Parallax Covenant Strategy Regime and Pressure Engine

Summary

The document introduces a Pine Script strategy named Parallax Covenant and shows its initial setup and configurable regime-engine inputs. These include Ichimoku-style Tenkan, Kijun, and Span B lengths, average candle-body measures, and band thresholds intended to distinguish compression from expansion. It also begins a separate pressure engine, with inputs for its measurement window and smoothing.

The available excerpt does not include the formulas that combine these inputs, entry or exit rules, position sizing, or performance results. It therefore provides evidence of a multi-part indicator design, but not enough detail to assess how the strategy trades or whether it performs well. The listed settings are defaults in the script, not validated recommendations; the excerpt gives no market, timeframe, or testing caveats beyond the lack of further information.

Key ideas

• The strategy exposes a regime engine with Ichimoku-style lookback inputs and candle-body measures.
• Band thresholds are configured to classify market compression and expansion.
• A separate pressure engine has its own window and smoothing inputs.
• The excerpt ends before explaining signals, trade management, or backtest evidence.

Tags

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