Opening-Range Breakouts from the First 30-Minute High and Low

Summary

This intraday strategy records the high and low of a configurable session, set by default to 9:45–10:15, using 30-minute price data. It then signals a long entry when price crosses above that range’s high and a short entry when price crosses below its low. The levels are plotted on the chart, and the strategy resets its signal flags at the start of a new day.

The author reports preferring five-minute Heikin Ashi candles and suggests exiting after two consecutive candles against the position, while leaving profit targets to individual judgment. These discretionary trade-management suggestions are not encoded in the provided strategy, which has no explicit stop or target orders. The document presents an observed approach but supplies no backtest statistics, sample description, or evidence that the candle choice or exit rule improves results. Its performance may depend on session definition, market, timeframe, and execution assumptions.

Key ideas

• The method defines an opening range using the high and low of a configurable session.
• A cross above the range high triggers a long signal, while a cross below the low triggers a short signal.
• The default range uses 30-minute data from 9:45 to 10:15.
• The author recommends five-minute Heikin Ashi charts and a two-candle opposite-color stop, but these rules are not implemented in the code.
• No backtest evidence or fixed profit target is supplied.

Tags

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