Signal-Bar Execution with ATR-Based Position Sizing and Defined Risk

Summary

This script combines higher-timeframe signal detection with configurable execution rules. It can trade failure patterns and inside bars, then either enter when price breaks the signal bar or wait for a matching lower-timeframe signal bar and its break. Bias and setup expiry settings constrain how long those signals remain actionable. Stop placement can reference prior bars or signal bars, while a take-profit target is expressed as a multiple of the stop distance.

The version's stated change is ATR-based sizing: it uses ATR from the signal timeframe to estimate contract quantity for a target dollar amount on a one-ATR favorable move, subject to a maximum size. Optional directional bias uses the prior day's high and low, and the script includes an end-of-day flattening feature. The excerpt provides configuration and implementation details but no test results, so it does not establish profitability or realized risk. Outcomes also depend on instrument specifications, timeframe alignment, fills, and the chosen stops and size limits.

Key ideas

• The script detects failure patterns and inside bars on a selected signal timeframe.
• Execution can enter on the signal bar's break or use a lower-timeframe signal bar as a second setup.
• Stop placement and profit targets are configurable, with the target defined as a multiple of stop distance.
• Position size uses signal-timeframe ATR to target a dollar move and is capped by a maximum contract count.
• Optional prior-day high and low bias and end-of-day flattening are available, but the excerpt reports no performance results.

Tags

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