Script_Algo - Day Range Breakout Strategy + Trend Filter

📊 Overview

An enhanced version of the strategy based on daily high/low breakouts.

🔑 Key Improvements

1️⃣ Solved the repainting issue.
There are similar strategies in the community, but the historical results of those algorithms absolutely do not correspond to the results of real backtesting.

2️⃣ Added a trend filter.
In most cases, this makes it possible to achieve higher profitability. The trend filter is adjusted using the Lookback Period setting.

3️⃣ Choice of entry principle.
Implemented the ability to choose whether trades are opened based on closing prices or by high/low breakout, which allows finding the optimal settings for a specific instrument.

4️⃣ Improved entry/exit logic.
When an opposite signal appears, before entering a trade, the script first closes the previous position.
✅ This makes the strategy fully ready for algorithmic trading via webhook on any exchange that supports this function.

5️⃣ Better visualization.
🟥 Red and 🟩 green backgrounds indicate the trend direction.

⚙️ How It Works

The principle of the strategy is simple:

Wait for the breakout of the previous day’s high or low.

Enter long on a breakout of the high, or short on a breakout of the low.

Exit occurs on the breakout of the opposite extreme.

📈 This allows capturing long trends.
⚠️ But, like all similar strategies, in a sideways market it produces losing trades.

📌 Example Results

On the OP/USDT pair, this strategy showed about +280% profit in 3 years on the 4H timeframe,
while the coin itself grew only by about 50%.

🕒 Recommended Settings

Timeframe: 1H and higher

On lower timeframes → significant discrepancies may occur between historical and real backtesting data.

On higher timeframes → minor differences are possible, related to slippage, sharp moves, and other unpredictable situations.

⚠️ Important Notes

Always remember: Strategy results may not repeat in the future.

The market constantly changes, so:
✅ Monitor the situation
✅ Backtest regularly
✅ Adjust settings for each asset

Also remember about possible bugs in any algorithmic trading strategy.
Even if a script is well-tested, no one knows what unpredictable events the market may bring tomorrow.

⚠️ Risk Management:
Do not risk more than 1% of your deposit per trade, otherwise you may lose your account balance, since this strategy works without stop losses.

⚠️ Disclaimer

The author of the strategy does not encourage anyone to use this algorithm and bears no responsibility for any possible financial losses resulting from its application!

Any decision to use this strategy is made personally by the owners of TradingView accounts and cryptocurrency exchange accounts.

📝 Final Notes

The script is not published yet, as this is not the final version.

I already have ideas on how to improve it further, so follow me to not miss updates.

🐞 Bug Reports

If you notice any bugs or inconsistencies in my algorithm,
please let me know — I will try to fix them as quickly as possible.

💬 Feedback & Suggestions

If you have any ideas on how this or any of my other strategies can be improved, feel free to write to me. I will try to implement your suggestions in the script.

Wishing everyone good luck and stable profits! 🚀💰