New edge proposed: toby_crabel_opening_range_reversal — E8 Intelligence Research

{ "name": "toby_crabel_opening_range_reversal", "source": "Toby Crabel, Day Trading with Short Term Price Patterns and Opening Range Breakout", "type": "entry_engine", "rule": "If the first 5-minute bar after the session open is an outside bar (high > prior bar high and low < prior bar low) and the close is in the bottom 30% of its range, enter short at next bar open; stop above the outside bar high; target 2x ATR(14) of 5-minute bars.", "pseudocode": "if bar_time == first_5min_after_session_open and is_outside_bar(bar) and close <= low + 0.3*(high-low) then\n entry_signal = short_at_next_bar_open\n stop = high_of_outside_bar\n target = entry - 2*ATR14\n if bar_time == first_5min_after_session_open and is_outside_bar(bar) and close >= high - 0.3*(high-low) then\n entry_signal = long_at_next_bar_open\n stop = low_of_outside_bar\n target = entry + 2*ATR14\n endif\nendif", "why_it_works": "Opening range outside bars reflect two-way conflict and Cr Author: Andrew Stewart Caldin, Independent Researcher, UK. Part of the E8 Intelligence Research series. Platform: e8intelligence.com