New edge proposed: opening_range_breakout_fade_after_extreme_volume — E8 Intelligence Research

{ "name": "opening_range_breakout_fade_after_extreme_volume", "source": "Toby Crabel, 'Day Trading with Short Term Price Patterns and Opening Range Breakout'", "type": "entry_engine", "rule": "If the opening range (first 30 min) volume is greater than 3 standard deviations above its 20-day average, and price breaks the opening range low within first 3 hours, enter long with a stop at the opening range low minus 0.5 ATR and target at the opening range high.", "pseudocode": "for each bar i (if session and time after OR): if time == first bar of session: OR_high = high; OR_low = low; OR_volume = sum(volume of first 30 min); if time == 30 min: avg_vol_20 = mean(OR_volume of last 20 days); std_vol_20 = stddev(...) is_extreme = (OR_volume > avg_vol_20 + 3*std_vol_20) if is_extreme and time < 3h and low <= OR_low: enter long at min(open[i], OR_low) stop = OR_low - 0.5*ATR(14) target = OR_high exit at target or stop or end of session", "why_it_ Author: Andrew Stewart Caldin, Independent Researcher, UK. Part of the E8 Intelligence Research series. Platform: e8intelligence.com