Pro Trading Art Open Range Breakout Strategy by protradingart
By protradingart
Performance Metrics
- Author: protradingart
- Symbol: NSE:BANKNIFTY
- Timeframe: 5 minutes
- Net P&L: +1,580.35 NONE (+0.16%)
- Win Rate: 61.8%
- Profit Factor: 1.273
- Max Drawdown: 2,406.90 NONE (0.24%)
- Total Trades: 68
- Sharpe Ratio: −0.965
Description
Sep 10, 2022This strategy is based on Selected Candle High Low Breakout with buffer point.You can select specific candle from input tab by giving time of that candle.Default Settings:Start Hour : Hour of starting candle means from this input you can specify opening candle. Default is 9.Start Minute: Minute of starting candle. Default is 15. Means Default opening candle is 9:15Stop Hour : Means After this time no new trade will execute.End Hour & End Minute & Close All Trade : Means when you specify End Hour and Minute and Close all trade is true then strategy will close all trade on specified time.Buffer : With the help of this option you can add some point in High and low of Opening CandleTrade Mode : You can specify Target and Stop Loss in point or PercentStop Loss Point or Percent : This will work according to Trade ModeTarget Point Or Percent : This will work according to Trade ModeSep 12, 2022Release NotesUpdate Notes:Default Variable UpdatedStop Hour : 14Stop Loss Point : 10Target Point : 500Sep 13, 2022Release NotesTarget & Stop Loss UpdatePreviously I was calculating target and stop loss from High and Low of entry bar. But after some recommendation from you guys, Now It's calculating from entry price.Sep 16, 2022Release NotesTrade OptimizedDetect Strong RangeNow validating strong movement with the help of opening candle size. By default I'm saying if opening candle length is greater than 0.4 % then consider it as a strong move. You can change is from "Open Range %" Input field.Trade Gap: New Input FieldNow I'm checking if market giving you more than 100 point profit then change stop loss to entry_price + Trade Gap/4. Means if market move 100 point and again market reverse then at least you can book 25 point profit.Sep 21, 2022Release NotesProfit Booking UpdateMin Profit Point After Trade Gap : New Input FieldNow you can book profit on specific point, when market move more than "Trade Gap" Point. Suppose market move more than 100 point in profit and market reverse then you can book at least 50 point profit. This is default. But now you can change it from input tab.Nov 9, 2022Release NotesAlert Added:For fully automatic alert select "Order fills only" and in message box paste this : {{strategy.order.alert_message}}And you can change message from input tabLong : Message for long trade.Short : Message for short trade.Long Exit : Message for Long exit.Short Exit : Message for Short exit.