Same-Low Retests with Staggered Long Entries and ATR-Based Exits

Summary

This long-only strategy treats consecutive candles sharing a low as a possible retest setup, then waits for price to move above that shared low before preparing an entry. It places four limit orders at staggered prices derived from a recent volatility estimate, dividing the intended quantity across those levels. Unfilled orders are canceled after a configurable number of candles. The stop is placed just below the retest low, while the profit target is set as a multiple of the distance from the close to that stop.

The script uses ATR to confirm that enough history is available and sets a commission assumption in its strategy declaration. It also plots the setup, entry levels, stop, and target for chart review. The accompanying description is truncated and provides no backtest settings, results, or discussion of market selection. The approach's effectiveness therefore cannot be assessed from the document; its repeated-low trigger, order fills, volatility sizing, and stop-target behavior would need careful evaluation under realistic execution assumptions.

Key ideas

• The entry setup uses repeated lows followed by a higher low as a possible retest signal.
• Four staggered limit orders implement a scaled-in long entry using recent candle-range volatility.
• Unfilled entry orders are canceled after a configurable waiting period.
• The stop sits just below the retest low, and the target scales the entry-to-stop distance.
• The document provides no backtest results or evidence that the method is profitable.

Tags

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