Hi all,
Testing an opening range breakout strategy isn’t that hard since the range is easily and objectively defined.
But what about breakouts of a multiday trading range?
For instance, today, the SPY broke out of such a range upon the Open and successfully closed in the green. A 4 or 5 day range depending on how it’s defined…
So, I assume the first step is to define the actual range and herein is the challenge for me. Sometimes this range might be 2 or 3 days of trading. Other times…