Session Breakout Strategy [Kintsugi Trading]

2022년 4월 23일

What is Session Breakout Strategy?

This premium indicator was inspired by my desire to find and place high probability forex trades in any market, direction, or time of day.

Why Forex?

• The Forex markets operate 24 hours, 5.5 days a week
  
• Access to meaningful leverage
  
• Ability to easily trade long or short
  
• High liquidity
  

How to use it!

----- First, start by choosing a Range Session and Trade Session. -----

- Range Session = Period of time you believe will be predictive of future price action. I like to overlay 'FX Market Sessions' by boitoki to target timeframes in which forex market sessions overlap. This period is indicative of buyers and sellers battling it out in an effort to choose a direction.
- Trade Session = Period of time you believe the price will act on the information gathered from the range session.




----- Next, we filter the Range Session by information that will help further predict price movement in the Trade Session. -----
Our tools are:

• Moving Average Filter
  
• Average RSI Filter
  
• RSI Decision Level
  
• None
  

Each parameter is customizable.



----- Next, we set our risk. -----

• Enter the "stop pip size' you desire.
  
• Enter the 'target profit pip size' you desire.
  
• We can set out ($) dollar risk-per-trade in the inputs. The script does not know your actual account balance, so if you want to risk $100/trade you would enter '$10,000' in the account balance section and '1' in the Risk Per Trade% section.
  

For example, an '8' stop and an '8' tp would indicate a 1:1 risk-reward. *Note - although you may generate a higher win percent with a less favorable RR, it is rarely worth it.



----- Finally, we backtest our ideas. -----

After using the 'Strategy Tester' tab to thoroughly backtest your predictions you are ready to take it to the next level - Automated Trading!
This was my whole reason for creating the script. If you work a full-time job, live in a time zone that is hard to trade, or just don't have the patience, this will be a game-changer for you as it was for me.

Auto-Trading

When it comes to auto-trading this strategy I have included two options in the script that utilize the alert messages generated by TradingView.
*Note: Please trade on a demo account until you feel comfortable enough to use real money, and then please stick to 1%-2% of your total account value in risk per trade.*

• AutoView
  
• PineConnector
  

Good luck with your trading!

2022년 4월 28일

릴리즈 노트

I wanted to add the following tags
- "kintsugi"
- "trading"
- "kintsugitrading"
- "pineconnector"
- "autoview"
- "movingaveragecloud"
- "sessionbreakout"
-"rsibreakout"
-"forex"

Also, I had to change the name slightly so I could republish it with the tags. Nothing else is different.

2022년 4월 29일

릴리즈 노트

Just want to add tags. Changed the name slightly to be able to do so. Thank you!

2022년 4월 29일

릴리즈 노트

Just wanted to add tags. Nothing has changed in the script other than the name to allow for publishing. Thank you!

2022년 5월 22일

릴리즈 노트

**NEW ATR Auto-Trading Alert Setup**

How to create alerts:

For Trailing Stops:
1) Adjust autoview/pineconnector settings
2) Click "add alert"
3) Select "Condition" = Strategy Name
4) Select "Order Fills Only" from the drop-down
3) Remove template message text from "message" box and place the exact text. {{strategy.order.alert_message}}
4) Click "create"


For Fixed Pip Stop:
1) Adjust autoview/pineconnector settings
2) Click "add alert"
3) Select "Condition" = Strategy Name
4) Select "alert() function calls only"
5) I like to title my Alert Name the same thing I named it as an Indicator Template to keep track