NQ Lunch Range Sweeps with a Strong-Close Cancellation Rule
Summary
This intraday NQ strategy records the high and low formed during the New York lunch session, then watches for the first sweep during the afternoon trading window. A short setup occurs when price moves above the lunch high but closes back below it; a long setup occurs when price dips below the lunch low and closes back above it. The script is limited to five-minute charts and symbols containing NQ, and it allows only one action per day.
A sweep can be canceled for the day when its bar closes at its own high or low, a rule intended to reject a strong close at the extreme. Otherwise, the strategy issues an alert and submits an entry, with the alert describing entry at the next five-minute open. The supplied excerpt does not show exits, performance results, or backtest evidence, so profitability and full risk behavior cannot be assessed from it.
Key ideas
- The strategy builds a high and low from the noon-to-1 p.m. New York session.
- It looks for the first afternoon wick beyond either boundary that closes back inside the lunch range.
- A sweep bar closing at its own extreme can cancel trading for the day.
- Signals are restricted to five-minute NQ charts, with at most one signal or cancellation daily.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.