Opening Range Breakouts Filtered by SuperTrend and Volume

Summary

This script builds an opening range from a configurable number of candles after a selected session start. It looks for a close above the range high for a long entry or below the range low for a short entry, with the breakout candle's direction and SuperTrend state also checked. A volume filter, enabled by default, requires current volume to exceed its moving average. The visible long-side exit orders use the opposite range boundary as a stop and set a profit limit from a configurable risk/reward ratio.

The source excerpt ends during the short-entry section, so it does not show the complete short-side position management or all intended opposite-breakout exits. It supplies parameters and code but no reported backtest results, instrument-specific findings, or discussion of execution quality. The range collection condition combines hour and minute comparisons, so the behavior may depend on chart timeframe and session settings; the document does not explain or validate those details. Treat it as a strategy template rather than evidence of profitability.

Key ideas

• The opening range is formed from a configurable count of candles beginning at a selected session time.
• Breakout entries require a directional close and a confirming SuperTrend direction.
• A default volume filter compares current volume with its moving average.
• The visible long setup places a stop at the opposite range boundary and a target based on a configurable risk/reward ratio.
• The excerpt is incomplete and provides no backtest results.

Tags

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