Swing-High Breakouts with Higher-Timeframe Trend Filters and Trailing Stops

Summary

This script describes a long breakout system built around confirmed swing points. It enters when price clears a recent swing high, initially places a stop at the recent swing low, then raises that stop as higher lows form. The aim is to stay in an established advance until price violates the sequence of higher lows.

A higher-timeframe trend filter based on higher highs and higher lows can screen entries, using one or two configurable timeframes; this replaces a moving-average filter used in an earlier version. The script also exposes pivot lookback, backtest date range, and chart display settings. It sets a percent-of-equity position size and a commission assumption for strategy evaluation. The supplied excerpt is incomplete, so it does not show all entry and exit logic or report backtest results. The higher-timeframe filter and swing-point rules are configurable, and their usefulness would need to be checked across instruments, timeframes, and costs.

Key ideas

• The strategy enters long when price breaks above a recent swing high.
• An initial stop is placed at the latest swing low and can trail upward as higher lows appear.
• Higher-timeframe higher-high and higher-low structure can filter entries against the broader trend.
• Pivot lookback and backtest dates are configurable, and the script includes commission and position-sizing assumptions.
• The excerpt contains no performance evidence and omits part of the implementation.

Tags

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