Opening Range and Prior-Day Sweep Retest Strategy for MNQ

Summary

This script outlines an intraday strategy for MNQ futures that combines opening-range breakouts with prior-day high and low sweeps. It records the range during a configurable window after the New York open and permits breakout setups only when the range falls within configured point limits. A close beyond the range arms a retest setup; a wick through a prior-day extreme followed by a close back inside arms a sweep setup, with sweeps given priority. The script also defines ATR-based stop sizing, target multipliers, contract limits, a daily loss threshold, and a one-trade-per-day state.

The supplied document ends partway through the invalidation logic, so it does not show the complete retest entry, exit, or position-management behavior. It includes no backtest results or performance analysis. Its timing and range rules are specific to the stated instrument and session, and the code’s historical-data and execution assumptions would need review before conclusions could be drawn from any test.

Key ideas

• The script defines an opening range from prices observed after the New York market open.
• It arms breakout trades after a close outside a range whose size falls within configured limits.
• Prior-day high or low sweeps can override opening-range setups and arm a retest level.
• ATR-based stop parameters, target multipliers, contract caps, and a daily loss limit are included.
• The excerpt is incomplete and provides no test results or full entry and exit logic.

Tags

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