The strategy as the name suggest works on the breakout of specific range set by user.

 This AFL has multiple combinations to help users setup this concept as per their needs.

  Basic Logic of the strategy : User can Choose a specific time range in which they want the price range to be formed. It can be either at the starting of trading session or even in between, this AFL supports all range. 

 We have given 3 ways in which you can Choose the range in that particular time :

 1. High-Low (For conservative traders) : When you select this option, the high and low of that range is marked and trade is taken at the breakout of these levels. 

 2. Open- Close (For Mildly aggressive traders) : When you select this option, Open and close price range of the selected time range is marked and trade is taken at the breakout of these levels. 

 3. Open ( For aggressive traders) : When you select this option, We just mark a single level and take trades based on the breakout of the levels 

(Note : You need tick data to use this concept and it can generate lots of trades if market stays flat)

Here is the Entry and Exit Logic :

 If the Upper levels of the range is broken, we take a Long position and If Lower Levels of the range is broken we take a Short Position. 

 Target and SL can be set in points/Percentage from the entry levels or also the reversal range can be exit. 

 This AFL has 2 targets and also option to Trail SL. 

 The strategy is Purely Intraday. 

 Parameters : 

Trade Type : Here you choose what type of Range you want to scan, there are three options as mentioned above : Open, Open-Close, High-Low. 

From Time : Enter the time, from which you want to mark the levels. 

To time : Enter the time, till which you want to Mark the levels. 

Ex : If From time is 10:15am and to time is 10:40am, the AFL will mark range from 10:15am – 10:40am. 

Exit time : Enter the time at which you want to exit open intraday positions. 

Target Type : Select If you want Target and Stop loss in terms of Points or Percentage.

Stoploss : If you have specific Stoploss to enter in points/percentage enter it here. 

Target-1 : Enter the First Target at which you want to book 50% of your quantity. 

Target 2 : Enter the Second Target at which you want to book remaining 50% quantity.

Trailing SL As % of Target : Here you can decide from what point should your trailing SL start once Target 1 is achieved. 

(Note : This is a special trailing SL which will activate only after Target 1 is achieved)

%Entry Filter : This is Buffer where you can define the buffer to your range to make it noise free. 

Ex : Your Range for a stock is Lower range = 100 and upper range = 110, if you set % Entry filter as 1%, then a buffer of 1% on both side of the range will be added and hence your updated levels will now be Lower range = 99 and upper range = 111.1

Max trades per day : You can set Maximum number of trades you want in a day using this Strategy.