Tap’n’Slap Fair Value Gap Entries with Capped Stops and Trailing Exits
Summary
This TradingView strategy script describes a futures trading system built around fair value gaps (FVGs), with swing points used to identify potential targets. Its inputs include a minimum distance from each FVG edge, an option requiring an opposite-color candle, a swing lookback, and a maximum age for active gaps. A minimum reward-to-risk filter can also be enabled.
Trade management includes a trailing stop, a breakeven trigger and offset, and a cap on initial stop distance. The script sets fixed position sizing, disables pyramiding, and specifies a per-contract commission. Visual options display gaps and entry, stop-loss, and target levels. The visible excerpt also records swing highs and lows for later reference.
The document is only a partial source listing: it ends during a helper function, before the entry and exit rules are shown. It supplies no performance results or backtest evidence, so the strategy’s signal details and effectiveness cannot be assessed from this excerpt.
Key ideas
- The script uses fair value gap boundaries as part of its entry model.
- An optional rule requires an opposite-color candle before a signal.
- Swing highs and lows are tracked for potential target selection.
- Trade management includes trailing, breakeven, and capped initial stops.
- The excerpt ends before the complete signal and order logic is provided.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.