Prop ES Bollinger Bands Strat during Single/Dual Trading Session

The Prop ES Bollinger Bands Strat during Single/Dual Trading Session indicator is a mean-reversion strategy designed for ES futures, optimized to align with the risk management protocols of proprietary trading firms. This tool utilizes Bollinger Band crossovers to identify entry points during specific, user-defined New York trading windows while enforcing strict exit rules.

Usage

The strategy identifies potential long entries when the price crosses over the lower Bollinger Band and short entries when the price crosses under the upper Bollinger Band. It is specifically designed to function within one or two customizable trading sessions, ensuring trades are only initiated during high-liquidity or specific strategic hours.

To use the strategy effectively:

• Define your preferred trading direction (Long Only, Short Only, or Both).
• Set your Take Profit and Stop Loss values in ticks to match your risk-to-reward profile.
• Configure the Session 1 and Session 2 start and end times in New York time.
• Ensure the Force Close time is set to comply with "flat-by-end-of-day" prop firm rules.

Details

The script executes based on standard Bollinger Band calculations involving a Simple Moving Average (SMA) and Standard Deviation. The "entryAllowed" logic checks the closing time of the bar against the defined New York session windows to prevent overtrading during volatile off-hours. A built-in "Force Close" mechanism calculates the daily closing timestamp to liquidate any open positions before the market close, preventing overnight holding risks.

Settings

Bollinger Bands

• Length: Sets the period for the SMA and Standard Deviation calculation.
• Multiplier: Adjusts the width of the bands based on the standard deviation.

Trade Direction

• Trade Direction: Allows filtering for Long Only, Short Only, or Both.

Trade Management

• Take Profit Ticks: The distance in ticks to the profit target.
• Stop Loss Ticks: The distance in ticks to the stop loss level.

Trading Sessions (NY time)

• Start/End Hour/Min: Defines the primary window for trade entries.
• Use Second Trading Session: Enables an additional entry window.
• Start/End Hour/Min (Session 2): Defines the secondary window for trade entries.

Force Close

• Hour/Minute (24h): The specific time in New York time at which all active trades will be closed.

FAQ

How do I access Prop ES Bollinger Bands Strat during Single/Dual Trading Session?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Can I use this on assets other than ES?

While optimized for ES futures and prop firm sessions, the strategy can be applied to other assets by adjusting the session times and tick values.

Does this strategy hold trades overnight?

No, the script includes a Force Close feature designed to exit all positions by a specific time each day, ensuring compliance with intraday trading rules.