Multi-Signal Regime and Order-Flow Trading with Staged Risk Controls

Summary

The Parallax Covenant strategy is a configurable framework that combines several forms of market context. Its visible code defines a regime state from an Ichimoku-style baseline, candle-body tolerance, and range bands, with compression and expansion measures. A pressure composite blends weighted candle direction with price position in a channel; smoothed pressure and signal comparisons help classify bullish or bearish conditions. The script also includes RSI-based price mapping, a higher-timeframe EMA bias, and pivot and volume inputs for structure zones.

Risk controls include ATR-based stops and targets, trailing logic, a maximum holding period, and an option to close when the regime fails. The provided document is truncated, so the full entry stack, exact execution rules, and remaining calculations cannot be verified. It contains no performance evidence or market-specific validation; the many parameters therefore describe a design, not proof of an edge.

Key ideas

• The regime engine combines a composite baseline with price bands and candle-body tolerance.
• A smoothed pressure measure blends directional candle bodies with price location in a channel.
• The framework includes RSI mapping, higher-timeframe EMA bias, and structure-related inputs.
• Risk settings include ATR stops and targets, trailing behavior, and a maximum holding duration.
• The source is incomplete, preventing verification of the full signal and execution logic.

Tags

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