ES and NQ Level-Sweep Entries with ATR Stops and Trade Limits

Summary

This script describes an intraday futures setup for ES and NQ. It tracks the prior day's high and low, premarket extremes, and the first half-hour opening range. During the New York morning session, it scores failed breaks of these levels: a long requires sweeps below at least two lows, while a short requires sweeps above at least two highs. It caps the number of entries per day and uses an ATR-based buffer beyond the signal bar's low or high for the initial stop.

The visible excerpt also defines targets at one and two times the calculated risk and begins trade management that moves a long stop to breakeven after the first risk unit. It describes fixed risk as a percentage-style input, but the shown sizing assigns that input directly as order quantity. The source cuts off before the full scaling and trailing rules are visible, and provides no performance results or validation. These mechanics therefore describe a proposed system, not evidence of profitability.

Key ideas

• Entries require a failed break of at least two tracked price levels during the New York morning session.
• The strategy monitors prior-day, premarket, and opening-range highs and lows.
• ATR determines a buffer beyond the signal bar for the initial stop.
• The visible code sets one-risk and two-risk profit targets and starts moving the long stop to breakeven after one risk unit.
• The excerpt does not show complete exit management or provide backtest evidence.

Tags

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