ThetaSick Zaktualizowano   
This indicator is tailored for traders looking to capitalize on intraday price movements, particularly focusing on breakout strategies. It combines Opening Range Breakout (ORB) analysis with volatility, trend identification, and price levels.


This indicator is versatile and can be used for various trading strategies, particularly suited for breakout trading and trend following. It is especially useful for traders who focus on the first few minutes of the trading session and who incorporate volatility and trend analysis into their decision-making process.


One of the key strengths of this indicator is its high level of customizability. Traders can adjust the ORB time frame, ATR length and multiplier, EMA periods, and profit level multipliers to align with their trading style and the characteristics of the specific market or stock they are trading.


Now before we look into a couple of different ways we could potentially use this indicator, let's go over some Key Features and the settings first.


ORB Total Time (minutes) - Honestly not much to see here just input the Total time of your ORB. So if your session time is from 8:30 to 8:45 then the Total time would be 15 mins

Session time - You're going to enter whatever session time you want here. Now there is no perfect session time, everyone is going to be different, just find what works best for you and what your trading.

ATR Length - this is just going to calculate the length of ATR that you want to use for the indicator, you can change this if you want to but most standard indicators use 14, and that is what I mainly use as well.

ATR Multiplier - Incorporates volatility into the ORB levels by adjusting the breakout range based on the ATR. This helps in filtering out noise and targeting more significant price movements. Again you can change this depending on your trading style.

Profit Level Multipliers - Additional lines are plotted at specified multiples of the ATR above and below the ORB range. These serve as potential profit targets or stop-loss levels. You can adjust these to your liking.

The Two EMA’s - These are commonly used trend indicators that smooth out price data to identify the direction of the market trend. The periods of these EMAs are adjustable, allowing traders to tailor them to their specific strategy. The first EMA changes color based on its position relative to the closing price, providing a quick visual indicator of bullish or bearish conditions. There’s also a cloud you can toggle on/off if you want.

This indicator also has alert conditions for those who like that :3

Now on to some examples, one more thing though before we start.

All these examples that I'm going to be showing you are just examples… these are not to show you how you should be trading or using this indicator. That is all personal preference, you can trade/use this indicator however you like. I'm just going to be showing you some examples of how I would have used it based on my trading style. Also btw these are all perfect examples not every day is going to be like this.

Bullish Trade

Bearish Trade

Fake Out Trade

No Trade Day

Thank you.
Informacje o Wersji:
Updated the chart style and a little bit of the cloud.
Informacje o Wersji:
Will be posting a how to use/ everything you need to know video about this indicator soon. Keep a lookout on my socials for it.
Informacje o Wersji:
Okay should be last one for a little
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Informacje o Wersji:

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