Stocks CFDs are getting quite popular nowadays, even mql5 have implemented the advancement of this asset class with the new metatrader website and FX brokers are also introducing them quite rapidly. From what I know ORB strategy is quite popular in trading stocks...so I built an algo that will trade AAPL cfd in 5 min timeframe based on ORB strategy, I haven't been able to perfect it as I wished like I have for other systems.
The entry is basically it scans the range in the early trading period, recording the highs and lows...checks out the volatility requirement for a healthy breakout or the breakout to be legit.
The exit is focused on with a fixed risk determined stop loss, TP is relative to SL as it is ratio based. Trailing and Breakeven logic is also present. Position sizing is basically determined by risk per trade relative to the initial capital, not capital... this logic can be helpful for doing a prop firm challenge as floating capital based risk per trade can have larger DD impact as lot size will be significantly higher if there is good growth.
The NY opening bell for stocks must be kept in mind for this EA to run, I have customized the timing according to my broker... which you can see in the settings section of the strategy tester.
Let me know if you have any further development ideas or feedbacks.
Environment that is tested on, trying to make the environment as realistic as possible: