Premarket Range Breakouts with Trend and Volatility Filters

Summary

The visible portion describes an intraday breakout system that tracks premarket highs and lows, then looks for regular-session closes beyond those levels. It can filter trades using ADX strength and Bollinger Band width to avoid low-trend or low-volatility conditions. Risk settings include either ATR-based stops or percentage-based stops, with profit targets derived from a configurable risk/reward ratio. The script also begins a first-minutes fakeout filter that detects moves beyond premarket levels that close back inside them.

The supplied document ends partway through the code, before the fakeout blocking logic and order execution are fully visible. It gives input defaults and session rules but no instrument, backtest period, or performance results. The visible conditions therefore explain the intended setup but are insufficient to establish complete entry, exit, and trade-blocking behavior. The anti-chop and early-session filters are configurable and may change which breakouts qualify.

Key ideas

• The system tracks premarket highs and lows as reference levels for regular-session breakouts.
• ADX and Bollinger Band width can filter trades during weak-trend or narrow-range conditions.
• Stops can use ATR multiples or a fixed percentage, with targets set by a risk/reward input.
• An early-session filter detects moves beyond premarket levels that close back inside.
• The truncated source and absent backtest results prevent assessment of the complete strategy.

Tags

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