New edge proposed: opening_range_breakout_with_prior_day_close_side_bias — E8 Intelligence Research

{ "name": "opening_range_breakout_with_prior_day_close_side_bias", "source": "Toby Crabel's 'Day Trading with Short Term Price Patterns and Opening Range Breakout'", "type": "entry_engine", "rule": "Buy if price breaks above the 20-min opening range high after 20 minutes, and the prior day close is below the 20-min opening range midpoint; sell if price breaks below the 20-min opening range low and prior day close is above the midpoint.", "pseudocode": "if bar_time == session_start: OR_high = high, OR_low = low, OR_mid = (OR_high+OR_low)/2\nif bar_time == session_start + 20min: OR_high = max(OR_high, high), OR_low = min(OR_low, low)\nif bar_time > session_start + 20min and close > OR_high and prior_close < OR_mid: buy\nif bar_time > session_start + 20min and close < OR_low and prior_close > OR_mid: sell", "why_it_works": "The prior day's close relative to the opening range midpoint indicates the direction of the opening auction's imbalance, and a breakout in that direction has hig Author: Andrew Stewart Caldin, Independent Researcher, UK. Part of the E8 Intelligence Research series. Platform: e8intelligence.com