Caspers Super Simple Proven Strategy

This script is based on the youtube video created by Casper SMC, detailing his super simple and proven strategy for the 5 minute range. Here's a link to his video.

This script is for informational purposes and should not be used for trading due to the poor win-rate. Backtesting over historical data shows that this has a poor win-rate of around 27% going back to 2008.

Here's is how the strategy works, based on how Casper explains it in his video:

1. Define the Opening Range
• At the start of your chosen session window (e.g. 09:30–09:35), capture the high and low of every 1-minute bar and lock them in at session end.
2. Scan Each Minute After the Range Window for a breakout of that Opening Range:
a) Breakout + Fair-Value-Gap
1. Confirm a Fair Value Gap.
2. Check that the body closes outside the Opening Range.
3. Enter on the close of Bar 3.
4. Stop-Loss at Bar 2’s extreme (low for longs / high for shorts).
5. Take-Profit at twice the risk distance (2 R).
b) Breakout without Fair-Value-Gap
1. If the range is broken but no valid imbalance, hold.
2. Wait for price to retest the locked-in range.
3. Then look for the next valid three-bar imbalance in the same direction.
4. Enter on the close of that Bar 3.
5. Stop-Loss at the body-break bar’s extreme.
6. Take-Profit at twice the risk distance (2 R).
3. Risk Management
• Every trade uses a fixed stop-loss and a 2 R target.
4. Exit
• Close on the first touch of SL or TP.
5. One Signal per Session
• After an entry, ignore further signals until the next session resets.
6. Supported Session Windows
• Asia: 19:00–19:05 local
• London: 03:00–03:05 local
• New York AM: 09:30–09:35 local
• New York PM: 13:30–13:35 local