

How It Works
ORB Calculation: During 09:15-09:30 IST, the indicator tracks the high and low to establish the Opening Range

Level Generation: After 09:30, it calculates buy/sell entries, stop losses, and targets using proprietary Fibonacci ratios

Visual Display: Lines extend across the chart with labels positioned for easy reading

Daily Reset: Automatically resets each trading day for fresh analysis

Ideal For
Intraday traders

Swing traders using manual ORB input on daily charts

Traders following opening range breakout strategies

Those seeking clear, mechanical entry and exit levels

Technical Specifications

Works on all symbols

Best suited for 1, 3, 5, and 15-minute timeframes in Auto mode

Manual mode supports all timeframes

Timezone: GMT+5:30 (IST)

Unique Advantages
✅ No repainting - all calculations finalize after ORB session closes
✅ Customizable colors and label positions
✅ Built-in risk management with defined SL levels
✅ Multiple profit targets for partial exit strategies
✅ Works across timeframes with manual override option
✅ Professional info panel with real-time status updates

Settings
ORB session timing (default: 09:15-09:30, 15 minutes)

Manual ORB high/low inputs

Label offset adjustment

Toggle targets, labels, info table

Alert preferences

Complete color customization

Perfect for traders who value precision, clarity, and systematic trading approaches based on proven ORB methodology.
This Script is Just for Educational Purpose. Please test it as per your risk. This is not a recommendation.