ORB + Fib Breakout Signals (Strategy) by chadsingh
By chadsingh
Performance Metrics
- Author: chadsingh
- Symbol: CME_MINI:MNQ1!
- Timeframe: 30 minutes
- Win Rate: 36.3%
- Profit Factor: 1.134
Description
ORB + Fib Breakout Signals (Strategy)An opening-range breakout (ORB) strategy combined with Fibonacci levels and adefined risk model. It marks the session's opening range, goes long on a breakabove the range high and short below the range low, then manages the trade withan ATR-based stop, an R-multiple target, and an optional breakeven move.How it works- Opening range — builds the high/low of the first 15/30/60 minutes of your chosen session (timezone configurable).- Entry — long on a close (or wick) above the ORB high, short below the ORB low; one signal per direction per day by default.- Fib levels — plots the standard retracements (.236–.786) inside the range plus the 1.272 / 1.618 extensions as reference targets.- Risk model — stop by ATR (default), Fib 0.5, opposite side of the range, or fixed ticks; target as a multiple of risk (default 2R); optional move to breakeven after 1R.- Optional filters — a higher-timeframe EMA trend filter and a scale-out that books half at 1R and lets the remainder run.- Daily guards — max entries per day, daily loss limit, optional daily profit lock, and flat-at-session-close, for prop-style risk rules.Inputs are grouped (Opening Range, Signals, Fibonacci, Trend Filter, Risk Model,Daily Guards) so you can adapt it to any index future or timeframe.Notes- Commission and slippage are included in the defaults — set them in Properties to match your broker before drawing conclusions.- Performance varies with symbol, timeframe, and settings. Test on your own data and forward-test on a simulator before trading it live.- This is an educational tool, not financial advice. Past backtest results do not guarantee future performance.