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High-Low Breakout Strategy with ATR traling Stop Loss

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This script is a TradingView Pine Script strategy that implements a High-Low Breakout Strategy with ATR Trailing Stop.created by SK WEALTH GURU, Here’s a breakdown of its key components:
Features and Functionality
Custom Timeframe and High-Low Detection
Allows users to select a custom timeframe (default: 30 minutes) to detect high and low levels.
Tracks the high and low within a user-specified period (e.g., first 30 minutes of the session).
Draws horizontal lines for high and low, persisting for a specified number of days.
Trade Entry Conditions
Long Entry: If the closing price crosses above the recorded high.
Short Entry: If the closing price crosses below the recorded low.
The user can choose to trade Long, Short, or Both.
ATR-Based Trailing Stop & Risk Management
Uses Average True Range (ATR) with a multiplier (default: 3.5) to determine a dynamic trailing stop-loss.
Trades reset daily, ensuring a fresh start each day.
Trade Execution and Partial Profit Taking
Stop-loss: Default at 1% of entry price.
Partial profit: Books 50% of the position at 3% profit.
Max 2 trades per day: If the first trade hits stop-loss, the strategy allows one re-entry.
Intraday Exit Condition
All positions close at 3:15 PM to ensure no overnight risk.

リリースノート
This script is a well-structured Pine Script strategy for TradingView by SK WEALTH GURU. That implements a high-low breakout strategy with an ATR-based trailing stop-loss. It includes various trade management features like break-even adjustment, profit locking, and partial profit-taking. Here’s a breakdown:

🔹 Key Features:
Custom Timeframe High-Low Detection:

It captures the high and low of a specified time window each trading day.
These levels are extended for a configurable number of days.
ATR-Based Trailing Stop:

Uses an ATR (Average True Range) multiplier to dynamically set a trailing stop-loss.
Trade Entry Conditions:

Long Trade: When the price breaks above the high of the tracked timeframe.
Short Trade: When the price drops below the low of the tracked timeframe.
Trade Management:

Break-even: Moves stop-loss to entry price when price moves favorably.
Profit Locking: Adjusts stop-loss as price moves in favor of the trade.
Partial Profit Booking: Closes 50% of the position after a predefined profit percentage is reached.
Daily Reset & Trade Control:

Resets trade triggers and activity status at the start of a new day.
Ensures only one trade per day per direction.
Automatically closes all open positions at 3:15 PM.
リリースノート
strategy("High Low Breakout with ATR (Developed by SK Wealth Guru) ©", overlay=true)
Logic of the Strategy:
This Pine Script strategy is designed to trade breakouts based on the first 30-minute high and low of the market session. It uses the Average True Range (ATR) Trailing Stop to manage risk and maximize profits.

Key Logic:
Identifying the First 30-Minute Range:

The script tracks the high and low of the first 30 minutes of trading.
These levels act as key support and resistance for potential breakout trades.
Trade Entry Rules:

Long Entry: If price breaks above the first 30-minute high, a buy trade is initiated.
Short Entry: If price breaks below the first 30-minute low, a sell trade is initiated.
Only one trade per day is allowed to avoid overtrading.
ATR-Based Trailing Stop:

Stop-loss is set using ATR (Average True Range) × Multiplier (3.5).
The stop moves in favor of the trade, locking in profits while allowing the trade to run.
Profit Management:

Partial profit booking: 50% of the trade is closed when the price moves 3% in favor.
Final exit: The remaining trade is closed if ATR trailing stop is hit or at 3:15 PM.
Risk Management:

A stop-loss buffer is added to ensure execution.
Positions are forcefully closed at 3:15 PM to avoid overnight risks.
リリースノート
Strategy Description: High Low Breakout (SK Wealth Guru) ©
Overview:
The High Low Breakout (SK Wealth Guru) © strategy is designed to capitalize on the breakout of the first 30-minute high and low. It integrates ATR-based stop-loss and profit targets while ensuring proper risk management, making it a robust approach for intraday trading.

🔹 Key Features:
✅ Breakout Strategy: Captures the first 30-minute high and low and triggers trades upon breakout.
✅ ATR-based Stop Loss & Target: Uses ATR multiplier to manage risk effectively.
✅ Realistic Risk Management: Default risk per trade: 2%, adjustable between 1% - 10%.
✅ Webhook Alerts: Sends alerts for entry, exit, and intraday closing.
✅ Auto Close at 3:15 PM IST: Ensures all open positions are closed before market end.

⚙️ Strategy Logic:
🔹 Trade Entry Conditions:

Long Entry → When price breaks above the first 30-minute high.
Short Entry → When price breaks below the first 30-minute low.
🔹 Trade Exit Conditions:

Stop Loss & Target: Based on ATR x Stop Multiplier.
Intraday Closing: All open positions are closed at 3:15 PM IST.
🔹 Risk Management:

Risk per trade: 1% - 10% (Default: 2%).
Commission: 0.05% | Slippage: 1
📊 Backtesting Guidelines (TradingView House Rules Compliance):
✔ Realistic Account Size (₹10,000 Default)
✔ Risk per trade ≤ 10%
✔ 100+ trades for valid sample size
✔ Webhook & closing time clearly defined

🚀 Use this strategy for educational purposes and conduct thorough backtesting before live trading!

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