PDH/PDL Break 0DTE — Strategy by samirdave1992
By samirdave1992
Performance Metrics
- Author: samirdave1992
- Symbol: NASDAQ:QQQ
- Timeframe: 1 hour
- Win Rate: 41.1%
- Profit Factor: 0.542
Description
**"PDH/PDL Break 0DTE"** — a same-day intraday breakout strategy meant for 0DTE-style trading windows (e.g., SPY morning session).**Core idea:** trade a break of yesterday's high or low, but only when trend, momentum, and time-of-day all line up.**Trend filter:** VWAP vs. a 1-hour EMA (default length 20). VWAP above the EMA = bullish bias; below = bearish. This is the green/red "ribbon" on the chart.**Momentum filter:** a simplified WaveTrend oscillator measures how far price has stretched from its own 10-period baseline. Trades are only allowed when that stretch is under an extreme threshold (default ±60) and moving in the same direction as the trade.**Setup:**- **Long** — price closes above yesterday's high, trend is bullish, momentum is rising and not overextended, and it's inside the allowed session window (default 9:30–11:30 ET).- **Short** — price closes below yesterday's low, trend is bearish, momentum is falling and not overextended, same session window.Each direction can only fire once per day (`longFired`/`shortFired` reset at each new session).**Risk management:** stop is placed back at the breakout level itself (PDH for longs, PDL for shorts), and the target is a multiple of that risk (default 2:1 R:R). Any open position is force-closed once the session window ends ("Time Exit"), so it never carries risk past the intended trading hours.**Extras added along the way:** editable colors for every plot, alert conditions for both breakout directions, and an on-chart status table showing trend, WaveTrend value + its price baseline + dollar drift, session state, and current position — so you can read the strategy's internal state at a glance instead of decoding overlapping chart elements.