M15 SuperTrend Scalping with RSI, Volume, and Daily Trade Limits

Summary

This EURUSD scalping script combines SuperTrend direction changes with an RSI filter, a volume-above-average check, a session window, and a daily trade cap. It allows a long entry on a SuperTrend direction change when RSI is below 60, and a short entry when the direction change is opposite and RSI is above 40. Position quantity is calculated from a stated 2% equity risk input and the stop distance. Exits use a stop loss and trailing profit settings. The author presents it as an M15 setup targeting one high-conviction reversal per day, but provides no strategy report or measured performance evidence.

The code limits new entries to one per day and restricts them to a session specified as 05:30–16:30 UTC. This differs from the accompanying description of 11:00 AM–10:00 PM IST, so the intended trading hours are unclear. The script also uses volume as a filter, though the document does not establish that volume identifies institutional activity. Its risk sizing depends on instrument tick and point-value conventions, and the stated stop and trailing parameters do not alone establish realized risk after slippage, fees, or gaps.

Key ideas

• Entries combine SuperTrend direction changes with RSI thresholds and volume above its moving average.
• Position size is calculated from a 2% equity risk input and the configured stop distance.
• The script limits entries to one per day and applies a time-of-day session filter.
• The code’s UTC session does not match the accompanying description of the intended IST trading hours.
• No performance results are provided, and execution costs can affect realized risk.

Tags

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