Automate breakout strategy with IB TWS

Project Info:

Automate a breakout strategy by placing bracket order (entry, take profit and stop loss) on a trading instrument when a specific support/resistance level (as specified by the client) is broken.

Sample Customizations

  • Entry condition: Initiate a long position when prices breaks high of last 5 days. Initiate short position when price breaks low of last 5 days.
  • Entry price: Place a stop market entry order at the high/low of last 5 days. Entry price is the high/low of last 5 days.
  • Take profit: Place limit order to book profit at 3%.
  • Stop loss: Place stop market order to book loss at 1.5%. Trail stop loss at 2%.
  • Time Exit: Exit position before close of the day at 3:15 PM.
  • Position Size: Allocate 20% of the capital on the trade.

Specifications

  • Trading Platform: Interactive Broker's TWS
  • API: IB's Python API
  • Language: Python
  • Timeline: 7 Days
  • Deliverable: Python Source Code
  • Cost: $300 - $500
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