Opening Range Breakout indicator
The first 15 minutes after the 09:30 open set a range. The indicator takes the first close beyond it — once per day — but only when cumulative volume delta agrees with the direction of the break.
NinjaTrader 8TradingView · coming soonAny symbol trading the NY open · tested on NQ & ESNo repainting
What it draws
- Opening range box (09:30–09:45 ET, length adjustable)
- One breakout signal per day on a 15-minute close beyond the range
- Cumulative volume delta (CVD) confirmation, with skipped breaks shown in grey
- Stop at the other side of the range, 1.5R target, optional breakeven at 1R
- On-chart statistics for the loaded history
- NinjaTrader strategy version that can place the orders (Sim first)
How it works
The range is the high and low of the first 15 minutes of the regular session.
A break is the first 15-minute close outside the range before 13:15 ET.
The CVD check compares buying vs selling volume since the open; a break against it is skipped.
Good to know
- Results change with market conditions. In our NQ data the breakout has worked since 2021 but not in 2014–2020, so keep an eye on the on-chart statistics for your symbol.
- The stop sits at the other side of the opening range, which gives the trade room to work. Size positions to that distance.
- On-chart statistics leave out commissions and slippage.
Questions
Why 15 minutes and not 5?
In our tests, the 15-minute range with a wide stop at the other side of the range clearly outperformed 5- and 30-minute ranges and tight stops.
What is the CVD check?
Cumulative volume delta adds up volume traded at the ask minus volume traded at the bid since the open. Breakouts that went against it lost money in both of our test periods, so they are skipped.
Does it work on 1-minute charts?
Yes — it builds its own 15-minute range and decisions from the chart's bars, so you can watch it on a 1-minute chart.