Open Drive refers to strong directional movement right from the opening bell, often after an overnight news catalyst.
Traders look for heavy volume and sustained momentum in the first few minutes.
The strategy joins that momentum, entering long or short within the opening range and trailing a stop as price extends.
Positions close quickly if the drive stalls, keeping losses small during choppy opens.
Entry Criteria: indicator signal
Long/Short: Both
Exit Criteria: stop-loss or opposite signal
Stops: Yes, percent based
Default Values:
CandleType = 15 minute
StopLoss = 2%
[*]Filters:
Category: Intraday
Direction: Both
Indicators: Price Action
Stops: Yes
Complexity: Intermediate
Timeframe: Intraday
Seasonality: No
Neural networks: No
Divergence: No
Risk level: Medium