High-Low Breakout Strategy with ATR traling Stop Loss by SK-WEALTH-GURU
By SK-WEALTH-GURU
Performance Metrics
- Author: SK-WEALTH-GURU
- Symbol: NSE:TRENT
- Timeframe: 5 minutes
- Net P&L: −24.91 INR (−0.25%)
- Win Rate: 48.7%
- Profit Factor: 0.995
- Max Drawdown: 1,251.55 INR (11.33%)
- Total Trades: 78
- Sharpe Ratio: −0.058
Description
Jan 30This script is a TradingView Pine Script strategy that implements a High-Low Breakout Strategy with ATR Trailing Stop.created by SK WEALTH GURU, Here’s a breakdown of its key components:Features and FunctionalityCustom Timeframe and High-Low DetectionAllows users to select a custom timeframe (default: 30 minutes) to detect high and low levels.Tracks the high and low within a user-specified period (e.g., first 30 minutes of the session).Draws horizontal lines for high and low, persisting for a specified number of days.Trade Entry ConditionsLong Entry: If the closing price crosses above the recorded high.Short Entry: If the closing price crosses below the recorded low.The user can choose to trade Long, Short, or Both.ATR-Based Trailing Stop & Risk ManagementUses Average True Range (ATR) with a multiplier (default: 3.5) to determine a dynamic trailing stop-loss.Trades reset daily, ensuring a fresh start each day.Trade Execution and Partial Profit TakingStop-loss: Default at 1% of entry price.Partial profit: Books 50% of the position at 3% profit.Max 2 trades per day: If the first trade hits stop-loss, the strategy allows one re-entry.Intraday Exit ConditionAll positions close at 3:15 PM to ensure no overnight risk.Jan 31Release NotesThis script is a well-structured Pine Script strategy for TradingView by SK WEALTH GURU. That implements a high-low breakout strategy with an ATR-based trailing stop-loss. It includes various trade management features like break-even adjustment, profit locking, and partial profit-taking. Here’s a breakdown:🔹 Key Features:Custom Timeframe High-Low Detection:It captures the high and low of a specified time window each trading day.These levels are extended for a configurable number of days.ATR-Based Trailing Stop:Uses an ATR (Average True Range) multiplier to dynamically set a trailing stop-loss.Trade Entry Conditions:Long Trade: When the price breaks above the high of the tracked timeframe.Short Trade: When the price drops below the low of the tracked timeframe.Trade Management:Break-even: Moves stop-loss to entry price when price moves favorably.Profit Locking: Adjusts stop-loss as price moves in favor of the trade.Partial Profit Booking: Closes 50% of the position after a predefined profit percentage is reached.Daily Reset & Trade Control:Resets trade triggers and activity status at the start of a new day.Ensures only one trade per day per direction.Automatically closes all open positions at 3:15 PM.Jan 31Release Notesstrategy("High Low Breakout with ATR (Developed by SK Wealth Guru) ©", overlay=true)Logic of the Strategy:This Pine Script strategy is designed to trade breakouts based on the first 30-minute high and low of the market session. It uses the Average True Range (ATR) Trailing Stop to manage risk and maximize profits.Key Logic:Identifying the First 30-Minute Range:The script tracks the high and low of the first 30 minutes of trading.These levels act as key support and resistance for potential breakout trades.Trade Entry Rules:Long Entry: If price breaks above the first 30-minute high, a buy trade is initiated.Short Entry: If price breaks below the first 30-minute low, a sell trade is initiated.Only one trade per day is allowed to avoid overtrading.ATR-Based Trailing Stop:Stop-loss is set using ATR (Average True Range) × Multiplier (3.5).The stop moves in favor of the trade, locking in profits while allowing the trade to run.Profit Management:Partial profit booking: 50% of the trade is closed when the price moves 3% in favor.Final exit: The remaining trade is closed if ATR trailing stop is hit or at 3:15 PM.Risk Management:A stop-loss buffer is added to ensure execution.Positions are forcefully closed at 3:15 PM to avoid overnight risks.Feb 15Release NotesStrategy Description: High Low Breakout (SK Wealth Guru) ©Overview:The High Low Breakout (SK Wealth Guru) © strategy is designed to capitalize on the breakout of the first 30-minute high and low. It integrates ATR-based stop-loss and profit targets while ensuring proper risk management, making it a robust approach for intraday trading.🔹 Key Features:✅ Breakout Strategy: Captures the first 30-minute high and low and triggers trades upon breakout.✅ ATR-based Stop Loss & Target: Uses ATR multiplier to manage risk effectively.✅ Realistic Risk Management: Default risk per trade: 2%, adjustable between 1% - 10%.✅ Webhook Alerts: Sends alerts for entry, exit, and intraday closing.✅ Auto Close at 3:15 PM IST: Ensures all open positions are closed before market end.⚙️ Strategy Logic:🔹 Trade Entry Conditions:Long Entry → When price breaks above the first 30-minute high.Short Entry → When price breaks below the first 30-minute low.🔹 Trade Exit Conditions:Stop Loss & Target: Based on ATR x Stop Multiplier.Intraday Closing: All open positions are closed at 3:15 PM IST.🔹 Risk Management:Risk per trade: 1% - 10% (Default: 2%).Commission: 0.05% | Slippage: 1📊 Backtesting Guidelines (TradingView House Rules Compliance):✔ Realistic Account Size (₹10,000 Default)✔ Risk per trade ≤ 10%✔ 100+ trades for valid sample size✔ Webhook & closing time clearly defined🚀 Use this strategy for educational purposes and conduct thorough backtesting before live trading!