Monitoring for and trading a breakout

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Monitoring for and trading a breakout

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A common concept many traders use is the idea of a breakout. Points of interest are when the price breaks out from a consolidation range or from previous highs and lows.

 

Key concepts in this example

Determining and storing the first 30 bar high
Submitting a long stop order to be filled when price breaks out from the 30 bar high
Closing positions after a certain amount of bars have passed
Resetting the 30 bar high at the start of every new trading session

 

Important related documentation

IsFirstBarOfSession
BarsSinceNewTradingDay
BarsSinceEntryExecution()
BarsSinceExitExecution()

 

Import instructions

1.Download the file contained in this Help Guide topic to your PC desktop
2.From the Control Center window, select the menu Tools > Import > NinjaScript
3.Select the downloaded file

 

SampleBreakoutStrategy_NT8.zip