Nasdaq Opening Range Breakouts with Configurable Stops and Targets

Summary

This script describes an opening-range breakout strategy for Nasdaq trading. It builds a range during a configurable window beginning at 9:30 a.m. New York time, with duration choices from 5 to 60 minutes. The visible code includes weekday filters and a setting for the number of consecutive candles required for a breakout. It also defines contract sizing and selectable stop methods: a percentage of the range, an ATR multiple, fixed points, or the opposite side of the opening range. Profit targets can be set by risk-reward multiple, fixed points, or ATR multiple.

The supplied text ends partway through the target calculation, before breakout entries, exits, and the rest of the script are shown. Although the title refers to a 15-minute range and fixed stop and target, the visible settings allow multiple range durations and risk methods. No market data, backtest results, or performance evidence is included. Consequently, the precise breakout trigger, trade frequency, and realized risk behavior cannot be assessed from this excerpt.

Key ideas

• The script defines an opening range beginning at 9:30 a.m. New York time, with configurable durations from 5 to 60 minutes.
• Weekday filters, consecutive-candle settings, and contract quantity are configurable.
• Stop choices include range percentage, ATR multiple, fixed points, and the opposite range boundary.
• Targets can use a risk-reward multiple, fixed points, or an ATR multiple.
• The excerpt ends before entry and exit logic is shown, and gives no backtest results.

Tags

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