Choose the stock for which you want to determine the entry buy and sell levels based on the Range Breakout Method theory.

How to Use the Tool

Here’s a concise explanation of the key columns:

• Sell Below: Level for placing Sell (Short) orders, indicating downward breakdowns.
• Buy SL (Stop Loss): Stop-loss levels for Buy positions to manage risks.
• Sell SL (Stop Loss):  Stop-loss levels for Sell positions to protect your capital.
• Buy Target (1, 2, 3): Offers three profit target levels for Buy positions.
• Sell Target (1, 2, 3): Provides three profit target levels for Sell positions.

The 5 Days Range Breakout Trading Strategy

Trading within a range is a common phenomenon in financial markets.

It often signals a period of consolidation, where the price seems to be stuck between defined levels.

• For traders, this can be both frustrating and challenging.
• However, experienced traders know that these periods of consolidation can lead to powerful opportunities when the price eventually breaks out of its range.
Let’s break down the strategy with Python code to make it more understandable:
```				```
# Calculate Day's Range and Average 5 Days Range
days_range = min(High - Open, Open - Low)
average_5_days_range = sma(Days_Range, 5)

SellBelow = Open - average_5_days_range

# Logic for Placing Orders
elif CMP < SellBelow:
PlaceSellOrder()

# Calculate Buy and Sell Targets

SellTarget1 = SellBelow - average_5_days_range
SellTarget2 = SellTarget1 - average_5_days_range
SellTarget3 = SellTarget2 - average_5_days_range

```
```

In this Python code representation of the strategy:

• We first calculate the `day's range` and the `average 5-day range` using appropriate formulas.
• Then, we determine the `BuyAbove` and `SellBelow` price levels, which represent the breakout points for taking positions. `Buy Stop Loss (BuySL)` and `Sell Stop Loss (SellSL)` levels are also calculated.
• The logic for placing orders is straightforward. If the current market price (`CMP`) crosses above `BuyAbove`, we place a Buy order. If it crosses below `SellBelow`, we place a Sell (Short) order.
• Finally, we calculate the `Buy` and `Sell targets`. `BuyTarget1` represents the first target, `BuyTarget2` is the second, and `BuyTarget3` is the third target. Similarly, `SellTarget1`, `SellTarget2`, and `SellTarget3` are calculated for Sell positions.

This Python code beautifully captures the essence of the Range Breakout strategy, making it more accessible and understandable.

*Please be aware that occasional freezing of the sheet might occur due to data retrieval from Google Finance.