NASDAQ Opening Range Breakouts with Relative Volume and Midpoint Stops

Summary

This intraday strategy records the NASDAQ opening range from 9:30 to 9:45 New York time, then permits one trade per day after the range is locked. It enters when a bar closes across the range high or low, provided relative volume meets a threshold. The stop is placed at the range midpoint, and the profit target is set using a configurable risk-reward multiple. Any open position is closed at the end of the trading day.

The script calculates relative volume against a 20-bar volume average and includes chart displays and alert messages. Its description says it is intended for 5-minute and 15-minute charts, but it supplies no backtest results, sample size, or evidence of profitability. The midpoint stop can produce different risk distances depending on the entry price, and execution costs or bar timing may affect simulated outcomes. The stated risk-reward setting defines a target distance relative to initial risk; it does not establish the strategy's realized expectancy.

Key ideas

• The opening range is formed during the first 15 minutes of the New York session.
• Entries require a close crossing the range boundary and relative volume above a threshold.
• The range midpoint is used as the stop, with a target set as a multiple of entry risk.
• The strategy limits entries to one per day and closes positions at the end of the day.
• The document reports no performance results or validated profitability.

Tags

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