Multi-Timeframe Support and Resistance Channels with Candlestick Filters

Summary

This strategy combines a higher-timeframe exponential moving average and a configurable price channel with lower-timeframe entry signals. The channel width can be defined as a percentage of price, an ATR multiple, or a fixed price distance. Entry filters include engulfing candles and pin bars, with configurable size thresholds, candle-range rules, and timeframe inputs. The script also includes trading-session and schedule controls, trade limits, reset conditions, and trade management settings; it exposes execution assumptions such as commission and slippage.

The document describes a large configurable script, including warnings when the chosen higher- and lower-timeframe relationships are invalid. It notes that performance can vary by broker and calls for asset-specific testing, while its defaults are described as tailored to gold. The supplied text is truncated, so the complete entry, exit, and position-sizing rules cannot be reliably reconstructed. No backtest results or evidence supporting the stated defaults are included.

Key ideas

• The strategy uses a higher-timeframe EMA and a configurable channel to frame trading conditions.
• Channel width can be based on price percentage, ATR, or fixed price units.
• Lower-timeframe engulfing and pin-bar filters contribute to entry signals.
• Session controls and modeled commission and slippage are included in the script settings.
• The document is truncated and provides no performance results validating its defaults.

Tags

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