Retesting the New York Pre-Open Range with ATR Stops

Summary

This intraday strategy records the high and low during a brief pre-open session in New York time. During the regular session, a close above that range sets a long limit entry at the range high; a close below it sets a short limit entry at the range low. The visible code places a stop beyond the opposite side of the range by an ATR-based amount and sets a profit target at a configurable multiple of the entry-to-stop distance. Inputs include the ATR period, stop multiplier, target multiple, and order duration.

The document contains only a partial script, ending before the remaining trade-management logic is shown, and provides no backtest results, market selection, or timeframe context. Although its title refers to a retest, the excerpt shows a breakout close followed by a limit order at the range boundary; whether the order is filled and how long it remains active depends on omitted code and platform behavior. The New York session definitions, daily reset logic, fills, and handling of unfilled orders should be verified before drawing conclusions about performance.

Key ideas

• The method defines a range from the pre-open session high and low.
• A close outside the range creates a limit entry at the breached boundary.
• Stops extend beyond the opposite range edge using an ATR-based distance.
• The profit target is set as a multiple of the entry-to-stop distance.
• The script is truncated and includes no evidence of backtested performance.

Tags

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