OPEN-SOURCE SCRIPT
Sweep & Reclaim Indicator with Time, EMA & ATR Filter
Candlestick structure scalping
With this model, you are looking for a sweep of a bearish candle, then that bullish candle closes back inside the range of the bearish candle and you buystop the reclaimed candles high. Vice versa for bearish. I like to use the candle low as stop targeting 1R or higher.
You also only want to take trades between 9:30-11:30AM EST, you want an ATR above 10, and a LTF EMA, I like the 10. Those are all attached as filters with this indicator.
With this model, you are looking for a sweep of a bearish candle, then that bullish candle closes back inside the range of the bearish candle and you buystop the reclaimed candles high. Vice versa for bearish. I like to use the candle low as stop targeting 1R or higher.
You also only want to take trades between 9:30-11:30AM EST, you want an ATR above 10, and a LTF EMA, I like the 10. Those are all attached as filters with this indicator.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.