Opening Range Breakout Strategy with Configurable Risk and Time Filters

Summary

The document introduces a Pine Script strategy named for opening range breakouts and shows configuration for equity-based order sizing. Its visible settings include optional time-of-day and weekday filters, along with a monthly filter whose inputs begin before the excerpt ends. The script also describes configurable stop-loss methods, including ATR-based, candle-based, and opening-range midpoint levels, plus a risk-reward target and an option to move stops to breakeven.

The source is incomplete, so the actual opening-range calculation, entry and exit conditions, and performance evidence are not available. The settings alone do not establish how the strategy defines its range or whether the filters and risk controls improve results. Treat this as a partial implementation description rather than a tested trading method; the excerpt gives no instrument, backtest statistics, or caveats about execution.

Key ideas

• The script exposes optional filters for trading time and days of the week.
• Visible settings include monthly filtering, though the excerpt cuts off partway through those inputs.
• Stop-loss choices include ATR-based, candle-based, and opening-range midpoint levels.
• The strategy provides settings for risk-reward targets, breakeven movement, and equity-based sizing.
• The excerpt does not show the entry logic or any performance results.

Tags

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