NQ Scalping with EMA Pullbacks, RSI Confirmation, and ATR Exits

Summary

This script describes an intraday Nasdaq futures setup that combines trend direction, pullbacks, and momentum. It uses a 100-period EMA to define bullish or bearish bias, then looks for price near the average within a configurable percentage band. RSI must also meet a bullish or bearish threshold before an entry is allowed. A session filter can limit signals to regular exchange hours, and the strategy avoids adding to an existing position.

Exits use stop and target distances scaled to ATR, with an optional maximum holding time measured in bars. The source specifies a cash-per-contract commission model but sets commission and slippage to zero, so its configuration does not capture those trading costs. No performance report or market test results are included in the supplied text. The displayed source ends during the plotting section, so the available document does not show the full script. Parameters, instrument behavior, bar interval, execution assumptions, and realistic costs would all affect results.

Key ideas

• The EMA sets the directional bias, while a percentage band defines a potential pullback area.
• RSI thresholds confirm momentum before a long or short entry.
• ATR multiples set protective stops and profit targets, and a bar-count limit can close stale trades.
• The session filter, trading costs, and execution settings affect how representative a backtest would be.

Tags

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