Session-Based Opening Range Breakouts with Trailing Stops

Summary

This strategy builds opening ranges during specified London and New York windows, then trades breakouts during their respective entry periods. It offers a session selector, a minimum distance beyond the range before entry, and an optional filter based on whether the earlier Asia range has already broken. A 15-minute exponential moving average filter can also be enabled. The settings include an account-risk percentage and dollar value per point, alongside options to display ranges and risk levels.

The visible portion of the script defines session times in the New York timezone, tracks the Asia range, and sets configurable trade closing times. Its title indicates trailing-stop management, but the supplied excerpt ends during the Asia-range drawing logic, before breakout entries and stop handling are shown. The source includes assumed capital, contract sizing, commission, and margin settings, but no strategy report or measured results. These parameters and the session rules would need validation against the intended market, chart interval, and execution conditions.

Key ideas

• The method defines separate opening ranges and trading windows for London and New York sessions.
• A breakout must exceed the range by a configurable minimum distance before entry.
• An optional Asia-range filter excludes or qualifies setups based on whether that range broke before the London opening range.
• The settings allow account-risk sizing, a 15-minute EMA filter, and scheduled session trade closures.
• The excerpt does not show the breakout entries or trailing-stop implementation, and it reports no performance results.

Tags

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