Session Bias and EMA Breakout Signals with ATR Exits

Summary

This strategy organizes signals around Asia, London, and New York sessions. At each session's start it records the midpoint of the first bar, then expands a box to track the session range and colors it according to whether price is above or below that midpoint. A directional signal requires price to clear both the current session mean and the most recently available session mean by an ATR-based buffer, while also being on the corresponding side of an EMA. Trading can be enabled or disabled by session, and the script permits one entry per session.

Entries are market orders, with stop and target levels set at equal ATR multiples; alerts and a dashboard report the session, position, probability field, entry, and levels. The stated probability is a simple fixed score derived from the bull and bear conditions, rather than a statistically estimated likelihood. The document offers no performance results. Session definitions depend on chart time settings, and the exit levels are recalculated from the current close, so the code does not establish fixed entry-based risk distances in all circumstances.

Key ideas

• Session boxes track each session's range and compare price with the first bar's midpoint.
• Signals require directional alignment with session means, an ATR buffer, and an EMA.
• The script supports session filters and resets its one-trade limit at each session start.
• Stops and targets use matching ATR multiples, with alerts and a position dashboard.
• The displayed probability is a rule-based score, and no backtest evidence is provided.

Tags

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