Intraday Session-Range Breakouts with Prior-Bar Stops and Timed Exits

Summary

This intraday strategy records the highs and lows observed during a user-selected session, then enters long when the close crosses above the range high or short when it crosses below the range low. The session and a separate exit window can be configured. Positions close when the exit window arrives, and the script also includes a session-ending close condition. It is designed to permit a position when flat and to clear the stored range after an exit.

For risk controls, the stop is based on the preceding bar’s low for a long or high for a short; a configurable risk-to-reward multiple sets the profit target. The document describes the strategy as a way to examine different session ranges, but supplies no trade statistics or evidence that any range or setting performs best. Results depend on the market, session definition, chart data, and execution assumptions. The source’s mechanics should be checked carefully in testing, including how the stored range resets and how entry and exit timing interact.

Key ideas

• The strategy builds a range from highs and lows during a configurable intraday session.
• A close above the range high triggers a long entry, while a close below the range low triggers a short entry.
• Stops use the preceding bar’s low or high, and profit targets scale from the stop distance.
• A configurable time window and session-ending condition close positions and clear the stored range.
• No performance results are provided, and the document does not establish which session or settings are effective.

Tags

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