Daily First Fair Value Gap Limit-Entry Strategy at 10 a.m. New York Time

Summary

This intraday strategy describes one setup per New York trading day, beginning at a configurable session hour that defaults to 10 a.m. It selects the first confirmed three-candle fair value gap whose middle candle falls at or after the start time. The planned entry is a limit order at the gap boundary on its first touch; the stop is placed at the opposite extreme of the candle that formed the gap. The target is based on the directional extreme established after the session begins and before that first touch.

The visible script includes controls for trading direction, contract quantity, session end, and whether to close positions then. It also has a Friday and weekend lock option. The document excerpt ends partway through the script, so the later order-handling details cannot be assessed. It provides no backtest settings or performance results in the excerpt. Fair value gap selection, session timing, and intraday fills may behave differently across markets, chart intervals, and execution conditions; the source alone does not establish profitability.

Key ideas

• The strategy aims to create a single fair value gap setup per New York trading day.
• It places a limit entry at the first-touch boundary of the first eligible confirmed gap.
• The stop uses the gap-forming candle's opposite extreme, and the target uses a prior session extreme.
• Session-end controls and a Friday or weekend lock are included in the visible script.
• The excerpt is incomplete and gives no backtest results, so execution details and performance remain unverified.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.