If we take as point of reference the opening print of the regular session at 9:30am EST, how to find the distance or range from that point of reference that would provide the best return if we would trade the break out of this range. Can such a task be done with Ninja ? and how would you proceed ?
A comrade in arms suggested 0.0024 as a good starting point.
1) Note the opening print
2) find the distance above it : opening print + ( opening print * 0.0024)
3) find the distance below it : opening print - ( opening print * 0.0024)
Trade the break out of one of these levels
But how to be sure 0.0024 is the optimal candidate ? This value gives a symmetrical range of 5.5 points on the ES where we have 2.75 points above and below the opening print.
Would be curious to test this on a large sample where the risk is 2 points and the first target is 2 points.