FreeOpen sourcePine Script v6
Record the high and low formed during a configurable interval after the open, while preserving how the envelope expanded through time. At lock, classify the formation from width context, path efficiency, close location and expansion structure, then track accepted departure, re-entry and opposite-edge traverse in sequence.
A conventional opening-range plot chiefly preserves the high and low established after the open. This intraday research indicator also records two to eight cumulative envelopes, final-extreme order, close-path efficiency, early and late expansion, and width context versus prior completed ranges. It is not a trading signal.
The developing or locked main box; high, low, midpoint and research-equilibrium rails; cumulative trace boxes; optional opening price; formation class; final high/low times; accepted-departure, re-entry and traverse annotations; and a fixed research card. Colors do not mean buy or sell.
Starting from the selected session open, lower-timeframe samples update high, low, open, close, HLC3 and volume. Path efficiency divides absolute open-to-final-close displacement by the first sample’s absolute close-minus-open move plus subsequent absolute close-to-close moves. Close location, expansion skew, late expansion share and early width share then enter a deterministic classification. Width percentile compares the current completed measure with prior history before appending it and remains unavailable with fewer than five prior values.
Each of the two to eight boxes carries the observed high and low through that point in clock time. The slices do not reset, so overlapping boxes are not independent evidence.
Upper-led drive, lower-led drive, late upper, late lower, late two-sided, rotational, two-sided and mixed are tested in that order. The class describes the same completed observations; it does not predict the next move.
The first side with the configured consecutive departure samples is accepted. A later sample can re-enter across that side’s boundary, and only a still-later sample can reach the opposite edge. Reference projection also sets the evidence-tracking deadline.
Add the public script to a standard intraday chart and first identify the default 15-minute main box, high/low rails, cumulative trace and research card. Change one display component at a time.
Open the public Opening Range Formation Trace – ORB & Initial Balance page and add it to a TradingView chart. No SG Group account is required.
Overlapping lines, bands, backgrounds or tables can be duplicate drawings of the same kind of information. Never treat visual overlap by itself as stronger evidence or signal agreement. Other opening-range, Initial Balance, session-shading, prior-high/low, VWAP, horizontal-level and fixed-panel tools can duplicate the same time window and rails. Cumulative trace boxes are not separate ranges. Overlap is not confluence or a stronger signal.
Do not conclude from final width alone. Separate the cumulative expansion path, open-to-close path efficiency, historical width percentile and sequenced post-range events.
Choose US equities, Tokyo, London, CME equity RTH, Exchange Time or a custom IANA session. Standard intraday charts are supported. The default 15 minutes is an opening-range workflow; setting 60 minutes produces an Initial Balance-style observation, not a separate calculation engine.
Read upper, lower, two-sided or neutral cumulative expansion first. After lock, read width percentile (PCTL), path efficiency (EFF), late expansion (LATE) and the formation class. Percentile is not probability or win rate.
Read accepted above/below (A↑ / A↓), re-entry (R), then opposite-edge traverse (X). Re-entry is a close back across the departed boundary; it does not require a close strictly inside both range edges.
The range is forming, finalized, or first observed after its configured start. PARTIAL disables classification, width history and evidence.
Historical width percentile / open-to-close path efficiency / share of range added after halfway; not probability or win rate.
The cumulative envelope expanded upward only, downward only, both ways or neither in that slice.
A compact view of the eight deterministic formation classes; it does not forecast direction.
The first accepted departure above or below after the configured basis, buffer and consecutive confirmations.
Re-entry after the first accepted departure / a later reach of the opposite edge.
The effective lower-timeframe sample, or coarser chart-bar fallback when lower-timeframe data was unavailable.
The labels below match the published script’s English Inputs panel. Defaults reflect the public source at the time of review and may change in a later TradingView update.
On small screens, each input is reformatted as a readable stacked card.
