Range Filter Strategy with ATR TP/SL by TOLLBOOTH
By TOLLBOOTH
Performance Metrics
- Author: TOLLBOOTH
- Symbol: CME_MINI:NQ1!
- Timeframe: 5 minutes
- Net P&L: +12,530.00 USD (+1.25%)
- Win Rate: 39.6%
- Profit Factor: 1.037
- Max Drawdown: 45,475.00 USD (4.54%)
- Total Trades: 679
- Sharpe Ratio: 0.028
Description
How This Strategy Works:Range Filter:Calculates a smoothed average (SMA) of priceCreates upper and lower bands based on standard deviationWhen price crosses above upper band, it signals a potential uptrendWhen price crosses below lower band, it signals a potential downtrendATR-Based Risk Management:Uses Average True Range (ATR) to set dynamic take profit and stop loss levelsTake profit is set at entry price + (ATR × multiplier) for long positionsStop loss is set at entry price - (ATR × multiplier) for long positionsThe opposite applies for short positionsInput Parameters:Adjustable range filter length and multiplierCustomizable ATR length and TP/SL multipliersAll parameters can be optimized in TradingView's strategy testerYou can adjust the input parameters to fit your trading style and the specific market you're trading. The ATR-based exits help adapt to current market volatility.