NextAlgo ORB/Pre

**Simplify your trading. Catch the big moves. Manage risk automatically.**

NextAlgo ORB/Pre is designed for traders who want to catch the most explosive moves of the day without staring at the charts for hours or guessing where to get in and out. It combines professional-grade strategy with a simple, clean interface.

## 🔥 Key Features

### 1. Catch Strong Breakouts Automatically
Don't guess which way the market is going. The indicator automatically identifies key breakout levels:
* **Opening Range Breakout (ORB):** Should you buy when the market opens? NextAlgo tells you when the price breaks out of the opening range with momentum.
* **Pre-Market Highs:** Finds stocks breaking above their pre-market resistance for powerful runner plays.

### 2. "Power Candle" Confirmation
Avoid fake-outs! NextAlgo doesn't just look at price; it analyzes the **strength** of the move. It only signals a buy if valid "Power Candle" conditions are met:
* **Big Body:** Shows real buying pressure.
* **High Volume:** Confirms that big players are entering the trade.
* **Wick Protection:** filters out weak moves that are likely to reverse.

### 3. Visual Strength Indicators
* **Electric Blue Candles:** Strong Bullish momentum (Institutional buying).
* **Pink Candles:** Strong Bearish momentum (Institutional selling).
* *Normal candles stay their usual colors, so the important moves stand out instantly.*

### 4. Automatic Trade Management
Once a signal triggers, NextAlgo handles the math for you:
* **Entry Point:** clearly marked on the chart.
* **Stop Loss:** Automatically calculated based on volatility to keep you safe.
* **5 Profit Targets:** Know exactly where to take profits along the way.

### 5. Lock in Profits with Trailing Stops
Greed kills trades. NextAlgo features an intelligent **Trailing Stop** system that moves your stop-loss up as the price rises. This helps you:
* Secure profits automatically.
* Turn winning trades into "risk-free" rides.
* Exit automatically if the trend reverses.

### 6. Instant Alerts
Set it and forget it. Get instant alerts to your phone or computer for:
* **Buy Signals:** When a valid setup triggers.
* **Take Profits:** When a target is hit.
* **Stop Loss:** When it's time to exit.

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# How to Use: NextAlgo ORB/Pre Indicator

The **NextAlgo ORB/Pre** indicator is an advanced trading system designed for both manual and automated trading. It focuses on two primary strategies: **Opening Range Breakout (ORB)** and **Pre-Market High (PMH) Breakouts**, combined with Pivot Point supports.

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## 🚀 Getting Started

1. **Add to Chart**: Copy the Pine Script code and paste it into the TradingView Pine Editor, then click "Add to Chart".
2. **Timeframe**:
- **Chart Timeframe**: Best used on the **1-minute chart** for maximum precision, though it supports 3m and 5m.
- **ORB Timeframe (Default)**: Now set to **1 minute**. This defines the range of the very first candle of the session.
3. **Instruments**: Works on stocks (Big caps and Penny stocks).

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## 📖 How to Use

### 1. The Strategy Logic
The indicator automatically identifies key price levels at the start of the trading session.
- **For ORB**: It marks the high of the first 1-minute candle (by default).
- **For PMH**: It marks the highest price reached during the pre-market session.

### 2. Waiting for the Signal
- Once the level is established, the indicator waits for a **Power Candle** to close above it.
- A **"BUY" Triangle** will appear on the chart when all conditions (Volume, Body Size, Filters) are met.

### 3. Entering the Trade
- You can enter immediately on the signal candle close.
- **Optional**: Enable **"Safe Zone Entry"** to wait for the price to pull back to the middle of the breakout candle before entering for a better Risk/Reward.

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## 🛠 Key Settings & Features

### 1. General Settings
- **Stock Type**:
- `Big`: Optimized for large-cap stocks with more liquidity.
- `Penny`: Optimized for low-float, high-volatility stocks.
- **Trading Session**: Define your active trading window (Default: `0930-1550`).
- **Time Zone**: Set to your local or exchange time zone (Default: `UTC-5` for NYSE).

### 2. Breakout Strategies
Choose your primary entry logic:
- **ORB (Opening Range Breakout)**: Tracks the high of the first $X$ minutes of the session (now defaults to **1 minute**).
- **Pre-Market High (PMH)**: Tracks the highest point reached during the pre-market session (04:00 - 09:30).
- **Support Breakouts (S1/S2)**: Optional extra entry points based on Pivot Point levels.

### 3. Power Candle Conditions
The indicator only triggers a "BUY" if the breakout candle is "Strong". These filters include:
- **HVC (High Volatility Candle)**: Large body size compared to recent average.
- **HVAC (High Volume)**: Volume must be significantly higher than average.
- **Stable Close**: Requires at least 25% of the candle body to close above the level.
- **Wick Filter**: Rejects candles with long upper wicks (selling pressure).

### 4. Strategy Filters
Enhance your win rate by enabling these:
- **Green Day Filter**: Only trade if the current price is above the previous day's close.
- **VIX Filter**: Blocks entries if the VIX (Volatility Index) rises too sharply.
- **EMA Cloud Filter**: Only buy if the price is above the 7 and 21 EMAs.

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## 📉 Trade Management

- **Stop Loss**: Calculated using **ATR (Average True Range)**. The default multiplier is 0.1, meaning it stays tight to protect capital.
- **Take Profit (TP)**: Provides 5 target levels based on Risk/Reward ratios.
- **Trailing Stop**: If enabled, the stop loss moves to entry after TP1 and continues to trail behind the price to lock in profits.
- **Auto-Close**: Automatically clears visuals and closes logic at the end of the session.

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## 📊 Visual Indicators

- **Blue Candles**: Strong Bullish momentum.
- **Pink/Magenta Candles**: Strong Bearish momentum.
- **Green Triangle (BUY)**: Confirmed entry signal.
- **Lines**:
- **Blue Solid**: Entry Level.
- **Red Solid**: Current Stop Loss / Trailing Stop.
- **Green Dashed/Solid**: Target Levels (TP1-TP5).
- **Orange/Blue Level Lines**: The ORB or PMH level being watched.

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