Opening Range Breakout Research Tool with Entry and Session Filters

Summary

This script is a configurable opening range breakout framework for intraday trading. It calculates the opening range from five-minute data and offers entries on the first five-minute close outside the range, a later five-minute retest, or a fifteen-minute close beyond it. A retest buffer and a stop buffer beyond the opposite side of the range are adjustable. The tool also supports optional filters for opening-range size, session VWAP direction, weekday, and month, and can force positions flat at a specified New York time.

The excerpt describes a research tool and its controls, not a completed evaluation. It includes no instrument, tested date range, trade log, or performance statistics, and the supplied source ends before the full engine and order logic are visible. Results would depend on chart timeframe, selected entry mode, filters, and execution assumptions; the document does not show that any configuration has an edge.

Key ideas

• The opening range is calculated from five-minute bars, with configurable range duration.
• Entries can follow a five-minute breakout, a post-break retest, or a fifteen-minute breakout.
• Stops can be buffered beyond the opposite side of the opening range.
• Optional filters use opening-range size, VWAP direction, weekday, and month.
• The excerpt supplies settings but no backtest results or complete implementation.

Tags

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