Description
Rook ORB & Key Levels Pro combines Opening Range Breakout (ORB) analysis, Initial Balance (IB), and higher-timeframe key levels into a single lightweight indicator designed for discretionary and professional traders.
Session Opening Ranges
Track independent Opening Range Breakouts for:
- Asian Session
- London Session
- New York Session
Breakout Confirmation Engine
Raw range breaks often produce false signals.
Each breakout can optionally require one or more confirmation conditions before it is considered valid. This allows traders to build anything from aggressive breakout entries to highly selective institutional-style confirmations.
False Breakout Detection
After a breakout is confirmed, the indicator continues monitoring price action.
If price closes back inside the Opening Range within the configured validation window, the breakout is automatically marked as a failed breakout.
This helps identify:
- Failed auctions
- Trap moves
- Liquidity grabs
- Rejected breakouts
instead of treating every breakout as successful.
Session Confluence Detection
Institutional moves frequently develop around previous session extremes.
The indicator automatically detects when a later session breaks near important levels from earlier sessions.
Initial Balance (IB)
Track Initial Balance independently for every supported session.
Features include:
- IB High
- IB Low
- IB Midpoint
- Configurable IB duration
Alerts
Optional breakout alerts include:
- Sound notification
- Platform log notification
Alerts trigger only on the first confirmed breakout for each session on each trading day to reduce unnecessary notifications.
Performance Optimized
The indicator is designed for efficient execution on large intraday datasets.
Typical Workflow
- Wait for the Opening Range to complete.
- Monitor confirmed breakouts using your selected confirmation filters.
- Watch for multi-session confluence around previous session highs and lows.
- Use Initial Balance and higher-timeframe levels as additional trade references.
- Monitor failed breakouts for potential reversal opportunities.
Tags
Opening Range Breakout, ORB, Initial Balance, Session Analysis, Key Levels, Previous Day High Low, Daily Open, New York Open, Liquidity Sweep, False Breakout, Multi Session, Price Action, Smart Money Concepts, Intraday Trading, Futures, Forex
Disclaimer
Rook ORB & Key Levels Pro is a technical analysis tool for informational purposes only. It does not provide financial or investment advice and does not guarantee trading results. Trading CFDs, Forex, Futures, Commodities, Indices, and Cryptocurrencies involves significant risk. All trading decisions and associated risks are the sole responsibility of the user. Castle Rook Trading accepts no liability for any losses arising from the use of this software.
Summary
The indicator features a breakout confirmation engine that allows users to apply customizable conditions to validate breakouts, reducing false signals. It continuously monitors price after breakout confirmation to detect false breakouts when price closes back inside the opening range within a configurable validation window, helping identify failed auctions, trap moves, liquidity grabs, and rejected breakouts.
Session confluence detection highlights when breakouts occur near significant levels from previous sessions, reflecting institutional trading behavior. The Initial Balance is tracked per session with configurable duration, showing IB high, low, and midpoint levels.
Optional alerts notify users of the first confirmed breakout per session via sound or platform log. The indicator is optimized for efficient performance on large intraday datasets.
Typical usage involves waiting for the opening range to complete, monitoring confirmed breakouts with selected filters, observing multi-session confluence, referencing IB and key levels, and watching for failed breakouts as potential reversal signals.
Supported markets include Futures and Forex. The tool provides visual and filter outputs based on bar, volume, and tick data.
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