Equal-High and Equal-Low Reversal Strategy with ATR Targets

Summary

This partial strategy script seeks reversals around repeated highs or lows. It counts prior bars whose highs or lows fall within a configurable point tolerance of the current bar, then treats enough matches as equal-high or equal-low levels. Inputs control the lookback, minimum touches, entry proximity, cooldown, stop distance, and an ATR-multiplied target. A session filter, RSI thresholds, and candle rejection checks can further restrict signals; the default configuration enables long-only trading.

The excerpt does not include the full signal and order logic: it ends just as signal calculations begin. It therefore does not establish exactly how entries, exits, or the ATR target are executed, and it provides no backtest results or performance evidence. The level test compares current highs or lows directly with historical bars rather than describing a separate pivot-confirmation process. Its point-based tolerance and stop settings may need instrument-specific adjustment.

Key ideas

• The script identifies potential equal highs and lows by counting prior prices within a configurable tolerance.
• A minimum number of matching bars is required before a level is recognized.
• Optional session, RSI, and rejection-candle filters can qualify possible reversal signals.
• Risk inputs include a fixed point stop and an ATR-multiplied target, but the excerpt omits their execution logic.
• The source is incomplete and supplies no empirical performance results.

Tags

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