Timeframe: 1-Day Chart
Strategy Overview:
Breakout–Retest Setup: Wait for price to break above a key resistance zone, then look for a retest of that same level before entering.
Volume Confirmation: The breakout should happen on higher-than-average volume to show real participation.
Momentum Filter: RSI stays above 55 during the retest to avoid weak or fake breakouts.
Trend Bias: 50 EMA should be rising to keep entries aligned with the broader trend.
I’ve been testing this on a bunch of mid-caps and it’s been pretty consistent so far. Haven’t explored it much on indices yet. Would love to know if anyone else trades a similar retest-based setup.
Screener Conditions:
• Price closing above the highest high of the last 15-20 candles
• Volume greater than the 20-day average volume (preferably 1.5x or more)
• Price pulling back within a small range of the breakout level (around +1% to –2%)
• RSI (14) above 55
• 50 EMA sloping upward
Screener Link: AI-Powered Trading Platform for Smarter Trades - Tradomate.one