Opening-Range Breakouts Filtered by Range Size

Summary

This opening-range breakout strategy defines a range from configurable exchange-local start and end times, then classifies its size as small, medium, or large by comparing its width with the opening price. Small and medium ranges are tradeable, while large ranges are rejected. The visible settings include small and large thresholds of 0.50% and 1.00%, a default opening window from 08:00 to 08:25, and an entry cutoff at 11:00. The script also offers take-profit modes based on an R multiple, an opening-range projection, or no target, plus an optional session-time exit.

The excerpt explains how the script uses the chart symbol’s exchange timezone and the platform’s session engine to identify bars within the selected windows. However, the supplied document ends before showing the breakout entry conditions, stop logic, or any performance report. It therefore supports describing the range construction and filters, but not assessing the complete trade rules or results. The thresholds and times are configurable and may need market-specific evaluation.

Key ideas

• The strategy builds an opening range from configurable exchange-local session times.
• It rejects large ranges while allowing small and medium ranges to be traded.
• The visible defaults set size thresholds at 0.50% and 1.00% and an opening window from 08:00 to 08:25.
• Take-profit options include an R multiple, an opening-range projection, or no target.
• The excerpt omits the breakout entry rules and performance evidence.

Tags

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