Inside-Day Breakouts with Structural Stops and Daily ATR Targets

Summary

This strategy identifies an inside day when the prior daily high and low both fall within the range from two days earlier. During the configured session, it places stop entries at the prior day's high and low, with options to trade long, short, or both directions. Once one side enters, the opposing order is canceled. The prior day's opposite boundary serves as the structural stop level.

Position quantity is calculated from current equity and the relevant breakout price, effectively allocating the full account equity to a trade. An optional profit target uses daily ATR multiplied by a configurable factor; otherwise, positions can remain open until a stop or the end-of-day close. The script also packages order and account fields into webhook alerts. No backtest results are supplied, and the all-equity sizing can expose the account to substantial losses. Breakout behavior, session assumptions, order fills, and costs need evaluation on the intended market and timeframe.

Key ideas

• An inside day is defined by the prior day's range fitting within the range from two days earlier.
• Stop entries are placed at the prior day's high and low, subject to the chosen trade direction.
• The opposite boundary of the inside-day range serves as the position's stop level.
• Position size is based on current equity and the breakout price, resulting in full-equity allocation.
• An optional daily ATR target and end-of-day closing rule govern exits, but no performance results are provided.

Tags

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