| Input label | Default / options | What it controls and when to adjust it |
|---|---|---|
Language | English; options: English | Japanese | Switches chart labels, the research card and notices between English and Japanese. Input names in Settings remain bilingual in either mode. |
Intrabar sampling | 1; options: 1 | 3 | 5 | 15 | Selects the minute intrabar used for formation, extreme chronology, range-end attribution and post-range events. Finer sampling improves resolution but remains limited by symbol history and the user's plan. A selection above the chart timeframe, including on second charts, falls back to the chart timeframe. |
Historical rendering | Visible chart (adaptive); options: Visible chart (adaptive) | Most recent sessions | Chooses the historical drawing policy. Visible chart (adaptive) rebuilds sessions intersecting the viewport after scroll or zoom and keeps the newest intersecting sessions when over budget. Most recent sessions retains a traditional latest-first rolling window. |
Maximum rendered sessions | 30; range: 1-40 | Caps retained session drawings without limiting the underlying calculations. Adaptive mode keeps the newest sessions intersecting the viewport; recent-session mode keeps the latest sessions. |
Intrabar history request | 100000; options: 50000 | 100000 | 125000 | 200000 | Sets the lower-timeframe bars requested from TradingView. Larger requests can extend precise history but consume more resources; actual coverage remains plan- and symbol-dependent and is not guaranteed. |
Confirmed chart-bar fallback beyond intrabar history | true | Uses a confirmed historical chart bar as a coarse sample when intrabars are unavailable and the chart timeframe fits within the range duration. Coarse sessions are identified explicitly; realtime never uses this fallback and continues with completed intrabars only. |
Width percentile context | 20; range: 5-100 | Sets the retained prior complete ranges used to rank the current width for the same configured session. A percentile requires at least five prior observations; the current value is appended only after ranking, and partial sessions are excluded. |
Width comparison basis | Percent of opening price; options: Percent of opening price | Raw price | Chooses opening-price percentage or native price units for width percentiles. Percentage improves comparability across changing price levels; Raw price preserves native units. It does not change formation classification or the plotted range edges. |
| Input label | Default / options | What it controls and when to adjust it |
|---|---|---|
Session preset | US Equities 09:30 New York; options: US Equities 09:30 New York | Tokyo Cash 09:00 Tokyo | London Cash 08:00 London | CME Equity RTH 08:30 Chicago | Exchange Time 09:30 | Custom | Selects the opening anchor and timezone: New York 09:30, Tokyo 09:00, London 08:00, Chicago 08:30, exchange timezone 09:30, or Custom. Only Custom uses the custom timezone, hour and minute below. Presets are reference anchors, not holiday or early-close calendars. |
Custom IANA timezone | America/New_York | Sets the IANA timezone used only when Session preset is Custom. Valid region names such as America/New_York apply the timezone's daylight-saving rules. |
Custom open hour | 9; range: 0-23 | Sets the local opening hour, in 24-hour time, when the Custom preset is selected. It combines with the Minute setting. |
Minute | 30; range: 0-59 | Sets the local opening minute for the Custom preset. It is paired with Custom open hour and is inactive for other presets. |
Range duration (minutes) | 15; range: 1-240 | Sets the opening-range duration from the session start. A sample is included only when it starts inside the range and closes no later than the range end. The duration drives locking, classification checkpoints and trace timing. |
Reference projection (minutes) | 390; range: 15-1440 | Sets how long range references and post-range evidence remain active from the session open. Evidence runs from the range end to this projection end. Values below the range duration are automatically raised to the range duration. |
Active day mask | 23456 | Filters the local session-start day using TradingView day numbers: 1 Sunday through 7 Saturday, with 23456 meaning Monday-Friday. It is a numeric mask, not a market-holiday calendar. |
| Input label | Default / options | What it controls and when to adjust it |
|---|---|---|
Show opening-range box | true | Shows the main box from session start to range end, updating with the developing high and low and adopting the formation color at lock. Disabling it does not stop calculations, classification, Data Window outputs or evidence. |
Show cumulative formation trace | true | Shows time-sliced cumulative high-low envelopes. Each box preserves the range reached up to that checkpoint rather than an independent mini-range. Turning it off affects drawings only, not classification checkpoints. |
Trace time slices | 4; range: 2-8 | Sets the cumulative trace slice count and is active only when the trace is shown. Empty slices carry forward the last envelope at lock. The halfway and early classification checkpoints are independent of this visual count. |
Show locked high and low | true | Shows developing, then locked, high and low boundary lines from the session start through the projection end. Hidden boundaries remain active in calculations and evidence. |
Show midpoint | true | Shows the arithmetic midpoint between the range high and low, updating during formation and locking afterward. It always uses a dashed one-pixel line and ignores Reference line style. |
Show session open | false | Shows the first eligible sample's opening price from session start through the projection end. It is off by default and uses a fixed dotted one-pixel style. |
Show research equilibrium | true | Shows the selected equilibrium while it develops and through the projection after lock. This controls the chart line; the equilibrium remains a descriptive research value rather than a signal. |
