Range Trading with Higher-Timeframe or Session-Based Detection

Summary

This strategy detects trading ranges using either a higher timeframe or configured market sessions. In higher-timeframe mode, it can select a timeframe from the chart interval or use a manually chosen one; session mode lets the user define time windows and a timezone. The script includes range and pivot logic, confirmation lines, and an optional limit on how long a pending signal can remain valid. Entries follow confirmed bullish or bearish range signals, with stop levels tied to opposing pivots.

Trade management offers a configurable risk-reward target, a stop-only mode that also allows exits on an opposite confirmed signal, and an option to open a position in the opposite direction after a stop is hit. The provided material is a configurable implementation, not a performance study: it gives no backtest results or evidence that detected ranges predict price behavior. Results may depend on timeframe mapping, session definitions, pivot confirmation, and execution assumptions.

Key ideas

• Ranges can be identified from higher-timeframe data or user-defined sessions.
• Higher-timeframe selection can be automatic or manual, while session detection uses a configurable timezone.
• Bullish and bearish confirmations lead to entries with stops referenced to opposing pivots.
• The strategy supports risk-reward targets, stop-only exits, and optional reversal after a stop loss.
• The document supplies implementation details but no performance evaluation.

Tags

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