MNQ Opening-Candle Breakout with Direction Limits and Daily Risk Controls

Summary

This strategy uses the high and low of the 09:30 Eastern one-minute MNQ candle as daily reference levels. From 09:31 through 11:30, it enters when a bar closes across one of those levels and the prior close was still on the other side. It allows up to three trades per day by default, bars consecutive entries in the same direction until an opposite-side breakout occurs, and skips entries when the distance to the anchor-based stop exceeds the configured percentage threshold.

A fixed percentage target and stop at the opposite anchor level govern exits, with positions closed after the trading window. The system also pauses after two consecutive losing days, based on its daily net-profit calculation. The script reports trade count, win rate, profit factor, average wins and losses, net profit, return, and consecutive losses, but the supplied material gives no actual backtest results. Performance will depend on MNQ data, bar settings, fills, costs, and the tested period; the listed defaults are parameters, not evidence of profitability.

Key ideas

• The 09:30 Eastern candle’s high and low define the day’s breakout levels.
• Entries require a close beyond an anchor level after the prior close remained on the opposite side.
• The strategy limits trade frequency and prevents repeated entries in the same direction without an intervening opposite breakout.
• Stops use the opposite anchor level, while profit targets are set as a percentage of entry price.
• Daily loss-streak logic can suspend trading, and open positions are closed after the morning window.

Tags

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