NY ORB - Full Dynamic System

NY ORB - Full Dynamic Strategy Summary
1. Opening Range and Session Timing
Opening Range (ORB) Calculation: The strategy identifies the ORB High and ORB Low by tracking the highest high and lowest low during the specified New York pre-market window, which is set by default from 8:30 to 8:45 (New York time).

Entry Window: Trading activity is restricted to a specific entry period, typically starting shortly after the ORB is established (default: 8:50 to 12:00).

Hard Exit Time: Any remaining open positions are automatically closed at a fixed exit time (default: 13:25).

2. Trade Entry Logic and Filters
An entry (Long or Short) is generated when the price breaks out of the established ORB, provided it passes a series of optional filters:

Direction Control: The user can restrict the strategy to trade Long Only, Short Only, or Both.

Second Breakout Logic: An optional filter that requires the price to break out, reverse back into the range, and then break out again, confirming momentum after a consolidation.

Confirmation Candle Count: An optional filter that checks the close of a previous candle (e.g., 1 or 2 candles ago) to ensure the price was still inside the range, preventing premature entry.

Technical Filters (Optional): The entry is only executed if it aligns with selected indicators:

RSI: Filters for non-overbought (Long) or non-oversold (Short) conditions.

MACD: Requires the MACD line to be above/below the Signal line for alignment.

VWAP: Requires the price to be above/below the Volume-Weighted Average Price.

Trend Filter (SMMA): Requires the price to be above/below a 50-period Simple Moving Average.

3. Dynamic Risk and Exit Management
This strategy features highly configurable stop-loss and profit-taking mechanics:

Primary Stop Loss Methods: The Stop Loss distance can be dynamically chosen from four types:

Fixed: A fixed number of ticks.

ATR: Based on a multiple of the Average True Range (ATR).

Capped ATR: ATR-based, but with a hard maximum tick limit.

OR-Based: Based on a multiple of the actual ORB High-to-Low range.

Dynamic Profit Target: The Take Profit level is calculated dynamically based on a multiplier of either the ATR or the ORB Range.

Breakeven Stop:

If enabled, the Stop Loss automatically moves to the entry price (Breakeven) once the price moves a predetermined distance in the profitable direction.

An Adaptive Breakeven option allows the trigger distance to be calculated as a percentage of the overall ATR Profit Target.

Trailing Stop: The strategy uses a trailing stop, which can be custom-set (fixed ticks) or dynamically tied to the ATR. An optional feature Auto Tighten Trailing reduces the trailing multiplier once the breakeven level is hit.

MA Cross Exit: An alternative, counter-trend exit mechanism that closes the trade if the price crosses back over the chosen Moving Average (either SMMA or VWAP), overriding the pending profit target.

4. Daily Account Management
The strategy includes crucial daily risk controls to protect capital and lock in profits:

Daily Profit Limit: If the total daily PnL (realized and unrealized) hits a predefined maximum profit threshold (in ticks), all trades are closed, and new entries are blocked for the remainder of the trading day.

Daily Loss Limit: Conversely, if the total daily PnL hits a predefined maximum loss threshold, all trades are closed, and new entries are blocked for the remainder of the day.