WEBULL – 15 Minute Opening Range Breakout Indicator

I have been using a 15 Minute ORB (opening range breakout strategy) for scalping and I have done well. Usually I am in a position for less than 4 minutes. In this post I describe how. The platform I use is Webull (Desktop and Web versions only, because the mobile app does not have custom scripts indicators yet).

My Webull orders are custom, and automatically add TP/SL of 20%/15% when I buy a contract. This is important for scalping because in the time it takes to close a position the trend could move against you. This is especially true during the market open.

The indicator I am using is available for download in the Files section as ‘WEBULL – 15 Minute Opening Range Breakout Indicator‘. It lets you change the EMA values, decide whether to include the wicks in your ranges (default) and can draw vertical green or red columns to signal crossover or crossunder conditions more visibly.

What settings should I use?

I asked Microsoft Copilot, and here is the result:

which orb strategy is better for qqq with EMA10/30 or EMA9/21

Quick Answer: Both EMA10/30 and EMA9/21 can be used with an Opening Range Breakout (ORB) strategy on QQQ, but EMA9/21 is generally favored for faster intraday signals, while EMA10/30 offers smoother confirmation with fewer whipsaws. The “better” choice depends on whether you value speed and sensitivity (EMA9/21) or stability and reduced false triggers (EMA10/30).

Why EMA Settings Matter in ORB

1. ORB basics: The strategy defines the first 5–15 minutes of trading as the “opening range.” A breakout above or below that range signals potential intraday momentum.
2. EMAs as filters: Traders overlay EMAs to confirm direction. Shorter EMAs (like 9/21) react quickly to price changes, while longer EMAs (like 10/30) smooth out noise.

EMA9/21 Characteristics

1. Faster crossover signals → captures early momentum shifts.
2. More trades → higher activity, but also more false breakouts.
3. Best for scalpers/day traders who want to catch sharp moves in QQQ’s volatile open.
4. Often paired with tight stop-losses to manage risk.

EMA10/30 Characteristics

1. Smoother confirmation → filters out minor fluctuations.
2. Fewer trades → less noise, more reliable signals.
3. Better for swing or cautious intraday traders who prefer fewer but higher‑quality entries.
4. Works well with wider stops and holding positions longer.

Practical Takeaway

1. If you want quick entries and don’t mind occasional false signals, EMA9/21 is better.
2. If you prefer confirmation and fewer whipsaws, EMA10/30 is safer.
3. Many traders actually test both in backtests and adapt based on volatility conditions: use EMA9/21 in high‑volume trending days, and EMA10/30 in choppier sessions.

📌 Pro Tip for QQQ ORB: Combine EMAs with volume filters (e.g., unusually high first‑5‑minute volume) to avoid false breakouts. This aligns with research showing ORB strategies perform best when applied to “stocks in play” with abnormal volume

Look at the followinbg screenshots. They represent the exact same ticker and timeframe. One is with EMA9/21 and the other with EMA 10/30. Notice the difference for when an EMA crossover/crossunder is signaled with the different settings.

Note: the ‘EMA Crossover Columns’ setting draws the vertical green or red columns to make the crossover/crossunder points more visible.

EMA 9/EMA21

EMA10/EMA30