RicardoSantos

[STRATEGY][RS]Open Session Breakout Trader

EXPERIMENTAL: use at your own discretion.

custom session breakout strategy, it uses a percentage of daily atr to set breakout limits. strategy only viable for intraday timeframes and is suggested under 1hour.
Phát hành các Ghi chú: Fixed a issue when 1st bar on open closed beyond the buy/sell lines and didnt trigger a trade.
Gỡ bỏ khỏi Script Ưa thích Thêm vào Script Ưa thích
Great work and appreciate the script.
Any updates ?
Phản hồi
I also noticed this
It would seem the strategy itself is not reporting a few of the "breakeven" trades, which keeps the strategy seemingly profitable in itself. Would you mind explaining if I'm correct on this and if so how to avoid it? I feel like this might be producing a bit of false numbers but am not sure.
https://gyazo.com/3b0f5bc04dee2868b4b8daf7b67c9262
Phản hồi
@Maustula, its possible im currently not tracking this, but may be something due to tradingview's engine.
Phản hồi
Maustula RicardoSantos
@RicardoSantos, I appreciate the reply.
Phản hồi
Firstly, thanks for your work on this, Quite nice for sure.
I am playing around with this due to being a opening range breakout and volume profile trader.
I believe and think most people are having difficulty understanding the " Percent Range Breakout " and that this actually adjusts your high and low for the breakout itself.
My question after all of this is, how do I set the buys and sells when bars close above / below the opening breakout area of specified times, is this an option?
Phản hồi
@Maustula, percent range multiplier is a modifier for the daily atr range, set it to the percent of the daily atr you want to draw the breakout lines.

" how do I set the buys and sells when bars close above / below the opening breakout area of specified times, is this an option?"
its not.
Phản hồi
This look interesting, but TBH I don't understand what the indicators (small arrows and the colored fields) are actually showing. Can you explain a bit the theory for this indicator and how to use it? Any external links to similar ideas?
Phản hồi
@E3V3A, pretty much all self explanatory, colored field is the trade parameters entry/profit/loss, arrows are the strategy execution, purple background field is the session length, dark green/red are the opening session range.
google/search open range breakout?
Phản hồi
E3V3A RicardoSantos
Thanks @RicardoSantos, for your quick response and patience. Googling indeed clarified some but best is still to read and try to understand your code. For those who don't know, here are two links I found helpful:

// Opening Range Breakout Trading Strategy:
https://www.forex.com/en-us/education/education-themes/trading-strategies/opening-range-breakout-trading-strategy
// 3 Reasons Not To Trade Range Breakouts:
https://www.investopedia.com/articles/trading/10/3-reasons-not-to-trade-range-breakouts.asp

Obviously, I'm interested in trading this, but everyone need to know the pro's & con's.
My issue is: (1) to understand what the horizontal dark red/green lines were and what determined their width. (2) The TZ you use for the sessions shown. Is this London or NY?

Anyway, again thanks a lot for sharing all this (and many others)!
Phản hồi
@E3V3A, GMT+0 or UTC+0
Phản hồi
Trang chủ Bộ lọc cổ phiếu Bộ lọc Forex Bộ lọc Tiền điện tử Lịch kinh tế Cách thức hoạt động Tính năng Biểu đồ Giá Quy tắc Áp dụng Người điều hành Giải pháp cho Website & Nhà môi giới Widget Giải pháp biểu đồ Nhận trợ giúp Yêu cầu tính năng Blog & Tin tức Câu hỏi thường gặp Wiki Twitter
Hồ sơ Tùy chỉnh Hồ sơ Tài khoản và Thanh toán Nhận trợ giúp Các ý tưởng đã đăng Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất