Opening Range Breakout LE (Strategy)
DisclaimerInput Information
| Name | Type | Default | Description |
| OpeningRangeDuration_Hours | Numeric | 1 | Enter the hours portion of the time duration of the opening range period. |
| OpeningRangeDuration_Minutes | Numeric | 0 | Enter the minutes portion of the time duration of the opening range period. |
| OpeningRangeDuration_Seconds | Numeric | 0 | Enter the seconds portion of the time duration of the opening range period. |
| RegSessionOrAll_1_or_0 | Numeric | 1 | Enter 1 to trade based on the opening range of the regular session only, or enter 0 to use every session. |
| MaxEntriesPerSession | Numeric | 1 | Enter the maximum number of entries the strategy may make in a session. |
| PriceOffsetAboveRangeHigh | Numeric | 0 | Enter the price amount above the high of the opening range at which a bar must close to trigger an entry. |
Usage
Long entry based on a price breakout above the high of the opening range (plus an offset amount, above the high of the range, if desired).
See additional comments in the EasyLanguage code for this strategy. The EasyLanguage code can be opened in the TradeStation Development Environment (TDE).
Description
When, after the end of the opening range period (by default, one hour after the market open), a bar closes above the high of the opening range period, a long entry order is generated for the next bar's open. Inputs are available (see above) so that you can customize the duration of the opening range period.
Order Name: OpRgeLE
Related Strategy: Opening Range Breakout SE
Related Indicator: Opening Range