Opening Range Breakout Scalping with Filters and Risk Controls

Summary

The document presents a configurable opening-range breakout scalping strategy. It defines a session by start and end times and timezone, then builds a range over a chosen opening period. The visible inputs allow filtering trades by range size relative to ATR, VWAP direction, relative volume, and whether price closes beyond the range for a specified number of bars. Risk controls include range-based or ATR-based stops, a reward multiple target, partial exits, optional movement to breakeven, a daily trade limit, and position sizing based on account risk or equity.

The script specifies commission and slippage assumptions and offers chart display options for the range, VWAP, session boundaries, and failed breakouts. However, the supplied document ends partway through the visual settings and omits the remaining strategy logic, so the exact signal rules and order handling cannot be fully assessed. It provides configurable mechanics, not evidence of profitability: no backtest results, instrument, or evaluation period are shown. Results would depend on session definitions, data quality, execution assumptions, and parameter choices.

Key ideas

• The strategy frames entries around breaks of a time-defined opening range.
• Optional filters use ATR-scaled range size, VWAP, volume, and closes beyond the boundary.
• Stops may use the range or ATR, with partial exits and optional breakeven adjustment.
• Position sizing can be based on stop risk or a fixed equity percentage, subject to a size cap.
• The document is truncated before the complete entry and exit logic and reports no performance evidence.

Tags

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