Hourly Opening-Range Breakout with End-of-Day Closure

Summary

This strategy defines the 09:00–10:00 hourly bar as an opening range. On a one-hour chart, it places a buy stop just above that bar’s high and a sell stop just below its low, each with a one-unit position. Both directions have a fixed profit target and stop loss, and the orders are canceled and open positions closed during the specified late-evening interval.

The document provides the Pine Script rules but no performance report, market, or backtest results. Its behavior depends on chart timeframe and session interpretation, so the stated hour and closing interval may not align with every instrument’s trading session or time zone. The script also does not explain how to handle cases where both range boundaries are crossed in the same session.

Key ideas

• The strategy takes the high and low of the 09:00 hourly bar as breakout thresholds.
• It places stop entries on both sides of the opening range.
• Each position uses a fixed profit target and stop loss.
• Pending orders and open positions are cleared during a specified evening interval.
• The document gives no backtest evidence or instrument-specific validation.

Tags

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