John Carter Scalper Signals from Price Breaks and Moving-Average Context

Summary

This indicator generates long and short signals using price structure, a 20-period average of typical price, and levels derived from detrended price oscillators applied to highs, lows, and closes. A potential short setup begins when price makes a local high above recent highs and a prior calculated high level; a later sequence of conditions involving the close and low levels confirms the signal. The long side applies mirrored conditions around a local low and calculated lower level. Signals are offset from price by half of a 20-period average true range, and output is suppressed during the first 100 bars.

The code maintains direction and bar-index state to regulate signal sequencing. It does not explain the rationale behind the specific lookbacks or thresholds, and gives no market, timeframe, backtest, or performance evidence. The indicator defines signal outputs, not a complete trading plan: position sizing, exits, costs, and risk controls are not described.

Key ideas

• The indicator combines local price extremes with levels calculated from detrended highs, lows, and closes.
• A 20-period typical-price average provides context for the long and short conditions.
• Signal confirmation uses follow-on price relationships, with long and short logic structured in opposite directions.
• The plotted signal levels use an offset based on half of a 20-period average true range.
• The code suppresses signals during its first 100 bars and provides no backtest or risk-management rules.

Tags

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