This strategy plots VWMA-based Bollinger bands on the 1-minute ES futures price chart for volatility analysis and potential breakout identification. It calculates dynamic long and short stop loss and take profit levels using percentage inputs relative to entry
Strategy · Pine Script v5 · On the chart
ORION: Hybrid Strategy
This strategy identifies volatility breakout opportunities by constructing dynamic ATR-based price boxes and detecting volatility squeezes.
GitHub stars7on the repository
Pine versionv5runs as is
Lines of code263
Settings28inputs
LicenceNone stated
Last update3 months ago24 Jul 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 strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
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
Trades are filtered using an exponential moving average trend condition and designated session hours. Entries trigger upon breakouts from active boxes, while position sizing is calculated using risk per trade with target exits derived from a fixed risk-to-reward ratio. It also features automatic Friday closing and trade cooldown periods. All boxes, trades, and optional EMA lines are rendered directly on the price chart.
- ATR-based box breakout detection
- Standard deviation volatility squeeze filter
- EMA trend directional filter
- Configurable trading sessions and Friday close protection
- Fixed risk-to-reward ratio exit management
Details
Published by
eddiebelaval on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Volatility & bands, Breakout, Trend, Sessions & time
Markets
Forex
Timeframes
M15-H1, M1-M5
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 |
|---|---|---|---|
| Lookback Period | int | 15 | lookback |
| Box Width (ATR) | float | 2.5 | atr_mult |
| Slope Tolerance | float | 0.2 | slope_thresh |
| Cooldown (Bars) | int | 5 | cooldown_bars |
| Max Box Duration (Bars) | int | 45 | max_box_life |
| Use EMA Filter | bool | true | use_ema |
| EMA Length | int | 150 | ema_len |
| Show EMA Line on Chart | bool | true | show_ema |
| Trading Session | session | 0600-2300 | trading_session |
| Force Close on Friday Night? | bool | true | force_close_day |
| Force Close Hour (Friday) | int | 22 | force_close_hour |
| Force Close Minute | int | 00 | force_close_min |
Show all 28 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Skip Winter Holidays | bool | false | holiday_filter |
| Risk % Per Trade | float | 0.8 | risk_per_trade |
| Risk : Reward Ratio | float | 1.9 | reward_ratio |
| Detect Squeeze | bool | true | use_gold |
| Show Standard Boxes | bool | true | show_gray |
| StdDev Length | int | 20 | std_len |
| Squeeze Threshold | float | 0.6 | squeeze_th |
| Text Size | string | Normal | txt_size_input |
| Squeeze Box Color | color | #FFD700 | c_squeeze |
| Standard Box Color | color | color.gray | c_std |
| Active Trade Color | color | color.blue | c_active |
| Win Color | color | color.green | c_win |
| Loss Color | color | color.red | c_loss |
| Box Transparency | int | 80 | bg_transp |
| Marker Width | int | 5 | marker_width |
| Connector Width | int | 2 | conn_width |
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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