Embarrassed breakout strategy

• 11/07/2022 at 4:09 PM #203765
  abacus23

  Just spent most of the day and I’m embarrassed, I’ve been renovating my house for the last few years, come back for a bit of relief, but I can’t seem to programme anything.

  This is really simple.

  For a buy, on next candle open. 9am.

  Between 8am-9am, the candle body, must close in-between previous periods (7am-8am) high and low.

  Price above EMA9.

  RSI over 50.

  No trades, if conditions not met.

  Stop: ATR +15, if ATR under 20,

  Stop: ATR+30, if ATR over 20

  Target: ATR of period between 7am-8am.

  For a sell, on next candle open, 9am.

  Between 8am-9am, the candle body, must close in-between previous periods (7am-8am) high and low.

  Price below EMA9.

  RSI under 50.

  No trades, if this doesn’t happen.

  Stop: ATR +15, if ATR under 20,

  Stop: ATR+30, if ATR over 20

  Target: ATR of period between 7am-8am.

  Thanks in advance.

  

  abacus23

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  11/08/2022 at 6:16 AM #203786
  JS

  Hi @abacus23

  Try this… may be renovated 😉

   

  Embarrassed BreakOut System

  TimeFrame(Hourly, UpdateOnClose) EMA9 = Average[9,1](Close) xRSI = RSI[14](Close) xATR = AverageTrueRange[14](Close) If OpenTime = 080000 and Close < High[1] and Close > Low[1] and Close > EMA9 and xRSI > 50 then Buy 1 Contract at Market If xATR < 20 then Set Stop Loss (xATR + 15) * PipSize Else Set Stop Loss (xATR + 30) * PipSize EndIf Set Target Profit xATR[1] * PipSize EndIf If OpenTime = 080000 and Close < High[1] and Close > Low[1] and Close < EMA9 and xRSI < 50 then SellShort 1 Contract at Market If xATR < 20 then Set Stop Loss (xATR + 15) * PipSize Else Set Stop Loss (xATR + 30) * PipSize EndIf Set Target Profit xATR[1] * PipSize EndIf

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  TimeFrame(Hourly, UpdateOnClose) EMA9 = Average[9,1](Close) xRSI = RSI[14](Close) xATR = AverageTrueRange[14](Close)   If OpenTime = 080000 and Close < High[1] and Close > Low[1] and Close > EMA9 and xRSI > 50 then Buy 1 Contract at Market If xATR < 20 then Set Stop Loss (xATR + 15) * PipSize Else Set Stop Loss (xATR + 30) * PipSize EndIf Set Target Profit xATR[1] * PipSize EndIf   If OpenTime = 080000 and Close < High[1] and Close > Low[1] and Close < EMA9 and xRSI < 50 then SellShort 1 Contract at Market If xATR < 20 then Set Stop Loss (xATR + 15) * PipSize Else Set Stop Loss (xATR + 30) * PipSize EndIf Set Target Profit xATR[1] * PipSize EndIf

  2 users thanked author for this post.

  abacus23, Midlanddave

  

  JS

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  11/08/2022 at 1:28 PM #203794
  abacus23

  Many thanks.

  I’ll give that a try.

  

  abacus23

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  Replies: 33

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