First hour breakout system

The system takes positions if the price exceeds the range determined in the first hour of the day, using a moving average as a filter.

Entry rules

1. Buy at breakout of first hour's high plus one tick, if 9-period moving average is rising
2. Short at breakdown of first hour's low minus one tick, if 9-period moving average is declining

Exit rules

1. Exit at a 0.5% stop loss
2. Exit at a 1.0% profit target
3. Exit at market at last bar of the day (16:00)

Requires intraday data