SPY Hybrid ORE Strategy v3

This Pine Script strategy implements a SPY Hybrid Opening Range Expansion (ORE) Strategy that trades breakouts from the daily opening range during specific market hours (9:30-11:30 AM). The strategy identifies "sucker moves" - situations where the opening range is unusually large compared to historical volatility (ATR) - and then trades breakouts in the opposite direction of the initial move.
For long positions, it enters when price breaks above the previous bar's high after a large opening range in bullish market conditions (price above 50-day SMA), using the opening low as a stop loss and targeting a profit equal to half the opening range. For short positions, it enters on breaks below the previous bar's low during bearish conditions (price significantly below 50-day SMA with bearish momentum), using more aggressive stops and partial profit-taking. The strategy incorporates multiple filters including volatility (ATR), volume, RSI momentum, and includes risk management through position sizing based on account equity and stop distance, along with time-based exits and cooldown periods between trades.