The Open Range Breakout Strategy became popular in the 1980s. The book "Day Trading With Short Term Price Patterns and Opening Range Breakout "of the trader Toby Crabel is probably the best known about this strategy.
It is a fairly straightforward approach to trading that is popular with both professionals and beginners. In the pre-market opening phase, one or more stop entries are placed in the market. These will then traded on the market opening breakout.
With the ORB Expert Advisor we have programmed a fully automatic system for DAX CFD trading. This EA uses MetaTrader 4 as a platform. On the website of Youtube are some videos about the EA already published. Automated trading with the MT5 platform will be available shortly.
In the picture below, the open range from 8:01 am to 9:00 am is shown in green. Here the outbreak is at 9:00 a.m.
Good to see when the DAX Performance Index starts cash. The Dax then oscillates around the outbreak area for about 45 minutes,
but then breaks out sharply downwards. If you have a profit target with a CRV of 2: 1 or a trailing stop
had started, you would have been rewarded with a good profit that day.
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