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.
Note di rilascio: Fixed a issue when 1st bar on open closed beyond the buy/sell lines and didnt trigger a trade.
Rimuovi dagli script preferiti Aggiungi agli script preferiti
Great work and appreciate the script.
Any updates ?
Rispondi
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
Rispondi
@Maustula, its possible im currently not tracking this, but may be something due to tradingview's engine.
Rispondi
Maustula RicardoSantos
@RicardoSantos, I appreciate the reply.
Rispondi
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?
Rispondi
@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.
Rispondi
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?
Rispondi
@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?
Rispondi
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)!
Rispondi
@E3V3A, GMT+0 or UTC+0
Rispondi
IT Italiano
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Screener azioni Screener forex Screener cripto Calendario economico Come funziona Caratteristiche Grafico Costi Regolamento Moderatori Soluzioni per broker & siti web Widget Libreria di Grafici azionari Chiedi aiuto Suggerisci funzionalità Blog & Novità FAQ Wiki Twitter
Profilo Impostazioni profilo Account e fatturazione Chiedi aiuto Idee pubblicate Follower Seguiti Messaggi Privati Chat Esci