custom session breakout strategy, it uses a percentage of daily atr to set breakout limits. strategy only viable for intraday timeframes and is suggested under 1hour.
Release Notes
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Fixed a issue when 1st bar on open closed beyond the buy/sell lines and didnt trigger a trade.
Great work and appreciate the script.
Any updates ?
iDS7
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I also noticed this
It would seem the strategy itself is not reporting a few of the "breakeven" trades, which keeps the strategy seemingly profitable in itself. Would you mind explaining if I'm correct on this and if so how to avoid it? I feel like this might be producing a bit of false numbers but am not sure.
gyazo.com/3b0f5bc04dee2868b4b8daf7b67c9262
RicardoSantos
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@Maustula, its possible im currently not tracking this, but may be something due to tradingview's engine.
Ricardo, is there any way you could modify this code so it works on the weekend for crypto?
sukhkaransinghdhaliwal
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Thank you
pchakafa
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How do i download it and apply it
iDS7
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Firstly, thanks for your work on this, Quite nice for sure.
I am playing around with this due to being a opening range breakout and volume profile trader.
I believe and think most people are having difficulty understanding the " Percent Range Breakout " and that this actually adjusts your high and low for the breakout itself.
My question after all of this is, how do I set the buys and sells when bars close above / below the opening breakout area of specified times, is this an option?
RicardoSantos
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@Maustula, percent range multiplier is a modifier for the daily atr range, set it to the percent of the daily atr you want to draw the breakout lines.
" how do I set the buys and sells when bars close above / below the opening breakout area of specified times, is this an option?"
its not.
E3V3A
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This look interesting, but TBH I don't understand what the indicators (small arrows and the colored fields) are actually showing. Can you explain a bit the theory for this indicator and how to use it? Any external links to similar ideas?
Any updates ?