01 / Overview
Key Features
Opening Range Detection
Automatically calculates the high and low of the opening range based on a configurable time window from market open.
Break & Retest Tracking
Detects when price breaks the ORB high or low, then tracks whether price pulls back and retests that level.
Live Options P&L
Full options position tracking with entry price, delta, gamma, contract quantity, TP1/TP2/TP3, and live P&L display.
Risk/Reward Display
Toggle R:R ratios at each TP level vs stop loss. Dollar gain calculations for full position size.
Futures Override
Override ticker for futures symbols (ES, NQ, RTY, MES, MNQ, M2K). Correct contract sizing and P&L math for index futures.
Trade Setup Integration
Options expiry presets (0DTE, 1DTE, Next Fri, 2x Fri, Monthly), strike configuration, and live P&L anchored to entry.
Full Visual Control
Separate color and style settings for ORB high/low lines, break/retest zones, stop loss, and profit targets.
3 Built-In Alerts
Fires on ORB high break, ORB low break, and retest of the broken level.
02 / Concept
How It Works
01
Define the Opening Range
The ORB high and low are calculated from the first N minutes of the session, starting at the configured Session Open Time. Default is 9:30am ET with a 5-minute window.
02
Detect the Break
When price closes above the ORB high, a bullish breakout is flagged. When price closes below the ORB low, a bearish breakout is flagged. The break level is drawn on the chart.
03
Track the Retest
After a break, the indicator watches for price to pull back and test the broken level. A retest zone is drawn. This is your entry trigger.
04
Calculate P&L
Enter your contract details in Trade Setup. The indicator uses Delta and optional Gamma to estimate the stock price at each TP and SL level. P&L is tracked live against your entry stock price.
05
Manage the Trade
TP1, TP2, TP3 lines and the stop loss line are drawn on the chart. Toggle Trailing SL to see where to move your stop after each TP is hit.
→ ImportantThe ORB is calculated once per session based on the first N minutes of trading. It does not repaint or recalculate after the opening window closes.
03 / Reference
Settings
Opening Range
| Setting | Default | Range | Description |
|---|---|---|---|
| Session Open Time | 09:30 | HH:MM ET | Time the regular session starts. Default 9:30 ET. |
| ORB Window (minutes) | 5 | 1–60 | Number of minutes after open used to define the ORB range. |
| Extend ORB Lines | ON | ON / OFF | Extends the ORB high/low lines across the chart. |
⚡ Trade Setup
| Setting | Default | Range | Description |
|---|---|---|---|
| Instrument Type | Options | Options / Futures / Stock | Drives all P&L math and sizing. |
| Expiry Preset | Next Fri | 0DTE / 1DTE / Next Fri / 2x Fri / Monthly | Quick expiry selection. Set to Manual for custom date. |
| Contract Type | Calls | Calls / Puts | Direction of your option position. |
| Strike Price | 0.0 | Any | Strike price of your contract. |
| Contract Quantity | 1 | Any | Number of contracts held. Scales all P&L dollar amounts. |
| Entry Option Price | 0.00 | Any | Your fill price on the option. |
| Entry Stock Price | 0.00 | Any | Stock price at the time you entered. Used for breakeven SL. |
| Delta | 0.60 | -1.0 – 1.0 | Copy from your broker. Always enter as positive magnitude. |
| Gamma | 0.00 | 0+ | Optional. Adds quadratic accuracy to stock price estimates. |
Stop Loss Zone
| Setting | Default | Range | Description |
|---|---|---|---|
| Stop Loss (%) | 20 | 0+ | Stop loss as a percentage loss on the option premium. |
| Show Stop Loss Zone | ON | ON / OFF | Draws the stop loss level on the chart. |
Targets
| Setting | Default | Range | Description |
|---|---|---|---|
| TP1 (%) | 30 | 0+ | First take profit. Default 30% gain on the option. |
| TP2 (%) | 50 | 0+ | Second take profit. |
| TP3 (%) | 80 | 0+ | Third take profit. |
Break / Retest Setup
| Setting | Default | Range | Description |
|---|---|---|---|
| Show Break Lines | ON | ON / OFF | Draws horizontal lines at the ORB breakout level. |
| Show Retest Zone | ON | ON / OFF | Draws a zone around the retest level after a break. |
| Retest Zone Width (%) | 0.3 | 0+ | Width of the retest zone as a percentage of price. |
Visual Settings
| Setting | Default | Range | Description |
|---|---|---|---|
| ORB High Color | Lime | Color | Color of the ORB high line. |
| ORB Low Color | Red | Color | Color of the ORB low line. |
| Break Color | Aqua | Color | Color of the break level line. |
| Retest Zone Color | Orange | Color | Fill color of the retest zone box. |
04 / Alerts
Built-In Alerts
ORB High Break
Fires when price closes above the Opening Range high. Signals a potential bullish breakout.
ORB Low Break
Fires when price closes below the Opening Range low. Signals a potential bearish breakout.
ORB Retest
Fires when price pulls back to test the broken ORB level after a confirmed break.
05 / Best Practices
Pro Tips
Wait for the Break AND the Retest
The ORB break alone is not the entry. The break confirms direction; the retest is the entry. Trading the initial break chases price. Wait for the pullback.
Check sXMTF Trends Before Entry
Before the retest, open MTF Trends. If the Score is Neutral or against your direction, skip the trade. The ORB retest only works when the bigger trend agrees.
Set Strike and Expiry Before Open
Configure your contract details at 9:25am before the ORB even forms. When the retest happens, you should already know your strike, expiry, and stop loss.
Use Gamma for Accuracy
If your option has meaningful Gamma (typically 0DTE or 1DTE), enter it from your broker. The difference between Delta-only and Delta+Gamma estimates grows significantly with 0DTE contracts.
Enable Trailing SL After TP1
After TP1 is hit, switch on Show Trailing SL. The panel shows exactly where to move your stop to lock in breakeven and then trail as each TP is reached.
06 / Use Cases
Who Uses This
| Setting | 0DTE Scalper | Swing Trader | Futures Trader |
|---|---|---|---|
| Instrument | Options | Options | Futures |
| ORB Window | 5 min | 15 min | 5 min |
| Expiry Preset | 0DTE | Next Fri | N/A |
| Delta | 0.50–0.60 | 0.35–0.50 | N/A |
| Stop Loss | 20% | 30% | Fixed ticks |
| TP1 / TP2 | 30% / 60% | 50% / 100% | 1:1 / 2:1 |
→ sXSuite IntegrationUse sX ORB v2 alongside sXRadar to find ORB setups in the opening scan. Confirm with sXMTF Trends Score before acting on the retest. Use sX TF End to know exactly how much time remains in the session when you are managing the position.