First Hour Breakout + MA system by Eugene

First hour breakout system

The system takes positions if the price exceeds the range determined in the first hour of the day, using a moving average as a filter.

Entry rules

  1. Buy at breakout of first hour's high plus one tick, if 9-period moving average is rising
  2. Short at breakdown of first hour's low minus one tick, if 9-period moving average is declining

Exit rules

  1. Exit at a 0.5% stop loss
  2. Exit at a 1.0% profit target
  3. Exit at market at last bar of the day (16:00)

Requires intraday data

Author: Eugene
Category: Breakouts
Creation Date: 11/3/2012
Licence: Freeware
Availability: Globally
Instructions for Script Download
  1. In Wealth-Lab client software, open the Strategy Explorer (Ctrl+O)
  2. Click the "Download..." button
  3. Click "Begin Download"