FTB Shooting-Star Strategy with RSI, Session Filters, and Risk Controls

Summary

This partial automated strategy script describes a short-side setup centered on shooting-star candles. Its inputs include a session window, an optional overbought RSI filter, an optional bullish prior-bar condition, and a filter requiring the signal bar to be the highest within a chosen lookback. A candle-close threshold helps define the shooting-star shape. Stop distance and a risk-to-reward setting govern trade exits.

The script also exposes weekday filters, per-trade risk settings, and parameters for connecting orders to an external execution service, including spread offsets and limit-order selection. These controls illustrate how signal conditions, risk sizing, and execution settings can be made configurable. The supplied document ends partway through the source, so the complete entry and exit logic, performance evidence, and intended markets cannot be assessed; no backtest results are provided.

Key ideas

• The setup uses a shooting-star candle pattern to identify potential short trades.
• Optional RSI, prior-bar, session, and highest-high filters can restrict signals.
• Stop distance and risk-to-reward inputs shape trade management.
• Weekday and risk-per-trade settings provide additional configuration controls.
• The source is truncated, leaving full logic and performance unknown.

Tags

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