OPEN-SOURCE SCRIPT
Обновлено Prison Escape (BreakOut!)
Description:
This strategy is a momentum-based trading system designed for the NYSE Open. It utilizes price action geometry to define a high-probability "Volatility Box" and trades the breakout of that range during the most liquid hours of the day.
How it Works:
The script operates in three distinct phases to ensure it only trades when momentum is at its peak:
Range Definition (The Alphabet):
Starting at 08:30 AM CST, the script labels price swings with letters (A, B, C, D). It monitors these pivots to establish the "Initial Range" based on the highest and lowest points reached between the Start Letter and End Letter (default A-D).
The Momentum Trigger:
The strategy waits for price to close outside of this established range.
1 Breakout Mode: Enters on the first candle to close outside the box.
2 Breakouts Mode: Filters out "fakeouts" by requiring price to break out, return inside the range, and then break out a second time, exceeding the high/low of the first attempt.
Strict Time Discipline:
Entry Window: New trades can only be initiated between 08:30 AM and 10:30 AM CST.
Hard Exit: Any open positions are market-closed at 12:30 PM CST to avoid afternoon chop and "Theta decay" or reversal risks.
Key Features:
Zig Zag Filtering: Uses a depth setting to filter out minor noise and focus on significant structural pivots.
Dynamic Stop Loss: Choose between the Breakout Line, the Range Midline, or the opposite side of the range.
Visual Anchors: Clearly plots the A-D range, midlines, and vertical session markers for 08:30, 10:30, and 12:30.
Technical Instructions for Users:
Timeframe: Optimized for 1-minute to 5-minute charts. Higher timeframes may result in "late" exits at the 12:30 PM cutoff.
Symbol: Designed for Indices (NAS100, US30, SPX500) and high-volume Large Cap stocks.
Timezone: The script is hardcoded for America/Chicago (CST/CDT) to align with the NYSE open.
Pine Script Settings Guide:
Zig Zag Depth: Higher numbers = more significant swings; Lower = tighter ranges.
End Letter: Define how many pivots to wait for before locking the range (Default: D).
Breakout Mode: Choose "2 Breakouts" for a more conservative, "re-test" style entry.
Stop Loss Source: The Midline setting usually provides the best Risk/Reward balance.
This strategy is a momentum-based trading system designed for the NYSE Open. It utilizes price action geometry to define a high-probability "Volatility Box" and trades the breakout of that range during the most liquid hours of the day.
How it Works:
The script operates in three distinct phases to ensure it only trades when momentum is at its peak:
Range Definition (The Alphabet):
Starting at 08:30 AM CST, the script labels price swings with letters (A, B, C, D). It monitors these pivots to establish the "Initial Range" based on the highest and lowest points reached between the Start Letter and End Letter (default A-D).
The Momentum Trigger:
The strategy waits for price to close outside of this established range.
1 Breakout Mode: Enters on the first candle to close outside the box.
2 Breakouts Mode: Filters out "fakeouts" by requiring price to break out, return inside the range, and then break out a second time, exceeding the high/low of the first attempt.
Strict Time Discipline:
Entry Window: New trades can only be initiated between 08:30 AM and 10:30 AM CST.
Hard Exit: Any open positions are market-closed at 12:30 PM CST to avoid afternoon chop and "Theta decay" or reversal risks.
Key Features:
Zig Zag Filtering: Uses a depth setting to filter out minor noise and focus on significant structural pivots.
Dynamic Stop Loss: Choose between the Breakout Line, the Range Midline, or the opposite side of the range.
Visual Anchors: Clearly plots the A-D range, midlines, and vertical session markers for 08:30, 10:30, and 12:30.
Technical Instructions for Users:
Timeframe: Optimized for 1-minute to 5-minute charts. Higher timeframes may result in "late" exits at the 12:30 PM cutoff.
Symbol: Designed for Indices (NAS100, US30, SPX500) and high-volume Large Cap stocks.
Timezone: The script is hardcoded for America/Chicago (CST/CDT) to align with the NYSE open.
Pine Script Settings Guide:
Zig Zag Depth: Higher numbers = more significant swings; Lower = tighter ranges.
End Letter: Define how many pivots to wait for before locking the range (Default: D).
Breakout Mode: Choose "2 Breakouts" for a more conservative, "re-test" style entry.
Stop Loss Source: The Midline setting usually provides the best Risk/Reward balance.
Информация о релизе
Fixed Range PairsИнформация о релизе
Minor bug fixesСкрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.