Parent Session Sweeps + Alert

Oct 12

Killzone Ranges with Parent Session Sweep

Key Features:

1. Multiple Session Support: The script tracks three major trading sessions - Asia, London, and New York. Users can customize the timing of these sessions.

2. Killzone Visualization: The strategy visually represents each session's range, either as filled boxes or lines, allowing traders to easily identify key price levels.

3. Parent Session Logic: The core of the strategy revolves around identifying a "parent" session - a session that encompasses the range of the following session. This parent session becomes the basis for potential trade setups.

4. Sweep and Reclaim Setups: The strategy looks for price movements that sweep (break above or below) the parent session's high or low, followed by a reclaim of that level. This price action often indicates a potential reversal.

5. Risk-Reward Filtering: Each potential setup is evaluated based on a user-defined minimum risk-reward ratio, ensuring that only high-quality trade opportunities are considered.

6. Candle Close Filter: An optional filter that checks the characteristics of the candle that reclaims the parent session level, adding an extra layer of confirmation to the setup.

7. Performance Tracking: The strategy keeps track of bullish and bearish setup success rates, providing valuable feedback on its performance over time.

8. Visual Aids: The script draws lines to mark the parent session's high and low, making it easy for traders to identify key levels.

How It Works:

1. The script continuously monitors price action across the defined sessions.
2. When a session fully contains the range of the next session, it's identified as a potential parent session.
3. The strategy then waits for price to sweep either the high or low of this parent session.
4. If a sweep occurs, it looks for a reclaim of the swept level within the parameters set by the user.
5. If a valid setup is identified, the script generates an alert and places a trade (if backtesting or running live).
6. The strategy continues to monitor the trade for either reaching the target (opposite level of the parent session) or hitting the stop loss.

Considerations for Signals:

- Sweep: A break of the parent session's high or low.
- Reclaim: A close back inside the parent session range after a sweep.
- Candle Characteristics: Optional filter for the reclaim candle (e.g., bullish candle for long setups).
- Risk-Reward: Each setup must meet or exceed the user-defined minimum risk-reward ratio.
- Session Timing: The strategy is sensitive to the defined session times, which should be set according to the trader's preferred time zone.

This strategy aims to capitalize on institutional order flow and liquidity patterns in the forex market, providing traders with a systematic approach to identifying potential reversal points with favorable risk-reward profiles.

Oct 13

Release Notes

Killzone Ranges with Parent Session Sweep

Key Features:

1. Multiple Session Support: The script tracks three major trading sessions - Asia, London, and New York. Users can customize the timing of these sessions.

2. Killzone Visualization: The strategy visually represents each session's range, either as filled boxes or lines, allowing traders to easily identify key price levels.

3. Parent Session Logic: The core of the strategy revolves around identifying a "parent" session - a session that encompasses the range of the following session. This parent session becomes the basis for potential trade setups.

4. Sweep and Reclaim Setups: The strategy looks for price movements that sweep (break above or below) the parent session's high or low, followed by a reclaim of that level. This price action often indicates a potential reversal.

5. Risk-Reward Filtering: Each potential setup is evaluated based on a user-defined minimum risk-reward ratio, ensuring that only high-quality trade opportunities are considered.

6. Candle Close Filter: An optional filter that checks the characteristics of the candle that reclaims the parent session level, adding an extra layer of confirmation to the setup.

7. Performance Tracking: The strategy keeps track of bullish and bearish setup success rates, providing valuable feedback on its performance over time.

8. Visual Aids: The script draws lines to mark the parent session's high and low, making it easy for traders to identify key levels.

How It Works:

1. The script continuously monitors price action across the defined sessions.
2. When a session fully contains the range of the next session, it's identified as a potential parent session.
3. The strategy then waits for price to sweep either the high or low of this parent session.
4. If a sweep occurs, it looks for a reclaim of the swept level within the parameters set by the user.
5. If a valid setup is identified, the script generates an alert and places a trade (if backtesting or running live).
6. The strategy continues to monitor the trade for either reaching the target (opposite level of the parent session) or hitting the stop loss.

Considerations for Signals:

- Sweep: A break of the parent session's high or low.
- Reclaim: A close back inside the parent session range after a sweep.
- Candle Characteristics: Optional filter for the reclaim candle (e.g., bullish candle for long setups).
- Risk-Reward: Each setup must meet or exceed the user-defined minimum risk-reward ratio.
- Session Timing: The strategy is sensitive to the defined session times, which should be set according to the trader's preferred time zone.

This strategy aims to capitalize on institutional order flow and liquidity patterns in the forex market, providing traders with a systematic approach to identifying potential reversal points with favorable risk-reward profiles.

Oct 13

Release Notes

Killzone Ranges with Parent Session Sweep

Key Features:

1. Multiple Session Support: The script tracks three major trading sessions - Asia, London, and New York. Users can customize the timing of these sessions.

2. Killzone Visualization: The strategy visually represents each session's range, either as filled boxes or lines, allowing traders to easily identify key price levels.

3. Parent Session Logic: The core of the strategy revolves around identifying a "parent" session - a session that encompasses the range of the following session. This parent session becomes the basis for potential trade setups.

4. Sweep and Reclaim Setups: The strategy looks for price movements that sweep (break above or below) the parent session's high or low, followed by a reclaim of that level. This price action often indicates a potential reversal.

5. Risk-Reward Filtering: Each potential setup is evaluated based on a user-defined minimum risk-reward ratio, ensuring that only high-quality trade opportunities are considered.

6. Candle Close Filter: An optional filter that checks the characteristics of the candle that reclaims the parent session level, adding an extra layer of confirmation to the setup.

7. Performance Tracking: The strategy keeps track of bullish and bearish setup success rates, providing valuable feedback on its performance over time.

8. Visual Aids: The script draws lines to mark the parent session's high and low, making it easy for traders to identify key levels.

How It Works:

1. The script continuously monitors price action across the defined sessions.
2. When a session fully contains the range of the next session, it's identified as a potential parent session.
3. The strategy then waits for price to sweep either the high or low of this parent session.
4. If a sweep occurs, it looks for a reclaim of the swept level within the parameters set by the user.
5. If a valid setup is identified, the script generates an alert and places a trade (if backtesting or running live).
6. The strategy continues to monitor the trade for either reaching the target (opposite level of the parent session) or hitting the stop loss.

Considerations for Signals:

- Sweep: A break of the parent session's high or low.
- Reclaim: A close back inside the parent session range after a sweep.
- Candle Characteristics: Optional filter for the reclaim candle (e.g., bullish candle for long setups).
- Risk-Reward: Each setup must meet or exceed the user-defined minimum risk-reward ratio.
- Session Timing: The strategy is sensitive to the defined session times, which should be set according to the trader's preferred time zone.

This strategy aims to capitalize on institutional order flow and liquidity patterns in the forex market, providing traders with a systematic approach to identifying potential reversal points with favorable risk-reward profiles.