MNQ Opening-Range Breakout Pullbacks with Overnight Confirmation

Summary

This MNQ strategy defines the opening range from the first 15-minute bar beginning at 9:30 a.m. New York time and tracks the overnight high and low from 6:00 p.m. through 9:29 a.m. It arms a direction when a candle closes beyond the opening range and, by default, beyond the corresponding overnight boundary as well. A return close inside the opening range can invalidate the setup.

For an armed setup, it places a rolling limit order at the prior bar’s low for a long or high for a short, with an adjustable offset. Settings limit the trading window, order age, position size, stop and target; the default also permits only the first filled pullback on each side per day and forces positions flat by 4:45 p.m. The description recommends a 15-minute MNQ chart. The document supplies strategy code and configurable rules, but no performance results or evidence that the setup is profitable. Results will depend on market, timeframe, execution assumptions and parameter choices.

Key ideas

• The opening range is the high and low of the first 15-minute bar starting at 9:30 a.m. New York time.
• Overnight highs and lows are tracked from 6:00 p.m. until 9:29 a.m.
• A breakout arms a trade only after a close beyond the opening range and, by default, the matching overnight boundary.
• The strategy uses prior-bar prices for rolling pullback limit orders and can invalidate setups after a close returns inside the opening range.
• Configurable controls include trade hours, stale-order cancellation, first-pullback limits, stops, targets and a force-flat time.

Tags

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