ORB with Range Context
Jan 2, 2026
The ORB with Range Context indicator plots the Opening Range boundaries during a user-defined market open session and provides a volatility-based classification to determine the significance of the range. This tool helps traders identify potential intraday support and resistance levels while assessing whether an opening range is narrow, normal, or wide relative to recent price action.
Usage
The indicator is primarily used on intraday timeframes (such as 1-minute to 5-minute charts) to establish the initial balance of the trading day. Once the user-defined session window closes, the indicator plots the High and Low boundaries.
- Breakout Trading: A breakout is confirmed when price closes above the ORB High or below the ORB Low.
- Range Quality Context: Use the "Range Quality" classification to set expectations. A Narrow range suggests price compression and potential for a strong trending move. A Wide range suggests high initial volatility, indicating that a significant portion of the day's move may have already occurred.
- Target Management: Upon a confirmed breakout, the indicator projects three target levels based on multiples of the opening range.
- Midline Support/Resistance: The optional midline can be used as a level for pullbacks or as a secondary confirmation for intraday trend strength.
Details
The indicator identifies the highest high and lowest low during the specific "ORB Session Window." It then calculates the range (High - Low) and compares it to the Average True Range (ATR).
The classification logic is as follows:
- NARROW: Range < (ATR * Narrow Threshold). Indicates high potential for expansion.
- NORMAL: Range between Narrow and Wide thresholds. Represents standard opening behavior.
- WIDE: Range > (ATR * Wide Threshold). Indicates unusual volatility, often seen during news events or large gaps.
Settings
Opening Range Settings
- ORB Session Window: Defines the start and end time for capturing the range (e.g., 0915-0920 for NSE or 0930-0945 for US markets).
- ORB High/Low Color: Customizes the color of the range boundaries.
- Show Midline: Toggles the visibility of the range's midpoint.
Target Projection
- Show Targets on Breakout: Enables price targets after a confirmed close outside the range.
- Target 1/2/3 (x Range): Multipliers that determine the distance of target projections based on the size of the opening range.
Range Quality Analysis
- ATR Period: The lookback period for the Average True Range calculation (default is 14).
- Narrow Threshold: The ATR multiple below which a range is considered "Narrow."
- Wide Threshold: The ATR multiple above which a range is considered "Wide."
FAQ
How do I access the ORB with Range Context?
You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.
What timeframes work best with this indicator?
This indicator is designed for intraday use only. It is best suited for the 1-minute, 3-minute, or 5-minute timeframes to capture precise breakout closes.
Why does the indicator show "Narrow" range?
A "Narrow" classification means the current opening range is small compared to the instrument's recent average volatility. This often precedes a breakout with significant momentum.
Trading & investing are risky and many will lose money in connection with trading and investing activities. All content on this site is not intended to, and should not be, construed as financial advice. Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Past performance does not guarantee future results.
Hypothetical or Simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, including, but not limited to, lack of liquidity. Simulated trading programs in general are designed with the benefit of hindsight, and are based on historical information. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.
Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.
As a provider of technical analysis tools and strategies, we do not have access to the personal trading accounts or brokerage statements of our customers. As a result, we have no reason to believe our customers perform better or worse than traders as a whole based on any content, tool, or platform feature we provide.
Charts used on this site are by TradingView in which the majority of our technical indicators are built on. TradingView® is a registered trademark of TradingView, Inc. www.TradingView.com TradingView® has no affiliation with the owner, developer, or provider of the Services described herein.
Market data is provided by CBOE, CME Group, BarChart, Massive, CoinAPI. Select U.S. equities data is provided through Massive. CBOE BZX real-time U.S. equities data is licensed from CBOE and provided through BarChart. Real-time futures data is licensed from CME Group and provided through BarChart. Select cryptocurrency data, including major coins, is provided through CoinAPI. All data is provided “as is” and should be verified independently for trading purposes.
This does not represent our full Disclaimer. Please read our full disclaimer.
© 2026 LuxAlgo Global, LLC.