New edge proposed: opening_range_breakout_retest_internal_structure — E8 Intelligence Research

{ "name": "opening_range_breakout_retest_internal_structure", "source": "Al Brooks / Market Profile (opening range breakout with retest of breakout point)", "type": "entry_engine", "rule": "After the first 30 minutes (OR), if price breaks beyond the OR high/low by at least 0.25 ATR and then returns to within 0.1 ATR of the OR boundary (retest), enter in the breakout direction with a stop beyond the opposite side of the retest range and a target of 1.5 ATR from entry.", "pseudocode": "OR = high/low of first 30 min bars; if close > OR_high + 0.25*ATR (or close < OR_low - 0.25*ATR) then mark breakout; if subsequent bar's low <= OR_high + 0.1*ATR (or high >= OR_low - 0.1*ATR) and then next bar closes back beyond that level, enter at next open; stop = OR_high - 0.2*ATR (or OR_low + 0.2*ATR); target = entry + 1.5*ATR (or minus); exit if opposite signal or end of day.", "why_it_works": "Breakouts that immediately retest the breakout level create a low-risk entry point because the retest Author: Andrew Stewart Caldin, Independent Researcher, UK. Part of the E8 Intelligence Research series. Platform: e8intelligence.com