OPEN-SOURCE SCRIPT
WTI Futures Break-Out Strategy
This Channel indicator is designed for 5 min time frame.
Pre-market high and low is defined per trading day between 9:00 AM to 9:30 AM EST.
How it works:
At 9:00 and 9:30 mark lines on Low and Hi levels.
Wait until a candle is closed above or below Low and Hi levels.
- Break-out high = long trade
- Break-out low = short trade
For additional confirmation, use either MACD or Stochastic RSI indicators.
Pre-market high and low is defined per trading day between 9:00 AM to 9:30 AM EST.
How it works:
At 9:00 and 9:30 mark lines on Low and Hi levels.
Wait until a candle is closed above or below Low and Hi levels.
- Break-out high = long trade
- Break-out low = short trade
For additional confirmation, use either MACD or Stochastic RSI indicators.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.