custom session breakout strategy, it uses a percentage of daily atr to set breakout limits. strategy only viable for intraday timeframes and is suggested under 1hour.
Sürüm Notları
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Fixed a issue when 1st bar on open closed beyond the buy/sell lines and didnt trigger a trade.
Great work and appreciate the script.
Any updates ?
iDS7
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I also noticed this
It would seem the strategy itself is not reporting a few of the "breakeven" trades, which keeps the strategy seemingly profitable in itself. Would you mind explaining if I'm correct on this and if so how to avoid it? I feel like this might be producing a bit of false numbers but am not sure.
gyazo.com/3b0f5bc04dee2868b4b8daf7b67c9262
RicardoSantos
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@Maustula, its possible im currently not tracking this, but may be something due to tradingview's engine.
Firstly, thanks for your work on this, Quite nice for sure.
I am playing around with this due to being a opening range breakout and volume profile trader.
I believe and think most people are having difficulty understanding the " Percent Range Breakout " and that this actually adjusts your high and low for the breakout itself.
My question after all of this is, how do I set the buys and sells when bars close above / below the opening breakout area of specified times, is this an option?
RicardoSantos
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@Maustula, percent range multiplier is a modifier for the daily atr range, set it to the percent of the daily atr you want to draw the breakout lines.
" how do I set the buys and sells when bars close above / below the opening breakout area of specified times, is this an option?"
its not.
E3V3A
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This look interesting, but TBH I don't understand what the indicators (small arrows and the colored fields) are actually showing. Can you explain a bit the theory for this indicator and how to use it? Any external links to similar ideas?
RicardoSantos
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@E3V3A, pretty much all self explanatory, colored field is the trade parameters entry/profit/loss, arrows are the strategy execution, purple background field is the session length, dark green/red are the opening session range.
google/search open range breakout?
Any updates ?