Alt Trading

Mike's ORB Signal Pro (Free TradingView Indicator)

A free TradingView indicator that calculates 15-minute opening ranges and detects breakouts so you can execute disciplined ORB trades with integrated money management.

  • •Calculates first 15-minute range (9:30-9:45 AM NY time) using 1-minute granularity
  • •Monitors for clean breakout triggers when price closes decisively above/below range
  • •Includes integrated money management + one-and-done session logic (one long, one short max)

Who it's for:

  • ✓Intraday futures traders who want disciplined ORB execution with position sizing
  • ✓Traders who need automatic money management calculations (contract size, risk %)

Not ideal for:

  • ✗Swing traders (this is intraday-only, focused on opening range)
  • ✗Traders who want multiple signals per session (one-and-done logic limits to 2 trades max)
Claim Free AccessWant the full suite + research updates? Alt Trading Lab →
Mike's ORB Signal Pro showing 15-minute opening range and breakout signals

What you get on the chart

  • •15-minute ORB range: High and low of first 15 minutes (9:30-9:45 AM NY time)
  • •Breakout signals: Visual markers when price closes decisively above/below range
  • •Risk/reward boxes: Real-time TP/SL visualization that extends until trade completion
  • •Money management table: Top-right display showing contract size, risk percentage, stop distance, and account metrics
  • •Session lines (optional): CDH, CDL, PDH, PDL for additional confluence context

How to use it

Best timeframes

Works best on 5m, 15m, and 1h charts. The 15-minute range is calculated from 1-minute data and displayed on your chart timeframe.

Best markets

Optimized for MNQ futures ($2/point) and other liquid futures contracts. Supports CFD contracts with custom point values. Works on ES, NQ, CL, GC, YM.

Default workflow

  1. Wait for 9:30-9:45 AM NY time - indicator calculates 15-minute opening range automatically
  2. Watch for breakout signal when price closes decisively above/below range
  3. Check money management table for position size (calculated from your risk parameters)
  4. Enter trade using calculated contract size
  5. Trade closes automatically at target, stop, or session end (4:00 PM default)

Common mistakes

  • Entering before price closes decisively beyond range (wait for confirmed breakout, not just a touch)
  • Ignoring the money management table (position sizing is critical—don't override it)
  • Taking multiple signals in same direction (one-and-done logic—only one long and one short per session)
  • Trading after session end (signals stop at 4:00 PM default)

Settings guide

Money management mode

Fixed dollar risk, risk-percent, or fixed lot. Fixed dollar = consistent $ risk per trade. Risk-percent = % of account. Default: Fixed dollar.

Account balance

Your account size (used for position sizing calculations). Update this if your account size changes. Default: $10,000.

Risk per trade

Dollar amount or percentage risked per trade. Lower = more conservative, higher = more aggressive. Default: $100 or 1%.

Contract point value

Point value for your contract (MNQ = $2, ES = $50, etc.). Used for position sizing. Default: $2 (MNQ).

Maximum position size

Cap to prevent over-leveraging. Set based on account size and risk tolerance. Default: No cap (use with caution).

Session end time

When trades automatically close (4:00 PM default). Adjust for different session lengths or early close days.

Examples

Example: Breakout with money management

Example showing breakout signal with money management table calculations

15-minute range forms from 9:30-9:45 AM. Price closes decisively above range—long signal triggers. Money management table shows: 2 contracts (calculated from $100 risk, stop distance, account balance). Risk/reward box extends in real time. Trade closes at target.

Example: One-and-done session logic

Example showing one-and-done logic preventing multiple signals

First long signal triggers and completes. Later in session, another potential long setup appears, but indicator blocks it (one-and-done logic). This prevents overtrading and enforces discipline—you get one long and one short maximum per session.

Limitations / what it's NOT

When it works: Clear 15-minute range formation, during liquid NY session hours, when breakouts are decisive (not choppy), when one-and-done logic aligns with your trading style.

When it fails: Choppy/range-bound opening hours, during low liquidity (holidays, early closes), when range is too tight (no room for breakout), during news events that break structure.

What it doesn't claim: No "guaranteed breakouts" or "100% win rate." This is a systematic framework—you still need risk management and discipline. It doesn't execute trades automatically.

Repainting: 15-minute range calculation uses 1-minute data and is non-repainting (once formed, it stays fixed). Risk/reward boxes update in real time as price moves—this is intentional for live trade management.

Why we built this

Most ORB indicators show the range but don't help with position sizing or enforce discipline. Mike's ORB Signal Pro solves this with integrated money management that automatically calculates contract size based on your risk parameters—eliminating guesswork and preventing over-leveraging.

The one-and-done session logic prevents overtrading—you get one long and one short per session maximum. This enforces discipline and aligns with prop firm rules that limit daily trades.

Best paired with: TX ORB Sniper (for NY session ORB variant) or Technical Analysis (for session-level context).

Version History

v1.1 (Dec 6, 2025)

Initial release with 15-minute ORB calculation, integrated money management, one-and-done session logic, and automatic trade closure.

FAQ

What makes Mike's ORB Signal Pro different from other ORB indicators?

It enforces disciplined trade selection with a one-and-done session logic, allowing only one long and one short setup per session. The integrated money management system automatically calculates position sizing based on your risk parameters, eliminating guesswork.

How can I use this indicator with my trading strategy?

Wait for 9:30-9:45 AM NY time for the 15-minute range to form. Watch for breakout signal when price closes decisively above/below range. Check the money management table for position size. Enter trade using calculated contract size. Trade closes automatically at target, stop, or session end.

Does the indicator repaint?

15-minute range calculation uses 1-minute data and is non-repainting—once the range forms, it stays fixed. Risk/reward boxes update in real time as price moves (this is intentional for live trade management).

How can I access Mike's ORB Signal Pro?

You can get access to the Mike's ORB Signal Pro indicator directly from the Alt Trading Library, available for TradingView, completely free. Claim free access here.

What markets and timeframes work best?

Optimized for MNQ futures ($2/point) and other liquid futures contracts (ES, NQ, CL, GC, YM). Works best on 5m, 15m, and 1h charts during liquid NY session hours (9:30 AM - 4:00 PM ET).

Related Alt Trading Indicators

Want signals + execution rules?

FuturesOne includes B1 (breakout), P1 (pivots), and S1 (swing) systems with regime filters and risk management. $49/mo per system.

View FuturesOne Plans

Want evolving research + weekly updates?

Alt Trading Lab includes all 3 FuturesOne systems (B1 + P1 + S1) plus ongoing research updates. $99/mo.

Join Alt Trading Lab