MNQ Opening Range Midpoint Retests with Scaled Targets

Summary

The strategy builds a price range during the 8:00–8:15 a.m. Eastern session, then fixes its high, low, and midpoint. Between 9:45 and 11:00 a.m., it waits for a close outside the range and enters when price retests the midpoint in the breakout direction. The stop is placed at the opposite range boundary, defining risk for the trade.

The script allocates 70% of a 10-contract position to a 2R target and the remaining 30% to a 4R target; the runner’s stop moves to entry once the 2R level is reached. It closes open positions at the end of the trading window and stops for the day after two consecutive losing trades. The document provides the rules and code, but no performance results or validation. Instrument sizing, fill assumptions, and the use of fixed session times may affect outcomes; the script’s title refers to MNQ while its description also mentions MES.

Key ideas

• The strategy defines an opening range from the 8:00–8:15 a.m. Eastern session.
• A close beyond the range sets direction, and a midpoint retest triggers an entry during the later trading window.
• The opposite edge of the range is the initial stop level.
• The position is split between 2R and 4R profit targets, with the runner’s stop moved to entry after the first target is reached.
• Trading is disabled for the day after two consecutive losing trades.

Tags

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