ORB Momentum

No marketing fluff, just a tried and true mechanical strategy based on the Opening Range breakout, the most researched strategy in the market. 

ORB Momentum is an Opening Range Breakout Strategy that has been proven to run profitably on the live futures market for the past 2 years. It is modified to function natively on Metatrader 5 to take advantage of the available liquidity that is found in CFDs. The benefit of doing this is that E-mini S&P 500 futures act as one of the primary drivers of global equity price discovery, whereas S&P 500 CFDs have almost zero direct impact on the underlying stocks. This allows the strategy to be run by more individuals without causing as much of an edge decay for the strategy. 

ORB Momentum is different from other Opening Range Breakout Strategies as it doesn’t chase the initial breakout of the OR but waits for a retrace back into the OR to take the second breakout leg if momentum is confirmed. 

ORB Momentum does not take a trade every single day, it waits for conditions to be met so there may be weeks where no trades are taken. ATR derived filters are implemented to ensure trades are taken only when the environment has a higher likelihood of expanding out of the opening range.

Trades taken by ORB Momentum are executed as market orders instead of pending stop/limit orders. They have a singular take profit and stop loss. No Grid, Martingale or Balance Recovery strategies to fake results just for the strategy to fail in live markets.

ORB Momentum uses an exclusive Super Trend management strategy to adjust stops when criteria are met. 

ORB Momentum does not use an aggressive trail stop strategy or volume-based indicators so it does not exhibit variability in performance across different brokers that would have been expected of other breakout strategies. 

ORB Momentum can automatically adjust trading time (in inputs) to operate based on your own predetermined time zone with preset templates and potential for custom time zone inclusive of DST shift. This allows for accurate implementation of London and Asian session breakout that does not get affected by DST shift. 

Settings have been tested against curve fitting with 1/3 forward optimization and settings for each pair also show profitability across the other 2 instruments

Strategy tested for robustness based on traditional Monte Carlo simulation (randomizing trade order + randomly skipping trades with 1% probability)

This is not a get rich quick kind of EA. It rewards patience and there will be weeks and months where you will stay in drawdown. This is a perfect momentum based EA to incorporate as an addition to a portfolio of EAs for diversification.

Open to suggestions for updates and improvements.

Default settings are for the US500 1 min chart.

Settings for NAS100 and US30 can be found in comments. 

Contact me for set up instructions after purchase.

Fully supports Netting and Hedging accounts.