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

1. Wait for the Opening Range to complete.
2. Monitor confirmed breakouts using your selected confirmation filters.
3. Watch for multi-session confluence around previous session highs and lows.
4. Use Initial Balance and higher-timeframe levels as additional trade references.
5. 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.