Equilibrium method | Volume-weighted mean; options: Volume-weighted mean | Mean price | Midpoint | Opening price | Chooses the equilibrium method when its line is enabled. Volume-weighted mean weights sampled HLC3 by positive volume and falls back to the arithmetic HLC3 mean when volume is unusable; the other choices are arithmetic HLC3, range midpoint and session open. |
Show completed formation label | true | Shows a label at range lock with formation, width percentile, path efficiency and late expansion. A session first seen after its start is labeled partial and has classification and evidence disabled. Hiding the label does not disable calculations. |
Completed formation label detail | Compact; options: Compact | Detailed | Chooses a compact single-line or visible multi-line formation label. Compact retains the full metrics, width, close location, skew, early share and resolution in its tooltip. It is active only when the completed label is shown. |
Show final extreme times | false | Shows H and L labels at the sampled intervals where the final range high and low were first recorded. It applies only to complete sessions; chronology is limited by sampling resolution and cannot resolve order inside one sample. |
| Input label | Default / options | What it controls and when to adjust it |
|---|---|---|
Drive: minimum path efficiency | 0.55; range: 0.05-1.00; step: 0.05 | Sets the minimum path efficiency for upper- or lower-led drive. Efficiency is absolute open-to-close displacement divided by sampled close-to-close path, capped at one. Drive also requires the close-edge and skew conditions and has first classification priority. |
Drive: close-location edge | 0.72; range: 0.50-0.95; step: 0.01 | Sets the drive close-location threshold on a zero-at-low to one-at-high scale. Upper drive requires at least this value; lower drive requires no more than one minus this value. |
Directional expansion skew | 0.18; range: 0.00-0.80; step: 0.02 | Sets the normalized difference between upper and lower expansion from the open. It is shared by drive direction, late-expansion direction and the neutral-skew test for two-sided formation. Classification priority is drive, late expansion, rotation, two-sided, then mixed. |
Rotation: maximum efficiency | 0.32; range: 0.05-0.70; step: 0.01 | Sets the maximum efficiency for rotational formation, which also requires a close location from 0.35 to 0.65. Drive and late-expansion classes take priority when their conditions are met. |
Late expansion: minimum share | 0.35; range: 0.05-0.90; step: 0.05 | Sets the minimum share of final width added after the halfway checkpoint. Qualifying sessions become late upper, late lower or late two-sided according to skew, before rotation or two-sided tests. |
Early checkpoint (% of duration) | 25.0; range: 10.0-50.0; step: 5.0 | Sets the independent early checkpoint as a percentage of range duration. The early envelope uses samples starting before that time. It does not change visual trace slices, and coarse sampling reduces boundary precision. |
Two-sided: maximum early-width share | 0.72; range: 0.10-1.00; step: 0.02 | Sets the maximum early-width share for two-sided formation. The absolute skew must also be below the directional skew threshold. This test follows drive, late expansion and rotation in classification priority. |
| Input label | Default / options | What it controls and when to adjust it |
|---|---|---|
Track post-range evidence | true | Tracks first accepted departure, re-entry, opposite-edge traverse, dwell, edge tests and maximum reach from range lock through the projection end. It is intentionally disabled for partial sessions and does not alter formation classification. |
Departure evidence basis | Close; options: Close | Wick | Chooses close or wick for first accepted departure beyond the buffer. Re-entry always uses the close, and opposite-edge traverse always uses the wick regardless of this setting. It is active only while evidence tracking is enabled. |
Departure buffer (% of range) | 0.05; range: 0.00-1.00; step: 0.01 | Sets the departure buffer as a fraction of completed range width. A value of 0.05 means 5%, not 0.05%. Evidence must exceed high plus buffer or low minus buffer; larger values are stricter. It is active only while evidence tracking is enabled. |
Consecutive evidence samples | 2; range: 1-10 | Sets the consecutive same-side samples required for the first accepted departure. Opposite, inside, or simultaneous above-and-below evidence resets the runs. Sampling resolution therefore changes the confirmation interval. It is active only while evidence tracking is enabled. |
Edge-test band (% of range) | 0.02; range: 0.00-0.25; step: 0.01 | Sets the half-width of the edge-test band as a fraction of range width. A sample tests an edge when its high-low span intersects the band, and only a new entry from outside increments the count. This is separate from departure acceptance and is active only while evidence tracking is enabled. |
Show evidence event labels | true | Shows chart annotations for acceptance, re-entry and opposite-edge traverse. It is active only while evidence tracking is enabled, and rendering also requires a complete eligible session. Hiding labels does not stop evidence calculations, the card, Data Window output or alerts. |
Research card | Compact; options: Compact | Detailed | Off | Chooses Compact, Detailed or Off for the fixed research card. Detailed adds inside/above/below close-dwell percentages; Compact still shows edge tests and maximum reach. Adaptive mode follows the rightmost rendered session. Off can still leave required warning notices visible. |
| Input label | Default / options | What it controls and when to adjust it |
|---|---|---|
Upper expansion | RGB 0, 229, 255 (#00E5FF) | Sets the color for upper trace expansion, the range-high line, upper-led classes, accepted-above annotations and related panel accents. Color does not affect classification. |
