ORB Pro

//@version=5
indicator("Madstocks-ORB Pro", overlay=true)

// Input parameters
orb_minutes = input.int(30, title="Opening Range Minutes", minval=5, maxval=120)
show_labels = input.bool(true, title="Show Breakout Labels")
show_targets = input.bool(true, title="Show Target Lines")
alert_enabled = input.bool(true, title="Enable Alerts")

// Colors
bull_color = input.color(color.green, title="Bullish Break Color")
bear_color = input.color(color.red, title="Bearish Break Color")
range_color = input.color(color.gray, title="Opening Range Color")

// Variables
var float or_high = na
var float or_low = na
var bool or_set = false
var bool bull_break = false
var bool bear_break = false

// Check if it's a new trading day
is_new_day = ta.change(dayofweek)

// Reset variables at start of new day
if is_new_day
    or_high := na
    or_low := na
    or_set := false
    bull_break := false
    bear_break := false

// Get session start time (9:30 AM EST)
session_start_hour = 9
session_start_minute = 30

// Check if we're in the opening range period
current_hour = hour(time, "America/New_York")
current_minute = minute(time, "America/New_York")
minutes_since_open = (current_hour - session_start_hour) * 60 + (current_minute - session_start_minute)

in_opening_range = current_hour >= session_start_hour and minutes_since_open >= 0 and minutes_since_open <= orb_minutes

// Build opening range
if in_opening_range and not or_set
    if na(or_high)
        or_high := high
        or_low := low
    else
        or_high := math.max(or_high, high)
        or_low := math.min(or_low, low)

// Mark opening range as complete
if not in_opening_range and not na(or_high) and not or_set
    or_set := true

// Calculate targets
or_range = or_set ? or_high - or_low : na
target_high = or_set ? or_high + or_range : na
target_low = or_set ? or_low - or_range : na

// Detect breakouts
bullish_break = or_set and close > or_high and not bull_break
bearish_break = or_set and close < or_low and not bear_break

// Set breakout flags
if bullish_break
    bull_break := true
    
if bearish_break
    bear_break := true

// Plot opening range lines
plot(or_set ? or_high : na, title="OR High", color=range_color, linewidth=2, style=plot.style_line)
plot(or_set ? or_low : na, title="OR Low", color=range_color, linewidth=2, style=plot.style_line)

// Plot target lines
plot(show_targets and or_set ? target_high : na, title="Target High", color=bull_color, linewidth=1, style=plot.style_linebr)
plot(show_targets and or_set ? target_low : na, title="Target Low", color=bear_color, linewidth=1, style=plot.style_linebr)

// Background color for opening range period
bgcolor(in_opening_range ? color.new(range_color, 90) : na, title="Opening Range Period")

// Breakout signals
plotshape(bullish_break, title="Bull Break", location=location.belowbar, style=shape.triangleup, size=size.normal, color=bull_color)
plotshape(bearish_break, title="Bear Break", location=location.abovebar, style=shape.triangledown, size=size.normal, color=bear_color)

// Labels for breakouts
if show_labels and bullish_break
    label.new(bar_index, high, "BULL BREAK", color=bull_color, textcolor=color.white, style=label.style_label_down, size=size.normal)

if show_labels and bearish_break
    label.new(bar_index, low, "BEAR BREAK", color=bear_color, textcolor=color.white, style=label.style_label_up, size=size.normal)

// Alerts
if alert_enabled and bullish_break
    alert("Bullish Opening Range Break", alert.freq_once_per_bar)
    
if alert_enabled and bearish_break
    alert("Bearish Opening Range Break", alert.freq_once_per_bar)

// Range fill
fill(plot(or_set ? or_high : na, display=display.none), plot(or_set ? or_low : na, display=display.none), color=color.new(range_color, 95), title="OR Range Fill")