Gold Round-Number Breakouts with Risk-Reward Filtering

Summary

This script outlines an intraday breakout system for a 15-minute chart, using a fixed price grid with configurable round-level spacing and offsets. It tracks levels below and above price, then looks for a confirmed candle that crosses an offset level. Long signals require an upward cross and a bullish candle; short signals require a downward cross and a bearish candle. It compares the prospective distance to the stop level and final target to enforce a minimum reward-to-risk ratio.

The script describes fixed entry, stop, and target levels and blocks new entries while a position remains open. Its first profit target is a visual reference rather than a partial exit or breakeven adjustment. These rules provide a structured way to test round-number breakouts, but the supplied document ends partway through the code, so the complete exit logic cannot be assessed. The published code sets commission and slippage to zero and gives no performance results; actual costs and execution could materially change outcomes.

Key ideas

• The system derives trigger levels from a fixed price lattice with configurable spacing and offsets.
• It evaluates crosses on confirmed 15-minute candles and requires candle direction to agree with the trade.
• A prospective reward-to-risk threshold filters entries based on the stop and final target distances.
• The script prevents another entry until the current position has fully exited.
• The provided excerpt is incomplete and reports no backtest performance; its zero-cost assumptions limit inference.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.