Super Script

kemarin

Key Features

Opening Range Breakout (ORB):
Defines the first 10-minute candle range after market open (high and low).
Tracks breakout conditions where the price opens above or below the range.

VWAP Integration:
Calculates the Volume-Weighted Average Price (VWAP) and its slope to gauge intraday trend direction.
Used in conjunction with breakout alerts to validate trend strength.

Bollinger Bands (BB):
Implements 6-period Bollinger Bands with a multiplier of 2.
Determines the position of the middle Bollinger Band relative to the opening range to validate breakouts.

Alerts for Buy/Sell:
Triggers alerts when conditions for breakouts align with VWAP slope and Bollinger Band positioning.
Ensures alerts only occur within the first hour of trading to target high-volatility periods.

ATR-Based Trailing Stops:
Uses Average True Range (ATR) to calculate dynamic trailing stop levels.
Displays trailing stop values as a reference for position management.

ADX Signals:
Detects strong directional movements using the Average Directional Index (ADX).
Plots "Strong Signal" icons when ADX crosses above 20.

Signal Icons:
Displays BUY and SELL icons on the chart for visual clarity.
Uses white triangles for bearish signals and orange labels for BUY/SELL conditions.

How It Works

Market Open Setup:
Captures the high and low of the first 10-minute candle after the market opens (9:30 AM EST).
Monitors the price movement relative to this range.

Breakout Conditions:
Detects if the current candle opens above or below the first 10-minute candle range.
Confirms breakout signals using:
Positive VWAP slope (uptrend validation).
Middle Bollinger Band position (above or below the breakout range).

Dynamic Alerts:
Sends "Price Break Above" or "Price Break Below" alerts only once per day for validated conditions.
Combines multiple indicators to reduce false signals.

Position Tracking:
Tracks BUY/SELL positions based on the ATR trailing stop levels.
Adjusts the stop dynamically as the price moves.

ADX Strong Signals:
Highlights periods of strong directional trends.
Adds white triangle icons to emphasize bearish opportunities.

Visualization

Horizontal Lines: The high and low of the first 10-minute candle are plotted as white lines.
Middle Bollinger Band: A blue line displays the trend of the middle Bollinger Band.
Signal Icons: BUY and SELL signals are marked with small labels or triangles for quick interpretation.
ADX Triangles: White triangles signify strong ADX-based signals below the price.

Usage Tips

Trade During High Volatility:
Focus on the first hour of trading, where the script's alerts are most effective.

Set Alerts:
Activate TradingView alerts to stay informed when breakout or ADX conditions are met.

This script is ideal for day traders seeking precise entry points and swing traders looking for trend confirmation. With integrated breakout logic and strong trend detection, the Super Script enhances efficiency and confidence in trading decisions.

Venmo @Matt-Hierseman if you want to tip your script-tender. CHEERS and happy Trading!