A trading indicator that plots the New York Opening Range and detects potential fakeouts during the first 15 minutes of the NY trading session, helping traders identify early market movements.
Explore complementary indicator rolesHow it works
The NY ORB indicator automatically calculates the opening range during the first 15 minutes of the New York trading session, establishing high and low price levels. It creates a visual box representing this initial trading range, marking the boundaries where significant price action may occur.
Once the range is established, the indicator actively monitors for potential fakeouts, which are price movements that briefly breach the range but then quickly return inside. When a fakeout is detected, the indicator will mark the event with visual indicators like 'Fake ↑' or 'Fake ↓', signaling potential trap zones for traders.
Why it may be useful
The NY ORB indicator provides traders with a precise method to understand early market volatility and potential price manipulation during the critical New York session opening. By highlighting potential fakeouts, it helps traders avoid false breakouts and make more informed trading decisions.
This tool is particularly valuable for identifying early market sentiment, revealing potential traps, and offering insights into institutional trading behavior. It enables traders to recognize when price movements might be deceptive, thus reducing the risk of entering trades based on misleading signals.
When to explore it
The NY ORB indicator is most effective for intraday traders focusing on short-term, high-probability trading opportunities during the New York session's initial volatility. It works best for traders seeking to capitalize on quick market movements and avoid false breakouts.
Traders should use this indicator in conjunction with other technical analysis tools like moving averages, volume indicators, or trend indicators to confirm signals and increase trading accuracy. It is particularly useful for scalpers and day traders who require precise, timely information about market dynamics.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
