breakout concept trading:
opening range breakout time : 5 pm
closing range breakout time : 6 pm
trades closing time : 11.15 pm
(timings are user defined settings )
calculate highest high ( 5 pm to 6 pm )
calculate lowest low ( 5 pm to 6 pm )
between the above timings
buy entry:
a price candle must close above highest high
of the particular time
take a buy above high value of that candle
buy confirmation can be done only when
the following indicators confirm:
rsi (14) periods 50 --- 5 min time frame trend up
rsi (14) periods 50 --- 60 min time frame trend up
cci periods above 100
supertrend (7-3) trend in 5 min as positive
sell entry :
a price candle must close below lowest low
of the particular time frame
take a sell below low value of that candle
which closes below the range breakout
confirm sell, when the following indicators
all equally give sell
rsi (14) periods 50 --- 5 min time frame trend down
rsi (14) periods 50 --- 60 min time frame trend down
cci periods below -100
supertrend (7-3) trend in 5 min as negative
trades all to be closed by 11.15 pm
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opening range breakout time : 5 pm
closing range breakout time : 6 pm
trades closing time : 11.15 pm
(timings are user defined settings )
calculate highest high ( 5 pm to 6 pm )
calculate lowest low ( 5 pm to 6 pm )
between the above timings
buy entry:
a price candle must close above highest high
of the particular time
take a buy above high value of that candle
buy confirmation can be done only when
the following indicators confirm:
rsi (14) periods 50 --- 5 min time frame trend up
rsi (14) periods 50 --- 60 min time frame trend up
cci periods above 100
supertrend (7-3) trend in 5 min as positive
sell entry :
a price candle must close below lowest low
of the particular time frame
take a sell below low value of that candle
which closes below the range breakout
confirm sell, when the following indicators
all equally give sell
rsi (14) periods 50 --- 5 min time frame trend down
rsi (14) periods 50 --- 60 min time frame trend down
cci periods below -100
supertrend (7-3) trend in 5 min as negative
trades all to be closed by 11.15 pm
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