Equal-High and Equal-Low Reversals with Session and RSI Filters

Summary

This strategy searches recent bars for highs or lows clustered within a price tolerance, treating repeated touches as equal-high or equal-low zones. It looks for countertrend entries near those anchors, with optional candle-rejection and RSI filters, a session window, and a cooldown between signals. The default configuration favors long trades at equal lows, while shorts at equal highs require disabling the long-only setting.

Stops are placed a fixed distance beyond the relevant anchor, and targets use an ATR-based distance; open positions are closed outside the selected session. The document explains the intended liquidity-reversal rationale and supplies parameter examples for futures, but it reports no backtest results. The implementation and accompanying description do not fully align: the code requires three touches by default, while some explanatory text describes fewer, and signal detection compares current highs or lows against prior bars rather than separately confirming a stable zone. These details warrant careful review before interpreting results.

Key ideas

• The script identifies clustered highs or lows by counting prior bars within a configurable tolerance.
• It enters countertrend near an equal-level anchor, subject to optional RSI, rejection, and session filters.
• The default long-only setting disables equal-high short signals.
• Stops use a fixed point distance, while profit targets scale with ATR.
• The description and code differ on the required touch count, and no performance results are supplied.

Tags

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