NextAlgo ORB/Pre

# 🚀 Quick Start: How to Use & Default Settings

**Master the Open!**
This indicator is designed for **Day Trading** breakout strategies, specifically targeting the high-volatility opening session.

### ⚙️ Recommended Settings
* **Timeframe:** Optimized for **1-Minute (1m) or 3-Minute (3m)** charts.
* **Asset Class:** High-volume Stocks (Big Caps or Pennies) & Indices.
* **Session:** Default `0930-1550` (US Market).

### 📈 How to Trade (Step-by-Step)
1. **Select Strategy:** Choose **"ORB"** (Opening Range Breakout) or **"Pre-Market High"** in the settings.
2. **Wait for the Level:** The script automatically draws the key breakout line (Orange for ORB, Blue for PMH).
3. **Confirm the Break:** Look for a **"BUY" Triangle**.
* *Note:* The signal only fires if the breakout candle is a **"Power Candle"** (High Volume + Big Body + Strong Close).
4. **Manage the Trade:** Once active, the script plots:
* 🔴 **Stop Loss:** Based on ATR volatility.
* 🟢 **TP 1-5:** 5 distinct take-profit targets.
* 🔵 **Trailing Stop:** Automatically trails price to lock in profit.

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# NextAlgo ORB/Pre - Advanced Breakout System

## 1. Justification of Methodology (The "Mashup")
**NextAlgo ORB/Pre** is a "Filtered Breakout System" that combines **Price Level Logic** with **Volume/Volatility Confirmation**.
* **The Component Interaction:**
* **Component A (Levels):** Identifies *where* a breakout should happen (Opening Range High or Pre-Market High).
* **Component B (Power Candle Logic):** Identifies *if* the breakout is real by analyzing the specific candle's physics (Volume > Average? Body > Average? Wick < 25%?).
* **Why Combined?:** Standard breakout scripts fail because they trigger on *any* price cross, often leading to "wicks" and "fake-outs." By mashing up level detection with a strict "Power Candle" algorithm, this script only triggers when **Institutional Volume** confirms the move, significantly filtering out retail fake-outs.

## 2. Uniqueness & Originality
This script solves common trading problems with unique, proprietary logic:
* **"Power Candle" Algorithm:** It doesn't just check price; it calculates a dynamic strength score. It requires the breakout candle to have **1.25x Relative Volume** and **1.25x Relative Size** compared to recent history.
* **"Safe Zone" Entry:** Includes a unique toggle to *ignore* the initial breakout and instead signal an entry on the **Pullback** (Retest of the level), offering a better Risk/Reward ratio.
* **Adaptive Stock Modes:** Features distinct, pre-calibrated internal settings for **"Big Stocks"** (Stable) vs **"Penny Stocks"** (Volatile), adjusting the sensitivity of the breakout detection automatically.

## 3. Strategy Description (How it Works)
The script follows a rigorous validation process:
1. **Map the Level:** At market open, it locks in the Opening Range High (First 1-5 mins) or Pre-Market High.
2. **Filter Context:** Checks global filters:
* **Green Day:** Is Price > Yesterday's Close?
* **EMA Cloud:** Is Price > EMA 7 & 21?
* **VIX Filter:** Is Volatility stable?
3. **Validate the Break:** If price crosses the level, it measures the candle.
* *Is Volume High? Is Body Large? Is Upper Wick small?*
4. **Execute:** If all conditions align, it triggering a valid "BUY".
5. **Manage:** Automatically projects 5 Take Profit targets and activates a Trailing Stop once TP1 is hit.

## 4. Usage & Risk Management
* **Stop Loss:** Calculated dynamically using ATR (Volatility) to adapt to the stock's current behavior.
* **Position Sizing:** The script allows you to visualize risk before entering.
* **Discipline:** Designed to prevent "chasing" by only signaling valid, high-quality breakouts.

## 5. Vendor Requirements & Access
This is a closed-source, premium tool.
* **Access:** Instructions for obtaining access are strictly provided in the **"Author's Instructions"** field below.
* **No Solicitation:** Please do not post contact info in the comments.
* **Disclaimer:** Breakout trading involves risk. Use this tool to assist your decision-making, not to replace it.