Algo Torma ORB strategy by AlgoTorma
By AlgoTorma
Performance Metrics
- Author: AlgoTorma
- Symbol: CME_MINI:MNQ1!
- Timeframe: 1 minute
- Net P&L: +458.50 USD (+0.05%)
- Win Rate: 57.1%
- Profit Factor: 1.993
- Max Drawdown: 177.50 USD (0.02%)
- Total Trades: 21
Description
ORB Retest Strategy V5This strategy uses an Opening Range Breakout (ORB) retest approach based on the first 5 minutes of market activity. The goal is to identify early momentum, wait for confirmation, and enter on a pullback instead of chasing price.The strategy is designed for the 1-minute chart but can be adjusted for different markets and instruments.How the strategy worksThe opening range is built using the first 5-minute candle of the session (9:30–9:34 New York time).At 9:35, two levels are locked:ORB High → highest price of the first 5-minute candleORB Low → lowest price of the first 5-minute candleThese levels are displayed on the chart and extend only through the trading session instead of continuing endlessly across the entire chart. Previous days remain visible so traders can review historical behavior.The strategy does not immediately enter when price touches these levels.First, price must break outside the opening range with enough strength to avoid weak moves and false breakouts.After a breakout occurs:For long trades, price must break above the ORB High.For short trades, price must break below the ORB Low.Once a breakout is detected, the strategy places a limit order directly at the ORB level.This means:Long example:Price breaks above ORB High → strategy places a Buy Limit at ORB High → if price pulls back to that level, the order fills.Short example:Price breaks below ORB Low → strategy places a Sell Limit at ORB Low → if price retraces back to that level, the order fills.This method attempts to get better entries and improve reward-to-risk compared to entering after candle closes.Risk managementThe strategy includes several risk controls:Hard Stop LossA fixed stop loss is placed based on the number of ticks selected in the settings.Trailing StopOnce price moves in favor of the trade, the trailing stop begins following price to lock in profits while allowing larger moves to continue.Maximum Trades Per DayThe strategy limits the number of trades allowed each day to reduce overtrading.Daily Loss ProtectionIf a losing trade occurs, the strategy can stop taking additional setups for the remainder of the session. This helps avoid trading during unfavorable market conditions.Session Close ProtectionAny open positions are automatically closed at the end of the trading window.Adjustable settingsThe settings can be customized for different markets.Hard StopControls maximum risk per trade.Trail ActivationDetermines how far price must move before the trailing stop activates.Trail OffsetControls how closely the stop follows price after activation.Minimum ORB SizeFilters out very small opening ranges that often create choppy conditions and false signals.Breakout BufferRequires price to move beyond the ORB level before the strategy considers it a valid breakout.Maximum Trades Per DayControls how many setups can be taken during a session.NotesNo single set of parameters works perfectly for every instrument.Highly volatile products such as MNQ, NQ, or crypto may require larger stop values and larger breakout buffers.Lower-volatility products such as ES, MES, SPY, or forex pairs may perform better with smaller values.Backtesting and forward testing are recommended before using live capital.This strategy is intended as a framework that traders can adapt to their own market and risk preferences rather than a fixed system with universal settings.