Ultimate Opening Range Breakout
By LuxAlgoApr 8, 2026
Ultimate Opening Range Breakout is an indicator on Vela, our next-generation charting platform, written in Pine Script®.
Ultimate Opening Range Breakout is the house's full-workflow take on the opening range breakout: it brackets the high and low from a user-defined window, prints volume-graded break signals the moment price escapes, projects expansion targets sized to the range, and manages the position with an ATR trailing stop, while a dashboard logs how often each target has historically been reached.
How to Trade the Ultimate Opening Range Breakout?
- BULL BREAK / BEAR BREAK: printed when price clears the opening range high or low.
- (HV) and (LV) tags: break volume above or below the 20-period average. High-volume escapes carry conviction, low-volume ones fail more easily.
- Expansion targets: profit-planning levels scaled to the range's size, adapting to each day's volatility.
- Hit Rate dashboard: how often Targets 1-3 have been reached historically, a reality check for exits.
- The range's POC: an internal volume profile reveals the volume point of control of the opening range. Breaks holding away from it suggest acceptance; quick returns warn of failure.
The ATR trailing stop adapts to volatility, while the Stop Optimizer simulates five multiplier settings to show which held up best on past data.
Ultimate Opening Range Breakout Settings
- Opening Range Session and Timezone: the window that forms the range (0930-1000 is a common choice) and its clock.
- Range Source: High/Low wick extremes, or Close to build the range from candle bodies (each bar's open and close) for a tighter range.
- Extension Type: Multiples of the range or Fibonacci levels (0.382, 0.618, 1.0).
- Number of Rows: the volume profile's resolution, the number of price rows the opening range is divided into.
- ATR Multiplier and Show Stop Optimizer: trailing stop sensitivity, plus the five-setting comparison engine.
- End Plotting At: stop drawing at a chosen market close to keep charts clean.
Frequently Asked Questions
Free to use
Run it on Vela. Go further with a paid plan.
- Up to 500 strategy alerts, with webhook automation
- Up to 10× the chart history of Free
- Orderflow lookback up to full history
- More Quant usage to customize it, plus extra usage when you need it
- Futures data alongside crypto, stocks, forex and commodities
Also works on
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