Session Opening Range Breakout with Risk-Based Position Sizing

Summary

This expert advisor measures the high and low during a configurable opening interval using one-minute data. After that range is complete, it watches for a chart-period bar to close beyond either boundary plus a buffer. A breakout can trigger one market position per session, with the stop placed beyond the opposite edge of the range and the profit target set as a multiple of stop distance. Inputs control session time, range and trading-window lengths, trade direction, trade limit, buffers, and whether position size is based on account risk or a fixed lot.

The guide says the method is intended for instruments with a clear intraday session rhythm and notes that chart timeframe changes how often confirmation is checked. It highlights broker-time offsets and daylight-saving changes, the need for available one-minute history, and spread-related false breaks. It recommends realistic-tick backtesting, but supplies no performance results. Actual fills, parameter sensitivity, and suitability across symbols remain unestablished; the opening-range rationale is a strategy premise, not evidence of an edge.

Key ideas

• The EA defines an opening range from one-minute bars and checks for a later confirmed close outside it.
• Breakout entries use a buffered trigger, an opposite-range stop, and a reward target based on stop distance.
• Position sizing can use a percentage of account balance or a fixed lot, with a per-session trade cap.
• Broker-time settings, daylight-saving changes, spread, and one-minute history affect practical use.
• The guide recommends realistic-tick backtesting but reports no strategy performance.

Tags

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