Timed Fair-Price Zones and Break-of-Structure Strategy

Summary

This script defines a fair-price zone from the open and close of selected time-of-day candles in the America/New_York timezone. The listed anchor times are 2:59 a.m., 8:29 a.m., 9:29 a.m., 1:59 p.m., 4:59 p.m., and 7:59 p.m.; each can be enabled or disabled. The midpoint and boundaries of the selected candle’s body are stored, and state variables track whether price has moved above or below the zone and whether a later break-of-structure setup is pending. Open positions are closed when a new anchor is reached.

The title suggests entries based on a subsequent break of structure after price drifts away from the zone, but the supplied code ends partway through the drift-detection section. It therefore does not reveal the full entry, exit, or stop logic beyond a configurable point-based stop input and closing before a new anchor. No market, timeframe, backtest results, or evidence of effectiveness is provided. The approach depends on exact bar timestamps and timezone handling, which may affect signal availability across chart intervals and instruments.

Key ideas

• The script defines fair price using the body of a candle at selected New York times.
• It stores the candle-body high, low, and midpoint as a zone for subsequent logic.
• State variables track movement away from the zone and pending long or short structure signals.
• The script closes an open position when a new selected anchor time is reached.
• The supplied excerpt is incomplete, so the break-of-structure entry and exit rules cannot be fully assessed.

Tags

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