Opening-Range Breakout Strategy with SMA and Higher-Timeframe Filters
Summary
The visible portion of this strategy script defines an initial balance (opening range) window, with configurable start and end times and a choice of timezone. It also includes pivot settings that appear intended to provide swing references for stop placement, a simple moving average for entry triggers, and an optional higher-timeframe moving-average filter. The filter’s stated logic requires price above the selected higher-timeframe average for longs and below it for shorts. Stop offsets can be set in points or as a percentage, and the setup can optionally be invalidated if price breaches the opposite opening-range boundary.
The document is truncated during the position-sizing inputs, before the actual entry, exit, and stop execution rules appear. It provides no instrument, test period, or performance report, so the full method and its effectiveness cannot be determined. The listed opening window defaults to 9:30–10:30 in New York time, but users can change it. Pivot confirmation also uses bars on both sides of a swing, which introduces confirmation delay according to the script’s own description.
Key ideas
- The strategy defines an opening-range window with configurable clock times and timezone.
- A simple moving average is included as an entry trigger, though the trigger logic is not visible.
- An optional higher-timeframe moving average filters long and short directions.
- Stops can use fixed price points or a percentage offset, with optional invalidation at the opposite range boundary.
- The source excerpt omits the trade rules and results, preventing a performance assessment.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.