NY Opening Range Breakout - MA Stop — Strategy by shui2967
By shui2967
Performance Metrics
- Author: shui2967
- Symbol: NASDAQ:QQQ
- Timeframe: 5 minutes
- Net P&L: −3.61 USD (0.00%)
- Win Rate: 28.4%
- Profit Factor: 0.971
- Max Drawdown: 30.28 USD (0.00%)
- Total Trades: 102
- Sharpe Ratio: −312.923
Description
Core ConceptThis strategy trades breakouts from the New York opening range (9:30-9:45 AM NY time) on intraday timeframes, designed for scalping and day trading.Setup RequirementsTimeframe: Works on any timeframe under 15 minutes (1m, 2m, 3m, 5m, 10m)Session: New York market hoursRange Period: 9:30-9:45 AM NY time (15-minute opening range)Entry RulesLong Entries:Wait for a candle to close above the opening range highEnter long on the next candle (before 12:00 PM NY time)Must be above moving average if using MA-based take profitShort Entries:Wait for a candle to close below the opening range lowEnter short on the next candle (before 12:00 PM NY time)Must be below moving average if using MA-based take profitRisk ManagementStop Loss:Long trades: Opening range lowShort trades: Opening range highTake Profit Options:Fixed Risk Reward: 1.5x the range size (customizable ratio)Moving Average: Exit when price crosses back through MABoth: Whichever comes firstKey FeaturesTrade Direction Options:Long OnlyShort OnlyBoth directionsMoving Average Filter:Prevents entries that would immediately hit stop lossUses EMA/SMA/WMA/VWMA with customizable lengthActs as dynamic support/resistanceTime Restrictions:No entries after 12:00 PM NY time (customizable cutoff)One trade per direction per dayDaily reset of all variablesVisual ElementsRed/green lines showing opening rangePurple line for moving averageEntry and breakout signals with shapesTake profit and stop loss levels plottedInformation table with current statusStrategy Logic FlowMorning: Capture 9:30-9:45 range high/lowWait: Monitor for breakout (previous candle close outside range)Filter: Check MA condition if using MA-based exitsEnter: Trade on next candle after breakoutManage: Exit at fixed TP, MA cross, or stop lossReset: Start fresh next trading dayThis is a momentum-based breakout strategy that capitalizes on early market volatility while using the opening range as natural support/resistance levels.