OPEN-SOURCE SCRIPT
IU Break of any session Strategy
Updated
How this script works:
1. This script is an intraday trading strategy script which buy and sell on the bases of user-defined intraday session range breakout and gives alert(if the alert is set) message too when the new position is open.
2. It calculate the session as per the user inputs or user defined custom session.
3. The script stores the highest and lowest value of the whole session.
4. It take a long position on the first break and close above the highest value.
5. It take a short position on the break and close below the lowest value.
6. The script takes one position in one day.
7. The stop loss for this script is the previous low(if long) or high(if short).
8. Take profit is 1:2 and it's adjustable.
9. This script work on every kind of market.
How The Useful For The User :
1. User can backtest any session range breakout he wants to trade.
2. User can get alert when the new position is open.
3. User can change the Risk to Reward in order to find the best Risk to Reward.
4. User can see the highest and lowest value of the session with respect to analyzing his trading objective.
5. This strategy script highlights which session range breakout performs best and which performs worst.
1. This script is an intraday trading strategy script which buy and sell on the bases of user-defined intraday session range breakout and gives alert(if the alert is set) message too when the new position is open.
2. It calculate the session as per the user inputs or user defined custom session.
3. The script stores the highest and lowest value of the whole session.
4. It take a long position on the first break and close above the highest value.
5. It take a short position on the break and close below the lowest value.
6. The script takes one position in one day.
7. The stop loss for this script is the previous low(if long) or high(if short).
8. Take profit is 1:2 and it's adjustable.
9. This script work on every kind of market.
How The Useful For The User :
1. User can backtest any session range breakout he wants to trade.
2. User can get alert when the new position is open.
3. User can change the Risk to Reward in order to find the best Risk to Reward.
4. User can see the highest and lowest value of the session with respect to analyzing his trading objective.
5. This strategy script highlights which session range breakout performs best and which performs worst.
Release Notes
How this script works:1. This script is an intraday trading strategy script which buy and sell on the bases of user-defined intraday session range breakout and gives alert(if the alert is set) message too when the new position is open.
2. It calculate the session as per the user inputs or user defined custom session.
3. The script stores the highest and lowest value of the whole session.
4. It take a long position on the first break and close above the highest value.
5. It take a short position on the break and close below the lowest value.
6. The script takes one position in one day.
7. The stop loss for this script is the previous low(if long) or high(if short).
8. Take profit is 1:2 and it's adjustable.
9. This script work on every kind of market.
How The Useful For The User :
1. User can backtest any session range breakout he wants to trade.
2. User can get alert when the new position is open.
3. User can change the Risk to Reward in order to find the best Risk to Reward.
4. User can see the highest and lowest value of the session with respect to analyzing his trading objective.
5. This strategy script highlights which session range breakout performs best and which performs worst.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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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.