Fair Value Gap and Rolling Price Signals with ATR Exits

Summary

This script combines fair value gap conditions with rolling 50-bar highs and lows to generate long and short signals. It calculates a 14-period ATR and places a stop at a multiple of ATR from the current close. For each signal, it submits five entries with profit targets set at different ATR multiples, while sharing the side’s stop level. The code has no session restriction and also draws gap lines and trade information on the chart.

The document provides code but no explanatory analysis, backtest settings, or performance evidence. Its signal definitions deserve scrutiny: the buy condition uses a close crossing above the rolling low, while the sell condition crosses below the rolling high, and gap conditions are combined with these using OR logic. The script also submits several entries on a single signal, so actual exposure and order handling depend on platform behavior and strategy settings. ATR-based exits do not by themselves establish profitability, and the document gives no evidence about costs, slippage, or performance across markets.

Key ideas

• The script combines rolling price levels and fair value gap conditions to trigger trades.
• It uses a 14-period ATR to set stops and to space five profit targets.
• Each signal can submit five entries, with targets at different ATR multiples.
• Trading is enabled at all times, with no session filter.
• No backtest results or evidence of profitability are provided.

Tags

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