Session Opening Range Breakouts with VWAP and EMA Trend Filters

Summary

This script outlines an intraday opening-range breakout strategy with configurable session presets for the US open, Asian hours, or a custom time window. It builds a range during an initial period, then defines a later trading window, with a scheduled flattening time before the session ends. The visible inputs include a breakout buffer as a percentage of the range, a maximum range width, a cap on trades per session, and a target multiplier based on range width. Session VWAP and an EMA trend ribbon are also included as chart features.

The supplied excerpt is incomplete: it ends during the opening-range engine, before the entry, exit, and filter rules appear. It also provides no backtest report or performance evidence. As a result, the available text supports describing the intended framework and risk controls, but not evaluating the exact trading logic or its results. The script sets assumed commission, slippage, and margin values, which would affect any eventual backtest and should be checked against the intended market and execution conditions.

Key ideas

• The strategy is organized around a range measured during the opening portion of a selected session.
• It supports US, Asian, and custom session windows based on New York time.
• Inputs allow a breakout buffer, a maximum range width, a per-session trade limit, and a range-based target multiplier.
• Session VWAP and an EMA ribbon are included as visual context in the visible excerpt.
• The source ends before the entry and exit rules, and no backtest results are provided.

Tags

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