Opening Range Breakout Strategy for NinjaTrader8
Budget: €250 – €750 EUR
This is a Opening Range Breakout Strategy based on breakouts and swings.
Behavior: Everything is based on the opening range. On it, there come 8 possible setups / trades, at a maximum 6 per day, but mostly just 2 or 3. Enter with a stop order when the price breaks the range. Once the first Stop Loss (SL) is hit, reverse the trade, which starts the Fake-out-Trade. Then reverse possibly again on the next swing break, which starts the Swing-Break-Reverse-Trade, depending on whether several criteria are. All trades have a minimum distance and maximum risk criteria, either based opon the percentage of the opening range size or upon the number of ticks, in order to be valid entries. Some trades disable other trades, and most can only occure after a specific other trade. It should be possible to elige to activate only one or more random trades in this sequence. Each entry is trailed on confirmed mini-trend swings, and is first trailed when the price leaves the opposite side of the range. A confirmed swing is when the current high value is > than the last high swing in a series of high, low, higher high, higher low. (high, low, lower high would not confirm the last low as swing point! the stop would have to stay one low before in the series of highs and lows).
You could use the zigzag indicator that comes with the platform, but it needs a modification though. Currently it can't draw a swing high and low on the same candle if the candle establishes a new high and new low swing at the same time.
Here are all settings:
General
- Opening Range Time start and stop
- Order quantity
- Min. and max. range size limit for doing any trades today.
- Min. and max. opening volume (Vol of first minute) for doing any trades today
- Swing deviation size in ticks (zigzag indicator)
- Trailing SL offset behind confirmed swing point (var03)
- Switch trail on primary swing or secondary swing with the same offset
- Distance to range at which all other trade entries get disabled (var13)
- Switch Distance to range for disabling all trades by percentage of range size or number of ticks
B-Trade
- Activate / Deactivate B-Trade
- Entry stop order offset in ticks (var01)
- Initial SL offset (var02)
- Switch inital SL offset as percentage of range size or number of ticks
- Min. distance for pulling the SL inside range on breakout side (var04)
- Switch min. distance for pulling SL inside range on breakout side (var04) as percentage of range
size or number of ticks
FO-Trade
- Activate / Deactivate FO-Trade
- SL offset (var06)
- Max. SL risk to be valid (var07)
- Switch max. SL risk in relation to range size or number of ticks
2ndFO-Trade
- Activate / Deactivate 2ndFO-Trade
- SL offset (var06)
- Max. SL risk to be valid (var08)
- Switch max. SL risk in relation to range size or number of ticks
RRER-Trade
- Activate / Deactivate RRER-Trade
- Min. distance to range to be valid entry, in percentage of range (var04)
- SL offset (var06)
C-Trade
- Order quantity
- Activate / Deactivate C-Trade
- Entry offset ticks (var14)
- SL offset ticks (var15)
- Activate / deactivate entries on FO-Trades
- Activate / deactivate entries on RRER-Trades
- Activate / deactivate entries on B-Trades
SBR-Trade, 2ndSBR-Trade, 3rdSBR-Trade
- Activate / Deactivate SBR-Trade
- Activate / Deactivate 2ndSBR-Trade
- Activate / Deactivate 3rdSBR-Trade
- SBR-Trade after [ ] all, [ ] after B-Trade, [ ] after FO-Trade and RRER-Trade, [ ] after 2ndFO-Trade. (Includes that 2ndSBR-Trade and 3rdSBR-Trade can first come after SBR-Trade)
- SL offset (var09)
- Switch enter on unconfirmed swings or only on confirmed swings
- SL pullup offset (var10)
- Max. distance to range's breakout side be valid (var12)
- Switch max. distance by percentage of range size or number of ticks
- Max. risk to be valid (var11)
- Switch max. risk by percentage of range size or by number of ticks
Would accept payment pH. How many hours do you think, it takes?
Sebastian
Behavior: Everything is based on the opening range. On it, there come 8 possible setups / trades, at a maximum 6 per day, but mostly just 2 or 3. Enter with a stop order when the price breaks the range. Once the first Stop Loss (SL) is hit, reverse the trade, which starts the Fake-out-Trade. Then reverse possibly again on the next swing break, which starts the Swing-Break-Reverse-Trade, depending on whether several criteria are. All trades have a minimum distance and maximum risk criteria, either based opon the percentage of the opening range size or upon the number of ticks, in order to be valid entries. Some trades disable other trades, and most can only occure after a specific other trade. It should be possible to elige to activate only one or more random trades in this sequence. Each entry is trailed on confirmed mini-trend swings, and is first trailed when the price leaves the opposite side of the range. A confirmed swing is when the current high value is > than the last high swing in a series of high, low, higher high, higher low. (high, low, lower high would not confirm the last low as swing point! the stop would have to stay one low before in the series of highs and lows).
You could use the zigzag indicator that comes with the platform, but it needs a modification though. Currently it can't draw a swing high and low on the same candle if the candle establishes a new high and new low swing at the same time.
Here are all settings:
General
- Opening Range Time start and stop
- Order quantity
- Min. and max. range size limit for doing any trades today.
- Min. and max. opening volume (Vol of first minute) for doing any trades today
- Swing deviation size in ticks (zigzag indicator)
- Trailing SL offset behind confirmed swing point (var03)
- Switch trail on primary swing or secondary swing with the same offset
- Distance to range at which all other trade entries get disabled (var13)
- Switch Distance to range for disabling all trades by percentage of range size or number of ticks
B-Trade
- Activate / Deactivate B-Trade
- Entry stop order offset in ticks (var01)
- Initial SL offset (var02)
- Switch inital SL offset as percentage of range size or number of ticks
- Min. distance for pulling the SL inside range on breakout side (var04)
- Switch min. distance for pulling SL inside range on breakout side (var04) as percentage of range
size or number of ticks
FO-Trade
- Activate / Deactivate FO-Trade
- SL offset (var06)
- Max. SL risk to be valid (var07)
- Switch max. SL risk in relation to range size or number of ticks
2ndFO-Trade
- Activate / Deactivate 2ndFO-Trade
- SL offset (var06)
- Max. SL risk to be valid (var08)
- Switch max. SL risk in relation to range size or number of ticks
RRER-Trade
- Activate / Deactivate RRER-Trade
- Min. distance to range to be valid entry, in percentage of range (var04)
- SL offset (var06)
C-Trade
- Order quantity
- Activate / Deactivate C-Trade
- Entry offset ticks (var14)
- SL offset ticks (var15)
- Activate / deactivate entries on FO-Trades
- Activate / deactivate entries on RRER-Trades
- Activate / deactivate entries on B-Trades
SBR-Trade, 2ndSBR-Trade, 3rdSBR-Trade
- Activate / Deactivate SBR-Trade
- Activate / Deactivate 2ndSBR-Trade
- Activate / Deactivate 3rdSBR-Trade
- SBR-Trade after [ ] all, [ ] after B-Trade, [ ] after FO-Trade and RRER-Trade, [ ] after 2ndFO-Trade. (Includes that 2ndSBR-Trade and 3rdSBR-Trade can first come after SBR-Trade)
- SL offset (var09)
- Switch enter on unconfirmed swings or only on confirmed swings
- SL pullup offset (var10)
- Max. distance to range's breakout side be valid (var12)
- Switch max. distance by percentage of range size or number of ticks
- Max. risk to be valid (var11)
- Switch max. risk by percentage of range size or by number of ticks
Would accept payment pH. How many hours do you think, it takes?
Sebastian