Opening Range Break and Return Strategy with Fixed Exits

Summary

The script builds an opening-range box from the high and low during a configured session, then watches for price to break beyond either boundary and return inside. The return is intended to generate a reversal trade: a break above the range can arm a short, while a break below can arm a long. Inputs control whether a break and return may occur on the same bar, whether the signal must close back inside the range, and whether entries are allowed only when flat.

The visible configuration also specifies a signal window, signal-bar-close or next-bar-close entry timing, fixed point targets and stops, and optional flattening at the end of the window. It includes chart and status display settings and declares commission and slippage assumptions. However, the supplied document cuts off during the return-signal logic, so the full entry and exit implementation cannot be confirmed. No backtest results are included, and the stated trading costs and fixed exits do not establish performance.

Key ideas

• The strategy defines an opening range using the high and low of a configured session.
• A move outside the range arms a possible trade in the opposite direction if price returns inside.
• Inputs control same-bar signals, close-inside confirmation, entry timing, and flat-only entries.
• The visible settings specify fixed point stops and targets, trading costs, and an optional session-end close.
• The document is truncated before the complete signal and execution logic, and it reports no results.

Tags

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