Lower expansion | RGB 255, 45, 117 (#FF2D75) | Sets the color for lower trace expansion, the range-low line, lower-led classes, accepted-below annotations and related panel accents. It does not affect calculations. |
Balanced | RGB 196, 214, 255 (#C4D6FF) | Sets the visual color for developing or unchanged trace states, mixed and rotational formations, midpoint references and re-entry annotations. It is a display classification, not a trading-neutral guarantee. |
Two-sided and transition | RGB 255, 215, 0 (#FFD700) | Sets the color for two-sided trace expansion, two-sided classes, equilibrium, partial sessions, opposite-edge traverse and notices. It does not change logic. |
Main box transparency | 88; range: 70-100 | Controls the main opening-range box background transparency. Higher values are lighter; borders and trace boxes use separate settings. |
Trace transparency | 78; range: 55-100 | Controls cumulative trace-box transparency; higher values are lighter. It does not affect the main box. |
Boundary line width | 2; range: 1-4 | Sets range high/low line width and the main-box border width. Midpoint, session-open and equilibrium lines remain fixed at width one. |
Boundary line style | Solid; options: Solid | Dashed | Dotted | Chooses Solid, Dashed or Dotted for the range high and low lines. It does not style the main-box border or equilibrium line. |
Reference line style | Dashed; options: Solid | Dashed | Dotted | Chooses the style used by the equilibrium line and main-box border. Midpoint remains dashed and session open remains dotted. |
Chart label size | Small; options: Tiny | Small | Normal | Sets chart-label size for formation, extreme-time and evidence annotations. Collision spacing is also scaled to 0.85 for Tiny and 1.25 for Normal. It does not resize the fixed panel. |
Evidence annotation style | Compact markers; options: Compact markers | Full callouts | Chooses A↑/A↓/R/X compact markers or full event callouts. Compact markers retain full descriptions, time, departure basis and confirmation count in tooltips. It is active when event labels are enabled; rendering also requires evidence tracking. |
Visual research panel position | Bottom right; options: Bottom right | Bottom left | Top right | Top left | Chooses one of four corners for the fixed research panel. The default bottom-right layout includes transparent clearance from the price scale and time axis. Move it when another indicator uses the same corner. |
Visual research panel scale | Comfortable; options: Compact | Comfortable | Large | Selects Compact, Comfortable or Large typography for the fixed research panel only. It does not change chart annotations, drawings or calculations. |
Annotation lane spacing (range multiple) | 0.25; range: 0.05-1.00; step: 0.05 | Sets the range-width multiple used as primary annotation spacing. Final spacing is the maximum of this value, the visible-span floor and six ticks, then adjusted for label size. It affects layout only. |
Minimum lane spacing (% of visible price span) | 2.75; range: 0.25-10.0; step: 0.25 | Sets a zoom-aware minimum annotation separation as a percentage of the visible price span; 2.75 means 2.75%. Retained labels reflow when the viewport changes. It is not used in formation calculations. |
Alerts report a locked range, accepted departure, re-entry or opposite-edge traverse that has already met the configured rules. They do not instruct direction, targets, stops or continuation.
This tool is for analysis and visualization. It is not investment advice, a trade recommendation, a forecast, or a promise of profit or accuracy. Results depend on inputs, symbol, timeframe, and data feed. You remain responsible for every trading decision.
Daily-and-higher and synthetic charts are disabled. When lower-timeframe samples are unavailable, the optional chart-bar fallback is coarser and can affect formation order and the width-history sample.
A session first observed after its configured start is PARTIAL. It receives no formation classification, width-history inclusion or post-range evidence tracking.
Regional timezones follow local clock changes, but holidays, shortened days, exceptional closures and instrument-specific official opens are not detected. Verify the day mask and market schedule.
A warning cell can remain when the main research card is off, and evidence annotation style does not fully govern whether evidence tracking is active. Review connected inputs together rather than assuming that hidden output stopped every calculation.
Range width, percentile, efficiency, formation class, accepted departure, re-entry and traverse all derive from the same price series. Do not count them as independent confirmations or treat them as entries, exits, targets, stops, sizing, forecasts, probability, win rate or advice.
Clarify ORB versus Initial Balance, cumulative trace, width percentile and sequenced post-range evidence.
Yes. It is a free, open-source indicator published by SG Group on TradingView. Review TradingView’s terms and the conditions attached to the public script before reuse or redistribution.
Start with the published defaults and observe the drawings and state changes first. Then change one input at a time for the symbol, timeframe and data feed so you can identify what caused each visual change.
Yes, but similar lines, bands, backgrounds and tables can overlap and obscure their source. Isolate each indicator first and hide duplicate components. Visual overlap alone is not stronger evidence or signal agreement.
No. It is analysis and visualization context consistent with the public description. It does not provide entries, exits, targets, stops, price forecasts, or promises of profit, win rate or accuracy.
No. The same opening-range engine uses a configurable duration. The default 15 minutes is an ORB workflow; 60 minutes provides an Initial Balance-style observation. It does not certify an exchange-specific definition or calendar.
This guide is grounded in SG Group’s live catalogue, the script’s published TradingView description, and the user-facing inputs in its open source. Labels and defaults can change after a script update.
