In this release we added several new features to support a popular trading strategy called "Opening Range Breakout". The Opening Range Breakout (ORB) strategy uses early price movement in an underlying to determine a direction for intraday trading. The high and low of the first 15, 30 or 60 minutes of the trading day are used to establish an "opening range". A trading signal is generated when the stock price breaks out of the high or low side of the opening range.

This signal can be used to trigger a variety of trades. Here is an example backtest, ORB 60m $10 Wide, which trades a bullish or bearish credit spread with the short strike at the opposite side of the opening range when an upside or downside breakout occurs. I will be starting a new live bot as part of the OT 2.0 video series this week that trades a similar strategy!

The following symbols currently support the new ORB features:

SPX, SPY, QQQ, XSP, IWM, GLD and TLT.

The ORB entry trigger allows you to customize the period (5, 10, 15, 30 or 60 minutes), direction, latest entry time and set a minimum and/or maximum width of the opening range.

This is new way of triggering a trade in a backtest instead of setting a specific time of day. We plan to use this framework to introduce new entry triggers for trades in the future. If you have any ideas for additional triggers, please share them in the community.

Combine up to 5 backtests into a single strategy based on simple rules. This unique solution allows you to view and optimize each part of your strategy independently and then combine the results into 1 strategy based on rules. Once you have fine tuned your strategy for maximum profits, generate a bot that automatically trades the combined strategy with the rules you defined!