FXC Opening Range Breakout Strategy V2.0

This is an extremely simple but effective strategy for NQ. It's perfect to manage Apex PA Accounts without losing them.

Important:

• It only trades on Monday, Tuesday, Wednesday and Friday and takes usually only 1 trade per trading day.
  
• It works on the 15min timeframe only.
  
• The settings are optimised already for NQ but feel free to change them.
  

How it works:
Every selected trading day it measures the range of the first 15min candle after the NYSE open. As soon as price closes above on the 15min timeframe, it will trade the breakout targeting a set risk to reward ratio. SL on the opposite side of the range. It will trail the SL after a set amount of points and uses a buffer of the set amount of points to trail it.


Settings:

• Risk Type: You can chose either between Fixed USD Amount or Fixed Contract Size. By default it's set to fixed contract size because the purpose of the strategy is to trade Apex accounts.
  
  
• Risk Amount in USD: If you select Fixed USD Amount in the Risk Type drop-down you need to select the USD amount that you want to risk per trade. By default it's set to 500 USD risk per trade.
  
  
• Number of Contracts: If you select Fixed Contract Size in the Risk Type drop-down you need to select the number of contracts that you want to risk per trade. By default it's set to 1 contract per trade.
  
  
• Stop Loss Buffer in Pips: This is simply the buffer in pips that is added to the SL for safety reasons. If you have it on 0, the SL will be at the exact price of the opposite side of the range. By default it's set to 0.2 pips.
  
  
• Take Profit Multiplier: This is simply the total SL size in pips multiplied by x.
  Example: If you put 2, you get a 1:2 Risk to Reward Ratio. By Default it's set to 3 because this gave the best results in backtests.
  
  
• Activate Trailing SL after points in profit: This setting is to determine after how many points in profit the trailing SL gets activated. By default it's set to 10 because this is what gave the best results in backtests.
  
  
• Trailing Buffer in points: This Setting determines the by how many points the SL trails. If it's set to 5 and price moves 6 points against you the SL hits in profit. It's set to 2 by default because this is what gave the best results in backtests.
  
  
• Opening Range Time : This is the time window in which the strategy measures the range which is the base for the trading the breakout later.
  
  
• Session Time: This is the time range in which the strategy will take trades if there's a breakout from the opening range. Open trades will not by closed automatically when this session end is reached. Open trades will still either be closed with TP or SL. Backtests have shown that 09:45 to 10:30 am EST gives the best results
  

Backtest Settings:
For the backtest the commissions ere set to 0.35 USD per mini contract which is the highest amount Tradeovate charges. Margin was not accounted for because typically on Apex accounts you can use way more contracts than you need for the extremely low max drawdown. Margin would be important on personal accounts but even there typically it's not an issue at all especially because this strategy runs on the 15min timeframe so it won't use a lot of contracts anyways.

If you want access to the strategy, simply send me a message on Tradingview or contact me on the live chat of my website or on IG. Links are in my Tradingview profile.