Master Sweep Strategy: Prior Session Levels and ATR-Based Exits

Summary

This strategy tracks the prior Asian session’s high and low, along with the previous day, week, and month extremes. At the close of the bar identified as 8:30, it checks whether price has crossed above any tracked high or below any tracked low. A bearish candle after an upside sweep triggers a short; a bullish candle after a downside sweep triggers a long. The code plots the reference levels for context.

Exits are based on the average entry price and current ATR: a stop and profit limit are set using configurable ATR multiples. The document supplies no backtest results or evidence that the sweep and reversal pattern is profitable. Its session and entry timing rely on chart time values, so timezone and bar interval affect which observations qualify; the Asian-session code identifies hours from 20 onward rather than explicitly defining a complete timezone-aware session. The reaction filter is simply candle direction, and the strategy does not describe additional confirmation or position sizing beyond its declared default.

Key ideas

• Reference levels include prior Asian, daily, weekly, and monthly highs and lows.
• The strategy checks for sweeps on the bar identified as 8:30 and enters on a directional candle response.
• Stops and profit targets are set as configurable multiples of ATR from average entry price.
• The script plots its reference levels but provides no evidence of strategy performance.
• Session and timing interpretation depends on chart time settings and bar interval.

Tags

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