# Opening Range Breakout (ORB)

**iTradeAIMS | NAS100 ORB** (short title **AIMS ORB**) is an intraday **opening-range breakout** strategy for Nasdaq-100 charts. It captures the first minutes of the regular session as a range, then trades a breakout in the direction set by that range.

The idea is **asymmetry**: accept that many opening breakouts may fail, but aim for a larger reward when one runs. This is why the default target is high (**10R**) and why the page keeps warning you not to judge it by win rate alone.

Historical simulation only

Strategy Tester results are **historical simulations**. Commission, slippage, and live fills can change outcomes materially. Not financial advice.

Publish status

This edge-engine script is **publish pending** in docs. Use the listed chart name only when it appears in your TradingView access list.

## Design timeframe[​](#design-timeframe "Direct link to Design timeframe")

Run on a **5-minute** Nasdaq-100 chart for the intended read. The opening-range length is measured in minutes from the session open. Other intraday timeframes can be tested, but **5-minute** is the design point.

Use a symbol that matches Nasdaq-100 context: **NAS100**, **US100**, **NDX**, **QQQ**, or your broker's NQ mapping.

## How it works[​](#how-it-works "Direct link to How it works")

1. **Opening range:** during the first few minutes after the regular session open (default **5 minutes**), the script records the high and low.
2. **Direction:** if the opening-range candle closes above its open, the day is treated as long-biased; below its open, short-biased; doji skips the day.
3. **Entry:** the strategy enters at the next bar's open in the chosen direction.
4. **Stop:** opposite side of the opening range. Entry to stop = **1R**.
5. **Target:** default **10R**, or flat at session close if the target is not hit.
6. **One trade per day:** after the opening-range decision, it does not keep re-entering.

Positions are **flat overnight** — no hold past the configured regular session.

## What to look for on the chart[​](#what-to-look-for-on-the-chart "Direct link to What to look for on the chart")

| Visual                | Meaning                                |
| --------------------- | -------------------------------------- |
| **Opening-range box** | The first session range being measured |
| **OR High rail**      | Breakout level for long-side context   |
| **OR Low rail**       | Breakout level for short-side context  |
| Red risk box          | Entry to stop distance                 |
| Teal reward box       | Entry to target distance               |
| Top-right dashboard   | Summary stats and target R             |

![Teaching diagram of NAS100 ORB — opening-range box, OR High/Low rails, and 10R risk/reward zones](/img/indicators/nasdaq-strategy/tradingview/nas100-edge-orb-teaching-chart.png)

Teaching diagram — ORB chart identity from the Pine visuals. Not a live Strategy Tester screenshot.

## Key inputs[​](#key-inputs "Direct link to Key inputs")

| Group         | Input                        | Default           | Notes                                   |
| ------------- | ---------------------------- | ----------------- | --------------------------------------- |
| Risk          | Risk % per trade             | 1.0               | Equity risked to the opening-range stop |
| Risk          | Target (R multiple)          | 10.0              | Reward relative to stop distance        |
| Opening Range | Opening-range length (min)   | 5                 | Minutes from session open               |
| Opening Range | Regular session              | 09:30–16:00       | US cash session; adjust per feed        |
| Opening Range | Session timezone             | America/New\_York |                                         |
| Opening Range | Take longs / shorts          | on / on           |                                         |
| Filters       | 200-EMA regime filter        | off               | Long only above / short only below      |
| Visuals       | Opening-range box            | on                | Draws the first range                   |
| Visuals       | Breakout rails (OR high/low) | on                | Extends the high/low across the session |
| Visuals       | Session tint                 | on                | Shows the active session window         |

## Chart overlays[​](#chart-overlays "Direct link to Chart overlays")

* **Opening-range box** — high/low band during the range window
* **Breakout rails** — range high and low extended through the session; the taken side highlights
* **Session tint** — active trade window
* Shared **entry / stop / target zones** and top-right dashboard

## Instrument and session[​](#instrument-and-session "Direct link to Instrument and session")

Use **NAS100**, **US100**, **NDX**, or **QQQ** with the session window set to your feed's most liquid cash session.

## Tuning notes[​](#tuning-notes "Direct link to Tuning notes")

* **Target (R multiple)** and **opening-range length** are the main levers — walk-forward test changes; avoid curve-fitting to one window.
* The optional **200-EMA regime filter** can reduce counter-trend breakouts.
* Costs matter: many exits are stops or the end-of-day market close. Re-run Strategy Tester with realistic commission and slippage before drawing conclusions.

## First-session checklist[​](#first-session-checklist "Direct link to First-session checklist")

1. Chart timeframe is **5 minutes**.
2. Session is set to the feed's correct US cash window.
3. Opening-range box and rails are visible.
4. Strategy Tester shows enough trades to review, not just one or two examples.
5. You review costs and slippage before comparing results.

## Next steps[​](#next-steps "Direct link to Next steps")

* [Edge engines overview](/indicators/nasdaq-strategy/docs/tradingview/edge-engines.md)
* [Strategy Tester results](/indicators/nasdaq-strategy/docs/tradingview/strategy-results.md)
* [Start on TradingView](/indicators/nasdaq-strategy/docs/tradingview.md) — Ultimate NAS100