Script_Algo - ORB Strategy with Filters

🔍 Core Concept: This strategy combines three powerful technical analysis tools: Range Breakout, the SuperTrend indicator, and a volume filter. Additionally, it features precise customization of the number of candles used to construct the breakout range, enabling optimized performance for specific assets.

🎯 How It Works:

The strategy defines a trading range at the beginning of the trading session based on a selected number of candles.

It waits for a breakout above the upper or below the lower boundary of this range, requiring a candle close.

It filters signals using the SuperTrend indicator for trend confirmation.

It utilizes trading volume to filter out false breakouts.

⚡ Strategy Features

📈 Entry Points:
Long: Candle close above the upper range boundary + SuperTrend confirmation

Short: Candle close below the lower range boundary + SuperTrend confirmation

🛡️ Risk Management:
Stop-Loss: Set at the opposite range boundary.

Take-Profit: Calculated based on a risk/reward ratio (3:1 by default).

Position Size: 10 contracts (configurable).

⚠️ IMPORTANT SETTINGS

🕐 Time Parameters:

Set the correct time and time zone!
❕ATTENTION: The strategy works ONLY with correct time settings! Set the time corresponding to your location and trading session.

📊 This strategy is optimized for trading TESLA stock!

Parameters are tailored to TESLA's volatility, and trading volumes are adequate for signal filtering. Trading time corresponds to the American session.

📈 If you look at the backtesting results, you can see that the strategy could potentially have generated about 70 percent profit on Tesla stock over six months on 5m timeframe. However, this does not guarantee that results will be repeated in the future; remain vigilant.

⚠️ For other assets, the following is required:

Testing and parameter optimization

Adjustment of time intervals and the number of candles forming the range

Calibration of stop-loss and take-profit levels

⚠️ Limitations and Drawbacks
🔗 Automation Constraints:
❌ Cannot be directly connected via Webhook to CFD brokers!

Additional IT solutions are required for automation, thus only manual trading based on signals is possible.

📉 Risk Management:
Do not risk more than 2-3% of your account per trade.

Test on historical data before live use.

Start with a demo account.

💪 Strategy Advantages
✅ Combined approach – multiple signal filters
✅ Clear entry and exit rules
✅ Visual signals on the chart
✅ Volume-based false breakout filtering
✅ Automatic position management

🎯 Usage Recommendations

• Always test the strategy on historical data.
  
• Start with small trading volumes.
  
• Ensure time settings are correct.
  
• Adapt parameters to current market volatility.
  
• Use only for stocks – futures and Forex require adaptation.
  

📚 Suitable Timeframes - M1-M15

Only highly liquid stocks

🍀 I wish all subscribers good luck in trading and steady profits!
📈 May your charts move in the right direction!

⚠️ Remember: Trading involves risk. Do not invest money you cannot afford to lose!