NQ/MNQ Volume-Spike Session-Sweep Strategy with Prop Risk Controls

Summary

This TradingView strategy combines volume confirmation with rejection moves around session opens and prior-day or prior-week highs and lows. Long and short signals require a candle to probe near a tracked level and close in the direction of rejection. Filters include a moving average, a 15-minute EMA trend check, selected New York trading hours, and an optional morning bias. Previous-week levels are used on Mondays, while session-open levels are tracked for several times of day.

Risk settings include fixed or wick-based stops, partial exits at two reward targets, position sizing based on a fixed dollar risk, and daily loss and drawdown guards. The script also contains instrument settings for NQ and MNQ, and configurable end-of-day exits for named prop-firm modes. These are implementation rules, not evidence of profitability: the supplied excerpt is incomplete, includes no performance results, and does not establish that the firm settings remain current or that the signals work across instruments or timeframes.

Key ideas

• The strategy looks for rejection candles around session opens and prior-day or prior-week price extremes.
• Volume spikes, EMA trend checks, and trading-session windows can be used to filter entries.
• Stops may be fixed or placed beyond the signal candle wick, with partial exits at two reward targets.
• Position sizing and daily guards aim to constrain risk, but the excerpt provides no performance evidence.

Tags

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