OPENING RANGE BREAKOUT TRADING SYSTEM

indicators used

-----------------

1. supertrend indicator

(settings 10-3)

2. Auto Sessions v 1.8

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Buy rule :

-----------

Wait for 8 AM -12 NOON(BROKER TIME)

(5 CANDLES each 1 HR TIME FRAME)

Mark Candle high of 5 bars

Mark Candle low  of 5 bars

If candle high breaks check

supertrend, it must be positive

to enter a buy position

or

wait for supertrend to change as

positive and enter a buy position

keep positions till stoploss

hit 

or

target hit

or

supertrend reversal

or

broker time 21:00

which one comes earlier, will be exit

point for the buy positions

========================================

Sell Rule :

===========

Wait for 8 AM -12 NOON(BROKER TIME)

(5 CANDLES each 1 HR TIME FRAME)

If candle low breaks check

supertrend, it must be negative

to enter sell

or

wait for supertrend to change

negative 

keep positions till stoploss

hit 

or

target hit

or

supertrend reversal

or

broker time 21:00

which one comes earlier, will be exit

point for the sell positions

=========================================

input values in expert advisor as follows :

-------------------------------------------

enter input qty :0.10 lot

enter sl pip     : 50 pip (it is by default ) stoploss concept explained already in notepad text file

enter target pip : 30 pip ( by default ) target method also explained in notepad text file

enter magic number :  ( for placing same or difference currencies in various time frames)

enter comment line :

enable money management  : true/false (if it is true, based on equity orders to be placed, if it is false take same input qty)

calculation start time   : 08: 00 (broker time )

calculation end time     : 12:00 (broker time )

trade start time         : 13:00 (broker time )

trade end time           : 21:00 (broker time ) ...*********** all open positions, whether hit profit/stoploss/pending orders if any, everything to be closed at 21:00

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every new day , new trades will be available, no carry, all open positions started for trading

must be closed on same day

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every day maximum one buy and maximum one sell allowed.

if buy stoploss hit, then no re entry for buy 

similarly 

if sell stoploss hit, then no re entry in sell

maximum trades per day : 2