TradeX ORB Sniper

TradeX ORB Sniper — Multi-Range Opening Breakout Framework

This invite-only script is a structured Opening Range Breakout (ORB) tool designed to map price interaction with multiple predefined ranges. It is not a collection of generic settings — all versions and filters are coded in-house and connected through a shared logic engine.

Purpose & Core Design

The ORB Sniper provides four internally coded modes, each referencing a distinct opening range. Depending on market context, ranges may include:

Pre-market session range

5-minute opening range

15-minute opening range

Volume-adaptive range variations

Each mode ensures consistent logic across timeframes, allowing traders to analyze breakout dynamics in a rule-based framework.

Breakout Highlighting

When price closes above or below the active range, the script highlights that candle in gold/yellow (“Get Ready Candle”). This highlight is informational only, serving as a visual marker of when price has left the defined range.

Zone Projection & Box Mapping

To help visualize breakout dynamics, the script plots risk and reward boxes:

Risk Box — initial region mapped from the selected range

Reward Box — projected continuation area based on range displacement

These elements are configurable, giving traders flexibility in how the breakout context is displayed.

Custom Visual Inputs

Users can adjust all visual components directly from the settings panel:

ORB Mode — toggle between V1–V4 range types

Risk Box Color — customize the risk region’s display

Reward Box Color — adjust continuation box visuals

Get Ready Candle Color — select the breakout candle highlight color

Inputs in Status Line — optional summary display at the top of the chart

This ensures the framework is adaptable to any chart theme or personal preference.

Development Process

The ORB Sniper was first modeled in Python, where volume, volatility, and technical variations were looped through to refine range definitions. The most effective rules were then coded into Pine Script, creating a streamlined, repeatable breakout framework.

Disclaimer

This is an original, closed-source TradeX Labs tool. It references known concepts (opening ranges, volume dynamics) within a proprietary rule-based framework. It is intended for visual analysis only and does not provide trade signals or guarantee results. Default settings are for illustration; traders should adjust configuration to their instrument and timeframe.