CrestAlgo: Session ORBCrestAlgo: Session ORB
I built this because most opening-range scripts I tried either repainted their breakout signals, anchored the session to the wrong timezone, or buried the chart under so much styling that the range itself got lost. Session ORB is my attempt at a clean, honest version: it draws the opening range, marks the first real breakout, and otherwise stays out of the way.
The method itself isn't new. The Opening Range Breakout was formalized by Toby Crabel back in the late 1980s, and the logic has held up because it's grounded in something real: the first stretch of a session is where the day's initial supply-and-demand balance gets set. Once that range is established, how price treats it — breaking out and continuing, or breaking out and failing back into the range — is genuinely useful context. This script doesn't try to improve on the method or dress it up as a system. It just implements it carefully.
What it draws
The opening range high and low for your chosen session, shown as a translucent box so you can see price interact with the edges without losing the candles behind it.
A directional marker on the first candle that closes beyond the range — an up marker below the bar for an upside break, a down marker above the bar for a downside break. The "closes beyond" part matters: a wick poking through the range and snapping back is not a breakout, and the script doesn't treat it as one. It waits for a close.
Why non-repainting matters here
This is the part I care most about. A lot of opening-range scripts will show you a breakout marker mid-bar, then quietly move or remove it if the bar reverses before closing. That makes the indicator look far more accurate in hindsight than it ever was in real time. Session ORB doesn't do that. The marker is committed only when a bar closes beyond the range, and once it's placed it never moves, repaints, or disappears on a reload. What you see reviewing the chart later is exactly what you'd have seen live. If you're going to trust a tool's history at all, that property is the baseline.
Settings
Opening-range period: 5, 15, or 30 minutes (default 15). Shorter ranges react sooner but break more often on noise; longer ranges are slower but cleaner. Match it to how the instrument actually moves.
Session start time, fully configurable, so you can anchor it to whatever session you trade.
Timezone, defaulting to America/New_York. This is a deliberate choice and worth explaining: CME's exchange timezone is Central, so if a script naively uses "exchange time," your New York session anchors an hour off without any obvious sign that it's wrong. Defaulting to New York time avoids that trap. You can override it if you trade a different session.
Styling for the box and markers — colors and transparency — kept minimal on purpose.
Honest limitations
This is a framing tool, not a forecast. A breakout marker tells you a breakout happened; it says nothing about whether it'll continue. Continuation and failure both happen regularly, and reading which is which is on you.
For the session to anchor accurately, use it on intraday timeframes at or below your range period — a 15-minute range wants a 15-minute chart or lower, not an hourly.
It draws levels and marks a price event. It does not tell you when, what, or whether to trade, and it generates no buy or sell signals.
Where this is going
Session ORB is the free, open-source foundation of a larger ORB toolset I'm building under CrestAlgo. The advanced version in development adds multi-session ranges (Tokyo, London, New York on one chart), R-multiple target projections measured from the range height, retest and failed-breakout detection, and a session statistics panel describing how the range has behaved historically on the chart. If that's useful to you, following the CrestAlgo profile is the way to catch new releases as they go out.
Disclaimer
This indicator is an educational and analytical tool. It is not financial advice, not a recommendation to buy or sell, and it does not generate trading signals. Trading futures and other leveraged instruments carries substantial risk of loss and isn't suitable for everyone. The way price has behaved around opening ranges in the past does not guarantee how it will behave in the future. Every trading decision you make is your own. CrestAlgo (a trade name of Sky Pioneers) is a software publisher, not a registered investment adviser, and is not regulated by the AFM.
© CrestAlgo (Sky Pioneers, KVK 92956076) · crestalgo.com · Licensed under MPL-2.0
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