New edge proposed: opening_range_breakout_with_prior_day_extreme_zone_filter — E8 Intelligence Research

{ "name": "opening_range_breakout_with_prior_day_extreme_zone_filter", "source": "Al Brooks / Toby Crabel", "type": "entry_engine", "rule": "Enter long on a close above the opening range high (first 15 minutes) only if the opening range is entirely below the prior day's high and the prior day's low is below the prior day's close, with a stop at the opening range low and a target equal to 1.5 times the opening range range.", "pseudocode": "if bar_index == 15th bar_of_session: OR_high = highest(high, 15); OR_low = lowest(low, 15); if OR_high < prior_day_high and prior_day_low < prior_day_close: bias = long; if close > OR_high and bias: enter long at close; stop = OR_low; target = close + 1.5 * (OR_high - OR_low);", "why_it_works": "It exploits the tendency for breakouts from a narrow, non-overlapping opening range to follow the prior day's directional momentum while avoiding false breakouts into prior-day resistance." } Author: Andrew Stewart Caldin, Independent Researcher, UK. Part of the E8 Intelligence Research series. Platform: e8intelligence.com