Overview

The ORB cBot implements a sophisticated multi-session Opening Range Breakout strategy specifically designed for XAU/USD (Gold). This algorithmic trading system combines time-tested market concepts - including session-based range identification, consolidation breakouts, and turtle soup reversals - with advanced risk management features. The bot automatically identifies key market structures during major trading sessions and executes trades with precise entry/exit logic while protecting capital through dynamic position sizing and trailing stops.

Key Features

1. Multi-Session Base Range Identification

• Automated Session Detection:
• • Tokyo Session (00:00-09:00 UTC)
  • London Session (09:00-16:00 UTC)
  • New York Session (16:00-21:00 UTC)
• Smart Base Candle Capture:
• • Identifies the most recent 4-hour candle within active sessions
  • Automatically adjusts for market holidays/weekends
  • Visualizes base range with gold lines on chart

2. Advanced Pattern Recognition

• CRT Formation Detection:
• • Finds consolidation-range-trigger (CRT) patterns at base boundaries
  • Identifies turtle soup reversal setups:
  • • Bearish: False breakout above previous high followed by close below low
    • Bullish: False breakdown below previous low followed by close above high
• Buffer Zone Flexibility:
• • Configurable buffer distance from base levels (default: 50 pips)
  • Adjustable to market volatility conditions

3. Precision Trade Execution

• Entry Logic:
• • Enters on close of reversal confirmation candle
  • Executes at market prices (Ask for shorts, Bid for longs)
• Stop Placement:
• • Stop loss 3 pips beyond signal bar extreme
  • Protects against immediate whipsaws
• Take Profit Strategy:
• • Targets opposite end of base range
  • Captures full range expansion potential

4. Sophisticated Risk Management

• Flexible Position Sizing:
  csharp
  double riskAmount = Account.Balance * (RiskPercent / 100.0);
  double riskPerUnit = stopLossDistance * Symbol.PipValue;
  double units = riskAmount / riskPerUnit;
• • Option 1: Fixed lot size (default: 0.02 lots)
  • Option 2: Risk-based sizing (% of account balance)
• Daily Trade Limits:
• • Configurable max daily trades (default: 1)
  • Prevents over-trading during volatile conditions

5. Professional Trailing Stop System

• Activation Condition:
• • Triggers when trade reaches specified profit (default: 30 pips)
• Trailing Logic:
  csharp
  double newStopLoss = position.TradeType == TradeType.Buy
  ? currentPrice - TrailDistancePips * Symbol.PipSize
  : currentPrice + TrailDistancePips * Symbol.PipSize;
• • Maintains fixed distance from current price (default: 20 pips)
  • Only moves in profitable direction
• Efficient Implementation:
• • Processes in OnTick() for real-time adjustments
  • Only modifies stops when improvement possible

6. Comprehensive Visualization

• Base Range Markers:
• • Solid gold lines at base high/low
  • Session/time labels for reference
• Pattern Identification:
• • Orange diamond: First consolidation bar
  • Red star: Reversal signal bar
• Automatic Cleanup:
• • Removes previous day's drawings
  • Maintains clean chart workspace

7. Robust Error Handling

• Market Condition Checks:
• • Skips weekends/holidays
  • Handles missing bars/data gaps
• Position Safeguards:
• • Unique position labels with timestamps
  • Prevents duplicate entries
• Comprehensive Logging:
• • Detailed trade execution records
  • Error reporting for failed orders

8. Flexible Configuration

csharp

// Core Parameters
[Parameter("CRT Buffer (pips)", DefaultValue = 50)]
[Parameter("Fixed Lot Size", DefaultValue = 0.02)]
[Parameter("Risk % per Trade", DefaultValue = 1.0)]

// Trailing Stop Parameters
[Parameter("Enable Trailing Stop", DefaultValue = true)]
[Parameter("Trail Activation (pips)", DefaultValue = 30)]
[Parameter("Trail Distance (pips)", DefaultValue = 20)]

// Operational Parameters
[Parameter("Max Daily Trades", DefaultValue = 1)]
[Parameter("Enable Visualization", DefaultValue = true)]

• 12 adjustable parameters
• Real-time tuning without restart
• Sensible default values for XAU/USD

Strategy Logic Workflow

1. Daily Reset:
2. • Clears previous day's state
   • Resets trade counters
   • Removes old chart objects
2. Base Range Identification:
3. • Scans recent 4-hour bars
   • Selects most relevant session candle
   • Sets base high/low boundaries
3. Monitoring Phase:
4. • Watches for CRT formations during purge window (09:00-10:30 UTC)
   • Identifies turtle soup reversal patterns
4. Trade Execution:
5. • Calculates optimal position size
   • Enters with protective stops
   • Sets profit target at opposite base level
5. Trade Management:
6. • Activates trailing stop at 30 pip profit
   • Continuously trails at 20 pip distance
   • Closes at target or trailed stop

Unique Value Propositions

1. Session-Adaptive Logic:
2. • Automatically adjusts to Tokyo/London/NY market dynamics
   • Captures institutional order flow at session opens
2. Professional Risk Control:
3. • Dual position sizing modes
   • Trailing stops that lock in profits
   • Daily trade limits prevent overtrading
3. Visual Trading System:
4. • Clear pattern recognition on chart
   • Real-time visual feedback
   • Historical pattern marking
4. Robust Market Handling:
5. • Survives weekends/holidays
   • Handles data gaps gracefully
   • Adapts to changing volatility
5. Precision Timing:
6. • UTC-based time calculations
   • Precise session boundary detection
   • Configurable purge window

Ideal Market Conditions

1. Volatility Environments:
2. • Works best during regular market hours
   • Ideal when volatility > 15 pips/15min
2. Session Transitions:
3. • Particularly effective during:
   • • London open (09:00 UTC)
     • NY-London overlap (12:00-16:00 UTC)
3. Avoid:
4. • Major economic news spikes
   • Illiquid market periods
   • Holiday-thinned trading

Optimization Recommendations

1. Buffer Sizing:
2. • Increase during high volatility (>60 pips)
   • Decrease during low volatility (<30 pips)
2. Trailing Parameters:
3. • Widen distance in trending markets
   • Shorten activation in range-bound markets
3. Time Adjustments:
4. • Shift purge window 30 minutes earlier for Asian markets
   • Extend session end times on high-volume days

This ORB cBot provides institutional-grade trading logic in an accessible automated package, combining sophisticated pattern recognition with professional risk management - all specifically calibrated for the unique characteristics of the XAU/USD market.