This overlay indicator marks the New York initial balance and a configurable opening range on the price chart and reports live range statistics in two tables. It builds an IB box for a default 09:30–10:30 ET window, an ORB box from 09:30 for a set number of mi
Indicator · Pine Script v5 · On the chart
MSG Enhanced Range Breakout System
This indicator identifies and plots custom time-based ranges on the price chart using GMT hours, monitoring for price breakouts within a configurable time window.
GitHub stars6on the repository
Pine versionv5runs as is
Lines of code495
Settings33inputs
LicenceNone stated
Last update7 months ago16 Mar 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
When price breaks beyond the high or low of the range before expiration, it displays directional signals and updates the range boundary colors. It also overlays major trading sessions including Asia, London, and New York. Settings allow users to customize session times, breakout timeout hours, visual risk levels, and signal arrows.
- Time-based GMT range calculation and breakout detection
- Configurable breakout timeout window with range expiration
- Visual trading session overlays for Asia, London, and New York
- Directional breakout color coding and signal arrows
- Configurable visual risk levels and risk zones
Details
Published by
alboogycOdR on GitHub
Type
Draws
On the price chart
Category
Timeframes
M1-M5, M15-H1
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Risk Level | string | Low Risk | riskLevel |
| Number of Orders (Visual Only) | int | 1 | numberOfOrders |
| Show Signal Arrows | bool | true | showSignalArrows |
| Show Risk Zones | bool | true | showRiskZones |
| Range Start Hour GMT | int | 23 | rangeStartHour |
| Range Start Minute | int | 0 | rangeStartMinute |
| Range End Hour GMT | int | 1 | rangeEndHour |
| Range End Minute | int | 0 | rangeEndMinute |
| Range Color (No Breakout) | color | color.yellow | rangeColorDefault |
| Range Color (Buy Signal) | color | color.new(color.green, 0) | rangeColorBuy |
| Range Color (Sell Signal) | color | color.new(color.red, 0) | rangeColorSell |
| Range Line Width | int | 2 | rangeLineWidth |
Show all 33 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Breakout Line Width | int | 4 | breakoutLineWidth |
| Hours After Range to Allow Breakout | int | 4 | hoursAfterRangeForBreakout |
| Show Timeout Line | bool | true | showTimeoutLine |
| Gray Out Expired Ranges | bool | true | grayOutExpiredRanges |
| Show Trading Sessions | bool | true | showSessions |
| Show Asia Session | bool | true | showAsiaSession |
| Show London Session | bool | true | showLondonSession |
| Show New York Session | bool | true | showNewYorkSession |
| Show Session Labels | bool | true | showSessionLabels |
| Asia Session Color | color | color.new(color.blue, 80) | asiaColor |
| London Session Color | color | color.new(color.green, 80) | londonColor |
| New York Session Color | color | color.new(color.orange, 80) | nyColor |
| Asia Start Hour GMT | int | 0 | asiaStartHour |
| Asia End Hour GMT | int | 9 | asiaEndHour |
| London Start Hour GMT | int | 8 | londonStartHour |
| London End Hour GMT | int | 17 | londonEndHour |
| New York Start Hour GMT | int | 13 | nyStartHour |
| New York End Hour GMT | int | 22 | nyEndHour |
| Show Dashboard | bool | true | showDashboard |
| Dashboard Position | string | Top Right | dashboardPosition |
| Arrow Size | string | Normal | arrowSize |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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