MNQ 8:00 Range Breakout and Midpoint Retest Strategy

Summary

The strategy builds a range from prices during the 8:00–8:15 a.m. New York session, then tracks whether price closes above or below it. During the 9:45–11:00 a.m. trading window, it enters in the breakout direction when price returns to the range midpoint. It uses the opposite range boundary as the initial stop and sets targets at two and four times the entry risk.

The position is split between a 70% portion aimed at the nearer target and a 30% runner aimed at the farther target. After the first target is reached, the runner’s stop moves to the entry price. Positions are closed at the end of the trading window, and the strategy allows only one open trade at a time. The document provides source code but no backtest results or performance evidence. Its rules depend on the chosen instrument, chart interval, session times, and execution assumptions; these details should be evaluated before drawing conclusions about profitability.

Key ideas

• The strategy defines its daily range using the high and low from 8:00 to 8:15 a.m. New York time.
• It looks for a close beyond the range, followed by a return to the range midpoint during its trading window.
• The opposite range boundary sets the initial stop, and targets are placed at two and four times the entry risk.
• The strategy takes most of the position off at the nearer target and moves the remaining portion’s stop to breakeven after that target is reached.
• The source code specifies session-end closure and does not present backtest performance evidence.

Tags

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