Equal High and Low Reversal Strategy with RSI and ATR Targets

Summary

This strategy looks for repeated highs or lows within a user-set price tolerance over a rolling lookback, treating those clusters as potential reversal zones. It enters when price returns near a detected level, subject to a rejection-candle condition, optional RSI thresholds, a session window, and a cooldown between signals. The settings allow long-only operation, which is enabled by default; the code suppresses equal-high short signals in that mode.

Stops use a fixed point distance from the level anchor, while profit targets are set using a multiple of current ATR. Positions are closed when the session filter is no longer active. The page describes index futures and intraday charts as intended contexts, but supplies no strategy report or verified performance evidence. Its descriptive text also conflicts with the code on touch counts, stop and target sizing, session hours, and defaults, so results depend on the implementation and its actual settings.

Key ideas

• The detector counts highs and lows within a fixed tolerance of the current bar across a configurable lookback.
• Entries require a clustered level, a return near its anchor, and optional RSI and candle-rejection filters.
• Stops use a fixed price distance, while targets scale with ATR.
• Long-only mode is enabled by default and disables equal-high short signals.
• The written description and code disagree on several strategy parameters, so the implemented rules should be checked directly.

Tags

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