Single Range Breakout

2024년 12월 26일

1. Range Identification:

The bot monitors price action between the user-defined start time (Range Start Time) and end time (Range End Time) to establish a trading range.
It identifies the highest high (Range High) and lowest low (Range Low) within this time period.

2.Breakout Entry:

After the range is defined (once the time passes the Range End Time), the bot places pending orders:
A buy stop order at the Range High.
A sell stop order at the Range Low.

3. Risk Management:

The bot allows users to configure stop loss (SL) and take profit (TP) levels:
Stop Loss: Defined as a fixed number of points (Stop Loss in Points) from the entry price.
Take Profit: Set as a multiple of the range size (Take Profit Factor).
If the Use Risk Management option is enabled:
The bot calculates the position size dynamically based on the percentage of the equity the user is willing to risk (Risk Percentage).
If disabled, the position size is fixed (Fixed Lot Size).

4. Order Closing:

The bot automatically closes all open positions at the user-defined Close Orders Time to prevent overnight risk.

5. Visualization:

The script plots the Range High and Range Low levels on the chart, providing a clear visual representation of the breakout boundaries.

6. Execution:

If the breakout is triggered (price moves above Range High or below Range Low), the bot enters a trade in the respective direction:
Buy order: SL is below the entry price, TP is above the entry.
Sell order: SL is above the entry price, TP is below the entry.