Breakout Strategy in PineScript

Job ID: 39606705

Budget: $10 – $30 USD

I'm looking for an experienced PineScript developer to create a breakout trading strategy for the Forex market. The strategy will be executed on a 15-minute timeframe and should be designed to identify and capitalize on breakout opportunities.

Strategy Logic:
Opening Range (OR)
Opening Range is defined from 9:30 AM to 9:45 AM ET

After this period, we look for breakouts and retests

Entry Conditions:
Long Setup:

Candle closes above the Opening Range High

Price retests the OR High

Volume is above 1.2x the 20-period average

A bullish engulfing candle confirms the retest

Must pass filters (see below)

Short Setup:

Candle closes below the Opening Range Low

Price retests the OR Low

Volume is above 1.2x the 20-period average

A bearish engulfing candle confirms the retest

Must pass filters (see below)

Filters:
EMA(50) Filter:

Long trades only if price is above EMA50

Short trades only if price is below EMA50

ATR Filter:

ATR(14) must be above a configurable threshold (default = 5)

Risk Management:
Contract Size: Default = 1 MNQ contract (should be configurable)

Stop Loss (choose between):

Fixed SL = 10 points (default)

OR-based SL = Stop below OR Low (for long), above OR High (for short)

Take Profit (TP):

Default = 20 points (2:1 R:R)

Can be dynamic based on OR-based stop

Trailing Stop:

Trail by 1.5 points once in profit (configurable)

Break-even Logic:

Once price moves 10 points in favor, move SL to entry price.