Nasdaq Opening-Range Breakouts with Configurable Stops and Targets

Summary

This strategy builds an opening range during a configurable period after the New York market open, then looks for a breakout confirmed by consecutive closes above the range high or below its low. It allows weekday filters and contract sizing, and enters at the relevant range boundary. Stops can be based on range size, ATR, fixed points, or the opposite edge of the range; targets can use a risk-reward multiple, ATR, or fixed points. Positions are closed at a specified end-of-day time.

The accompanying description says the strategy targets Nasdaq futures and suggests a five-minute chart with two confirming candles, along with a stated stop and target example. These are author suggestions, not independently reported test results. No performance statistics or market conditions are supplied, and the source’s configurable choices mean outcomes depend on settings, instrument, and execution assumptions.

Key ideas

• The strategy defines an opening range over a selectable interval beginning at the New York open.
• It enters after consecutive closes beyond the range high or low, with at most one trade per day.
• Stop and target levels can be chosen from several range, volatility, fixed-distance, or risk-reward methods.
• The author offers example settings but provides no quantified performance evidence in the document.

Tags

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