NQ 9:50 Candle Direction with Fixed Profit and Stop Brackets

Summary

The strategy uses the direction of the five-minute Nasdaq futures candle beginning at 9:50 a.m. Eastern to choose a trade: a bullish candle indicates long, while a bearish candle indicates short. The description says entry occurs after that candle closes at 9:55 a.m. Each position uses a fixed bracket of a 150-tick profit target and a 200-tick stop, with one contract in the script's settings.

The source shown has a timing inconsistency: its entry condition is active during the 9:50-to-9:55 window, while the accompanying description says to trade at 9:55 based on the completed candle. As displayed, the code updates candle direction during that window and may act before the candle has closed. The document supplies no backtest dates, performance statistics, or evidence that the rule is profitable. The time-of-day setup, fixed brackets, and apparent mismatch between description and implementation limit what can be concluded from the published material.

Key ideas

• The described signal takes the direction of the 9:50 a.m. five-minute candle to choose long or short exposure.
• The accompanying description specifies entry at 9:55 a.m., after the candle closes.
• The script sets a 150-tick profit target and a 200-tick stop for one contract.
• The displayed entry condition operates during the 9:50-to-9:55 interval, creating a mismatch with the written description.
• No backtest performance evidence is provided.

Tags

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