# Night Owl v2

Donchian Channel Breakout with ADX trend filter and ATR-based risk management

Canonical: https://prismaticalgos.com/compendium/algo/9754-night-owl-v2
Record ID: 9754
Catalog rank: 1375 (reading order, not performance)
Snapshot: 2026-10-31 15:46 UTC
Family: Trend Following & Directional (A)
Source: https://www.mql5.com/en/market/product/181029
Evidence label (unverified): backtest_shown

## Scope and limitations

These are machine-extracted research records, not verified trading systems. Catalog rank measures specification detail and claimed evidence, not profitability. The catalog extraction pipeline did not independently backtest these records. Its separate selected testing ledger does not validate the wider corpus. Rules, labels and parameters can be incomplete or wrong; consult the original source and its reuse terms.

No endorsement, ownership claim or source-code reuse permission is implied.

## Extraction warnings

Opacity warnings: UNDEFINED ENTRY TERM: the entry conditions are prose naming a concept with no numeric definition, so two readers would implement them differently. Advisory only -- this does not affect the score.
Build warnings: DAILY_LOW_COUNT: daily-or-slower timeframe on a single instrument. Expect well under 100 trades in five years, so a backtest will rarely reach statistical significance on its own.

## Recorded profile

- symbols: Any forex pair, indices, or commodities
- timeframes: Daily
- sessions: Not specified
- market_regime: trending

## Indicators

- Donchian Channel: {"period": 20}; applied to: high
- Donchian Channel: {"period": 10}; applied to: low
- ADX: {"period": 14}; applied to: close
- ATR: {"period": 20}; applied to: close

## Recorded long-entry rules

- Breakout of recent highs (20 periods)

## Recorded short-entry rules

- Breakout of recent lows (20 periods)

## Recorded exit rules

- Reverse breakout (10 periods)

## Recorded filters

- ADX trend filter (25 threshold)

## Risk controls

- Stop loss: ATR-based dynamic stop loss (2.0x ATR)
- Take profit: Risk/Reward ratio based take profit (2:1)
- Position sizing: 2% per trade, up to 10 units pyramiding