fxcodebase-backup
Opening Candle Range Strategy
Source: https://fxcodebase.com/code/viewtopic.php?f=31&t=75978
Forum: 31 · Topic 75978 · 1 post(s)
Opening Candle Range Strategy
Apprentice · Tue May 27, 2025 1:31 pm
Based on the indicator. https://fxcodebase.com/code/viewtopic.php?f=17&t=75958
Entry Rules
- Entry is triggered when the price crosses outside the predefined range from the opening candle (set by time and timeframe parameters).
- For long trades: the price must break above the range high.
- For short trades: the price must break below the range low.
- Optional filters:
- BigCandle: Entry only if the current candle is larger than a multiple of the previous candle.
- Second Cross Only: Entry only on the second breakout attempt.
Exit Rules
- Exits occur when price returns inside the range:
- For long trades: exit if the price closes below the range low.
- For short trades: exit if the price closes above the range high.
- The range used for exit depends on the ExitType parameter: “Initial Range” or “Shifted Range”.