Opening Statement (ORB)
AsksDid the first fifteen minutes mean it?
The session makes its opening statement; this study keeps the range on the chart. It builds a high and low during the selected opening window, displays those rails after the window ends, and marks qualifying breaks and retests. Optional targets project the range width beyond the broken edge.
Get started
- Paste the complete downloaded file into a new study through Charts → Studies → Edit Studies → Create in thinkorswim desktop.
- Use an intraday chart with an aggregation at or below rangeMinutes. Check that rangeStartTime and the chart's session bars cover the opening window you intend to measure.
- Wait for the status to move from FORMING to the completed high, low, and width. Range rails are hidden while the window is forming.
- Read cyan and magenta as breakout markers, then blue and yellow as qualifying retests. Enable measured targets only if you want that additional range-width reference.
How to read it
The opening evidenceThe study accumulates highs and lows during the opening window and carries the completed range forward. It resets its range and signal flags when its day changes.
A break and a returnAn upward break requires the current close value above the high with the previous close at or below it; the downward side is mirrored. A retest touches a previously broken edge and has its current close back on the breakout side.
Why some marks stay quietThere is at most one breakout and one qualifying retest per side per day. A shared cooldown also governs retests. Optional targets multiply the range width and project it from the broken boundary.
Know the limits
The script checks the active candle's close value without a completed-bar gate. Breakout and retest markers can change before the candle finishes.
The opening window needs matching chart bars and session coverage. A chart interval that crosses the range boundary can include prices outside the intended window.
Measured targets are geometric references, not expected returns. The script does not provide position sizing, stops, or order execution.
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One tool reads one part of the market.
MIZAN grades the whole setup.
Opening Statement (ORB) gives you a focused read. The paid MIZAN engine runs on TradingView and combines seven proprietary validation layers, a 0–100 evidence score, and risk calibration to qualify or block setups.
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