Hello,
I have been trying to create an Opening Range Breakout Strategy but I’m facing few problems.
The snapshot attached are my entry conditions.
I am facing difficulty when I backtest it. The strategy should only work when the opening range is first broken satisfying all the conditions.
It should not be working if the range is breaking again and again on the same day.
For example- If the opening range is less than 1.5% (which satisfies the first condition), then the range is broken by 2nd candle but the RSI conditions have not been satisfied, so the entry should not be taken.
But after two to three candles again the range is broken satisfying the RSI conditions, in this situation my attached strategy takes the entry which I do not want. If the range is broken and conditions are not satisfied it should not take any entry that day.
It does not have to be a second candle, any candle after the first can work. But if the breakout happens without rsi conditions not satisfied then it should not enter again if the breakout happens again.
So from what you have mentioned, you want a breakout only if in the first instance all your condition is met. If the partial condition is met first, you do not want a notification even if all your condition is met in the second instance.
This cannot be created as a condition. But if you deploy the strategy live with the Strategy cycle as 1, you can achieve this. Because in Streak, you only get a notification when all your condition s are fulfilled.
