New York Opening-Range Breakout with One Daily Trade

Summary

This strategy records the high and low of the New York 09:30–09:35 reference window, then monitors for a candle close outside that range during the later session. A close above the range triggers a long position; a close below triggers a short. The script allows one entry per New York trading day. Stop distance is the larger of the opening range and an instrument-dependent minimum, and the take-profit distance is set by a configurable reward-to-risk ratio. The source draws boxes to show the planned stop and target areas.

The document describes the method and suggests using a one-minute chart for body-close precision, but it includes no strategy results or evidence of profitability. Its descriptive text mentions previous-day high and low levels, yet the supplied code does not calculate or plot them. The minimum stop conversion depends on symbol tick size and may need careful validation across markets; timeframe, session handling, and execution assumptions also affect backtest interpretation.

Key ideas

• The reference zone is the high and low recorded during the New York opening window.
• A later candle close beyond either boundary triggers a directional entry, while a wick alone does not.
• The strategy limits entries to one per day and uses the greater of the range width or an instrument-specific stop floor.
• The target distance is derived from the stop distance and a configurable reward-to-risk ratio.
• The document supplies no performance evidence, and its prose mentions previous-day levels that are absent from the code.

Tags

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