Open Range Breakout Trading System
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Sample AFL Code - Open Range Breakout Trading System
Opening Range is very often a measure of security high and low generally monitored by breakout traders to gauge the sentiment of the market. The very often first 15-minute high – low range made by the stock/index is used as a reference by many traders to monitor for breakout trading. A Simple Open Range Breakout Trading system is primarily useful for intraday traders who is looking for a price breakout from the opening range. Typically traders very often use a 15min / 30min opening range to monitor breakout with pre-defined stops/targets. Features of Opening Range Breakout 1)Multiple ORB Breakout Selection of the Traders Choice 2)Limit the Number of Entry Signals per day 3)Intraday Trading System with signal starttime, endtime and squareofftime controls 4)Mode of Trading: i) No Stoploss/Target mode, ii)Fixed Point Stoploss/Target , iii)Fixed Percentage Stoploss/Target mode. 5)Backtesting Capabilities 6)Exploration/Scanner Capabilities 6)Trading Dashboard that tracks the Signals and Profit/Loss
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