ORB Pro – Opening Range Breakout
ORB Pro is a streamlined Opening Range Breakout indicator for ThinkorSwim built to define the initial range, track the midpoint, project upside and downside targets, and alert traders when price breaks key levels. It gives traders a cleaner way to structure the open and quickly see whether price is holding inside the range, breaking out, or pushing toward measured projections.
Overview
Watch the full walkthrough to see how ORB Pro defines the opening range, maps breakout targets, and helps structure trades around the most important part of the session.
Benefits
ThinkorSwim traders often mark the opening range manually or rely on incomplete ORB tools that do not give enough structure after the breakout. That creates extra work during the most important and fastest-moving part of the session.
ORB Pro turns the opening range into a complete framework. It automatically plots the high and low of the opening range, adds the midpoint, projects measured targets above and below the range, and gives traders optional alerts as price breaks through key levels.
ORB Pro helps traders move from simply watching the open to trading it with a defined framework.
Core Features
ORB Pro automatically captures the high and low of the opening range based on the time window you set. Once that range is complete, the key levels remain plotted on the chart so traders can immediately see whether price is holding inside the range, testing the edges, or breaking out.
This removes the need to manually mark the opening range every symbol and gives traders a repeatable structure they can use quickly, day after day. The timeframe is fully customizable, allowing the indicator to fit different ORB styles and trading preferences.
In addition to the opening range high and low, ORB Pro can also display the midpoint of the range. This gives traders another reference level for judging whether price is trading in the upper half or lower half of the opening structure.
The midpoint can be useful for measuring internal strength or weakness after the open. When price is holding above the midpoint, it can suggest stronger participation on the long side. When price is holding below it, it can reinforce weakness and help frame downside pressure.
ORB Pro includes an optional cloud that visually shades the opening range once it has formed. This makes the range easier to identify at a glance and helps traders quickly see whether price is trading inside the box or has moved beyond it.
The cloud adds visual structure without requiring the trader to manually interpret every line. For traders who like a cleaner chart, it can be disabled. For traders who want faster visual context, it provides an immediate read on the active range zone.
Once the opening range is established, ORB Pro can automatically plot projection levels above and below the range. These targets are based on the size of the opening range and extend outward as R1, R2, R3 and S1, S2, S3.
This gives traders a measured framework for possible continuation targets after a breakout. Instead of reacting blindly once price leaves the range, traders can use the projections to anticipate likely expansion zones and structure exits, scaling decisions, or trade management around them.
ORB Pro includes optional alerts when price breaks above the opening range high or below the opening range low. It can also trigger additional alerts when price reaches projection targets, giving traders audio confirmation as price moves through important levels.
This allows the indicator to function not only as a visual framework but also as an active trade-support tool. Traders can choose whether they want only the core breakout alerts or additional projection alerts as price expands beyond the range.