Intraday Range Breakout Code

Algos, strategies, code
1

Need code for range breakout.

Buy if price breaksout above the day’s high

Sell if price breaksout below the day’s low

2

the above condition is very simple in tradescript , use day candles and

Buy Script:

LAST > HIGH

Sell Script:

LAST < LOW
3

Most of the traded securities in capital market moves in a range for around 80% of time and trends higher or lower for 20% of the time. And when it breaks this range with high volume, a very good buying or selling opportunity is signalled. Check out the below link for Intraday Range breakout setup along with downloadable Excel sheet.

4

LAST>HIGH Does it really work? Why new High (the last price) is not regarded as High?

1 Like
5

Thanks AlgoGeek.
As an extension of this, I also want to club this with an AND to find out a Volume surge of 2X average volume for the day. Is that possible?

6

How can one get alert, whenever the breakout happens, any free tools available to get notified… on live intraday.

1 Like