One-Trade-Per-Day Opening Range Breakout with SMC Signals

Summary

This script combines an opening range breakout with market-structure and fair-value-gap conditions, while limiting entries to one trade per day. It builds the opening range from a configurable session, then permits a long after price closes above the range high or a short below the range low. The corresponding setup also needs a recent change-of-character signal and a bullish or bearish fair value gap. Entries are limited to regular trading hours and an entry window, with a stated two-times-opening-range target and an ATR-based trailing exit.

The visible code also defines a partial-exit condition around one unit of opening-range risk or a moving-average crossover, but the document cuts off during this management section, so the full exit behavior cannot be assessed. It provides no backtest results or market-specific evidence. Session times and timezone are configurable, and the implementation relies on pivot-based swing points and bar-based signals; users would need to inspect the full script and test execution assumptions before evaluating its behavior.

Key ideas

• The opening range is calculated during a configurable initial session.
• A trade requires a range breakout plus recent structure-change and fair-value-gap signals.
• The logic limits entries to one trade per day and restricts them to specified sessions.
• The visible exit setup uses an ATR trail and a target based on the opening-range size.
• The source ends during trade management and provides no performance evidence.

Tags

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