Trading the New York Open with a 15-Minute Opening Range Breakout

Summary

This MNQ strategy builds an opening range from the New York session’s first 15 minutes, recording its high and low. During the following trade session, a confirmed bar that closes outside the range can trigger a long above the high or a short below the low; an option allows intrabar high or low breaks instead. The default controls restrict trading to one position per day, allow either direction to be disabled, and can close positions at the session end.

Orders use a fixed contract quantity and attach a take-profit, stop-loss, and trailing stop with a specified activation threshold. The script also defines commission, slippage, and alert payloads for a broker integration. The document calls the trailing behavior aggressive but supplies no strategy report, trade count, or performance results. Its configured quantities and distances are inputs rather than general risk guidance, and results depend on instrument settings, session handling, fills, and costs.

Key ideas

• The opening range is set from the first 15 minutes of the New York session.
• Breakouts are evaluated during the later trade session, by default using confirmed closes beyond the range.
• The strategy can limit entries to one per day and independently enable long and short trades.
• Trade exits combine fixed profit and loss distances with a trailing stop and optional end-of-session closure.
• The document provides implementation settings but no evidence that the strategy is profitable.

Tags

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