Iâve been working on a trend following open range breakout system that I would like to backtest using the SPY and possabily a few other symbols but I donât know enough about backtesting to do it. Is there a service or website that does this with my perameters? I did a search but didn't find the specific results.
System optimization by backtesting is a slippery art. You are far more likely to get a random optimization than a statistically valid one. So I suggest that you learn how to do it yourself to have complete control of all the assumptions made. ESignal is an excellent platform for doing this. For a simple system such as you propose, their autocode generator should make it easy for you and suffice to teach you about the statistical behavior of morning range breakouts. Using the search feature here will also help, as this system is a popular one. Good luck!
You will need intraday data to do this. I'd suggest doing some reading first; this is a well-traveled road. You could go to TradingMarkets.com and see if the Kevin Haggarty articles are still around on this subject. There is also a book by Jim Smith (I think) that was based only this method. first half hour BO I think. best of luck.