Session-Range Breakouts with Stop, Target, and Time Exits

Summary

This intraday strategy records the highs and lows observed during a user-selected session, then enters long when the close crosses above the recorded high or short when it crosses below the low. It permits only one open position at a time. Stop levels are based on the prior bar at the position transition, and take-profit levels are calculated from the entry price using a configurable risk-to-reward multiple. A separate exit session closes positions and clears the stored range; the script also includes a session-boundary close condition.

The available source is truncated during its plotting section, so the full script and its behavior cannot be confirmed from this document. It provides no market, timeframe, backtest settings, or performance results. The strategy’s range depends on the selected session and chart resolution, while the entry and stop rules may be sensitive to bar timing and how the platform processes orders. The material describes a testable breakout framework, but it does not establish that the setup is profitable or specify controls for gaps, slippage, or other execution risks.

Key ideas

• The strategy stores highs and lows during a configurable session to define a trading range.
• It enters long or short when the close crosses the corresponding range boundary.
• Stops use the prior bar’s low for longs and high for shorts, with targets based on a risk-to-reward multiple.
• A designated exit session closes open positions and clears the stored range.
• The source is truncated and gives no backtest evidence or execution-risk analysis.

Tags

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