Gecko ORB Small Range Breakout Strategy v1.4 by danielbutcher72
By danielbutcher72
Performance Metrics
- Author: danielbutcher72
Description
**ORB Small Range Breakout Strategy**This strategy trades breakouts of the opening range, but only when that range is small or medium relative to price — the idea being that a tight, low-volatility opening range has more room left to run than one that has already made a large move.**How it works**1. **Opening Range (ORB):** The script builds a high/low range over a configurable start and end time (default 08:00–08:25, exchange-local time). This window is fully configurable, so the script works on any market/session — LSE, JSE, or otherwise — without modification.2. **Classification:** Once the opening range closes, its size is measured as a percentage of the opening price and classified as SMALL, MEDIUM, or LARGE based on two adjustable thresholds. Only SMALL and MEDIUM ranges are considered tradeable; LARGE ranges are skipped for that session.3. **Entry:** Within a configurable entry window after the opening range closes (default cutoff 11:00), a long is triggered on a close above the range high, and a short on a close below the range low — one trade per session, first breakout only.4. **Stop/Target:** The stop is placed at the opposite side of the opening range. Take-profit can be set to a fixed R-multiple, a projection of the opening range's size, or disabled entirely (stop-only).5. **Session close:** Optionally, any open position is force-closed at a configurable time of day.**Inputs**- Opening Range start/end time- Entry cutoff time- SMALL/LARGE classification thresholds (%)- Take-profit mode (R-multiple, ORB projection, or none) and multiplier- Optional end-of-session exit time**Notes**- The opening range and entry window are drawn on the chart (box + lines) each session so you can visually verify what the strategy is reacting to.- This script does not use repainting logic — all decisions are based on confirmed price action within the defined windows.- Backtest results shown in the Strategy Tester do not account for slippage or commissions unless configured in the strategy properties; please set these to match your broker before drawing conclusions from the equity curve.- This script is provided for educational and informational purposes only. Past performance, whether real or simulated, is not indicative of future results. Nothing here constitutes financial advice — always test thoroughly and understand the logic before using any strategy with real capital.