A comprehensive trading indicator that combines VWAP, EMAs, and New York Opening Range Breakout to help traders analyze market sentiment, trends, and potential breakout opportunities.
Explore complementary indicator rolesHow it works
The indicator calculates the Opening Range Breakout (ORB) by identifying the high and low price points within the first 15 minutes of the New York trading session. It then plots these levels on the chart to help traders recognize potential breakout opportunities and market sentiment during this critical time period.
Simultaneously, the indicator computes the Volume Weighted Average Price (VWAP) and four Exponential Moving Averages (9, 21, 50, and 200 periods). These additional technical tools provide traders with insights into average price action, trend direction, and potential support and resistance levels throughout the trading session.
Why it may be useful
By consolidating multiple technical analysis tools into a single indicator, traders can quickly assess market dynamics without cluttering their charts with numerous overlays. The combination of ORB, VWAP, and EMAs offers a comprehensive view of price action, helping traders make more informed decisions about market entry and exit points.
The indicator is particularly valuable for Basic TradingView users who are limited to a single indicator, as it provides a multi-dimensional analysis of market trends, volume, and potential breakouts. This comprehensive approach allows traders to understand market sentiment and momentum more effectively than using individual indicators in isolation.
When to explore it
The indicator is most effective during the New York trading session, where market volatility and liquidity are typically at their highest. Traders can use the Opening Range Breakout to identify initial market sentiment and potential trend directions within the first 15 minutes of trading.
The VWAP and EMA lines are particularly useful for confirming trends, identifying potential support and resistance levels, and making more precise trading decisions. Scalpers and day traders will find this indicator most beneficial, as it provides rapid insights into short-term market movements and helps in making quick, informed trading choices.
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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.
![Opening Range with Breakouts & Targets [LuxAlgo] chart preview](https://s3.tradingview.com/f/fCqLTp6r.png?v=1726578603)