Define Breakout Types

[Rich-Trader]

I am wonderingis it possible to code somethinbgtaht can back test how many days the market you are tarding broke above teh 1 hour range and stayed above or tucked back in broke out below and stayed belw or tucked back in im trying to create a statcal edge not just a break out tsratefy so tryingto define teh numbers
https://usethinkscript.com/threads/opening-range-breakout-indicator-for-thinkorswim.16/

 

[useThinkScript]

I am wonderingis it possible to code somethinbgtaht can back test how many days the market you are tarding broke above teh 1 hour range and stayed above or tucked back in broke out below and stayed belw or tucked back in im trying to create a statcal edge not just a break out tsratefy so tryingto define teh numbers
https://usethinkscript.com/threads/opening-range-breakout-indicator-for-thinkorswim.16/

Is this your question?
Looking for a script:

1. identifies the 1-hour range (high & low) — e.g., the first 60 minutes after the session start,
2. detects days when price broke above that 1-hour high (or broke below the 1-hour low),
3. then classifies each breakout into one of these final outcomes:
   • “Stayed outside” — price left the range and stayed above (for an X-minute window),
   • “Tucked back in” — price left, then re-entered the 1-hour range within Y minutes (or Z bars),
   • “False move” — left briefly but reversed below the breakout price within Y minutes,
4. symmetric classification for breakdowns below the 1-hour low.
5. outputs counts, percentages, and simple stats (avg move after breakout, average time outside, sample size).

Goal: derive a statistical edge (not just enter every breakout; find breakout types and time thresholds that historically hold).