Daily Open Range Breakout

This strategy is built around the concept of a Daily Opening Range, a powerful framework used by institutional and intraday traders to identify key breakout levels. The bot defines a specific time window each day to calculate a price range, then enters trades when price breaks out of this range, confirming momentum.

How It Works:
Opening Range Definition:

Starts at a user-defined hour (default: 21:00)

Lasts for a user-defined duration in minutes (default: 1440, i.e., full day)

During this time, the highest high and lowest low form the opening range

Breakout Logic:

Long Entry: When the current price breaks above the range high

Short Entry: When the current price breaks below the range low

If already in a position, it will flip sides upon breakout in the opposite direction

 Strategy Features:

Dynamic Daily Reset: Each new day resets the range values, ensuring fresh breakout levels for each session.  Position Flip Capability: Automatically closes current positions if the opposite breakout occurs — especially useful in volatile markets.  Next-Day Exit Rule: If a trade is still open on the following day and it's profitable, the bot exits the position, locking in gains.  Pyramiding Allowed: Up to 5 concurrent positions can be opened for scaling during strong trends.  Visual Guidance:  Range High plotted in green  Range Low plotted in red Easy visual tracking of current breakout thresholds.  

Suggested Timeframes:

Designed to operate best on 15-minute, 30-minute, or 1-hour charts, depending on how you configure the rangeLength. Works well for crypto, forex, and high-volume stocks.  

Final Notes:

Open Range Breakout strategies are widely used for good reason — they combine structure with momentum. However, performance may vary depending on the asset’s volatility and your defined range window. Testing and fine-tuning are essential.  Note: Different assets may require specific parameter adjustments. Users are responsible for optimizing the strategy settings for the asset they trade. Please ensure you fine-tune the parameters according to your trading pair.