The indicator analyzes years of historical data and automatically plots high-probability projection, protection, and exit levels based on statistical probability calculations. Its objective is to provide traders with a structured, data-driven approach to the RTH opening range.

1. How to Apply the Indicator

1. Open the Indicator List on your chart.

2. Search for Deep-M IVB.

3. Click + to apply it to your chart.

4. Open the Settings icon to configure the indicator if needed.

2. Settings

General Settings

Deep-M IVB is designed as a predefined, ready-to-use system, so configuration is intentionally minimal.

RTH Opening Range (Min)

Defines the number of minutes used to calculate the opening range.

Common values:

• 15 minutes

• 30 minutes (recommended by the team)

• 60 minutes

The selected duration determines the High, Low, and Mid levels that define the ORB structure.

Enable Protection

When enabled, the indicator plots protection and exit levels after the range is broken.

These levels are statistically derived and represent:

• High-probability targets

• Structured protection zones

• Logical exit areas

Enable Zones

When activated, this setting highlights the strongest reaction zones during a breakout.

These zones represent high-probability areas where:

• Price may react

• Momentum may slow

• Partial exits may be considered

3. Plot Settings

Range

These settings control the visual appearance of the opening range.

• High Color – Color of the range high line

• Mid Color – Color of the midpoint line

• Low Color – Color of the range low line

• Line Width – Thickness of the lines

• Line Style – Solid, dashed, or other styles

4. Summary Panel

The summary appears in the top-left corner of the chart and provides the daily bias.

Summary Colors

• Neutral Color – When daily bias is neutral

• Positive Color – When daily bias is bullish

• Negative Color – When daily bias is bearish

5. Projections

These settings control the appearance of statistically derived target levels.

• Protection Color – Highest probability target of the day

• Average Color – Second target (Ext. Avg)

• Projection Color – Third and final target (Ext. Std-1)

These levels are generated using historical probability models.

5. Zones Customization

The Zones section allows full visual customization of breakout reaction zones.

Support

Color of bullish breakout zones.

Resistance

Color of bearish breakout zones.

Opacity

Adjust transparency of the zone.

Bar Extension

Defines how many candles forward the zone will be drawn.
Example: If set to 10, the zone will extend for the next 10 candles.

Line Width

Defines the border thickness of the zone.

Summary

Deep-M IVB transforms the traditional Opening Range Breakout strategy into a data-driven, probability-based trading framework.

It provides:

• Automated opening range calculation

• Predefined projection and protection levels

• Reaction zones during breakouts

• Clear daily bias summary

• Minimal configuration with professional structure

By combining ORB structure with historical statistical modeling, Deep-M IVB helps traders approach breakout sessions with clarity, structure, and measurable probabilities.