IB strategy
automated algo that trades initial balance breakouts/breakdowns with fully customizable entries, exits, stop losses, and position sizing parameters for futures traders.
information
IB strategy|edgeful.com
what it does
this strategy trades IB (first hour) breakouts with retracement entries. after price breaks the IB high or low, the strategy places a limit order to enter on a pullback into the IB range at a configurable retracement percentage.
two TP levels allow scaling out of positions - TP1 and TP2 are calculated as percentages of the IB size beyond the breakout level. entry is invalidated if price breaks the opposite side of the IB before the limit order fills.
key features
IB (1-hour default) range calculation
retracement-based limit order entries
two TP levels with partial exits
IB size percentage filters
entry invalidation on opposite side breakout
explainer chart
IB strategy|edgeful.com
