Introduction:
Successful trading often relies on the ability to identify breakout opportunities, especially during the opening range of a trading session. The Open Range Breakout strategy is a popular approach for capturing these early market movements. With Algomojo’s advanced trading infrastructure and Chartink’s robust screening capabilities, traders can seamlessly integrate Open Range Breakout signals into their trading setups. In this blog post, we’ll explore how to integrate the Open Range Breakout strategy with Algomojo via Chartink and create alerts for automated trading.
Step 1: Choose Trade Mode and Access Strategy
- Begin by selecting either “Live Trade” or “Paper Trade” mode based on your preference. Then, navigate to view the specific strategy you want to implement.
Step 2: Copy Strategy Webhook URL
- Scroll down within the strategy details and copy the strategy webhook URL.
Step 3: Access Chartink and Select Screeners
- Go to Chartink and choose the “Screeners” option from the menu.
Step 4: Search for Open Range Breakout Screener
- In the Search Screener box, type “Open Range Breakout” and select “Search Scans.”
Step 5: Select Open Range Breakout and Create Alert
- From the search results, select the Open Range Breakout screener. Press the “Create Alert” button.
Step 6: Configure Alert Details
- Give the alert a name, such as “Buy,” and select the check alert for 1 Minute. Paste the copied Strategy Webhook URL, and ensure the Notification option is set to Always keep Unique.
Step 7: Save the Alert
- After configuring the alert settings, save the alert to activate it.
Step 8: Monitor Signals
- Once the alert is created, signals will begin to generate automatically based on the Open Range Breakout screener. You can monitor these signals on the Algomojo platform under “My Signals.”
Conclusion:
Integrating the Open Range Breakout strategy with Algomojo via Chartink offers traders a powerful solution for capturing early market movements and capitalizing on breakout opportunities. By following these steps, you can seamlessly receive signals from Chartink and execute orders on Algomojo, enhancing your trading efficiency and potentially improving overall performance. Always conduct thorough testing before deploying any strategy in live markets and stay updated with the latest developments on both platforms for optimal results. With this integration, traders can stay ahead of the curve and make informed trading decisions with confidence. Happy trading!