Strat Sniper

The Strat Sniper indicator provides a multi-timeframe continuity framework to identify high-probability Strat opportunities by filtering for setups that align with broader market direction.

Usage

The Usage section describes how the script can be used to identify specific Strat patterns while ensuring they meet "A" or "A+" grade criteria based on higher-timeframe (HTF) alignment.

Strat Pattern Detection

The tool automatically scans for several key Strat reversal and continuation patterns:

• Bullish Setups: 2-1-2 Reversal, 3-1-2 Continuation, and 2-2 Reversal.
• Bearish Setups: 2-1-2 Reversal, 3-1-2 Continuation, and 2-2 Reversal.

HTF Continuity and Grading

The script evaluates market direction across Weekly, Daily, and 4-hour timeframes.

• A+ Setup: Occurs when all three HTFs (Weekly, Daily, 4H) align with the trade direction (3/3 score).
• A Setup: Occurs when at least two HTFs align with the trade direction (2/3 score). Setups that do not meet these criteria are filtered out to reduce false signals.

Execution and Visualization

Users can define a specific execution timeframe for the Strat logic or leave it blank to use the current chart. When a valid setup is detected, the indicator plots:

• Setup Box: Displays the grade (A/A+), setup name, HTF score, and specific price levels.
• Trigger Lines: Visualizes the Entry (solid), Stop Loss (dashed), and Target (dotted) levels directly on the chart based on the user-defined Risk-Reward ratio.

Details

The script utilizes request.security to fetch trend data from higher timeframes. The continuity score is calculated by checking if the candle body is bullish (close > open) or bearish (close < open) on the Weekly, Daily, and 4H charts.

The Strat logic follows the standardized numbering system:

• 1 (Inside Bar): High and low are within the range of the previous candle.
• 2 (Trending Bar): High or low exceeds the previous candle.
• 3 (Outside Bar): Both high and low exceed the previous candle.

The script combines these sequences to identify valid entry triggers. For example, a "2-1-2 Bull" requires a 2-down candle, followed by an inside bar (1), triggered by a breakout above the inside bar's high (2).

Settings

• Execution TF: The timeframe used to detect Strat patterns. Leave blank to use the chart's current timeframe.
• Show HTF Continuity Table: Toggles the visibility of the dashboard in the top-right corner showing Weekly, Daily, and 4H status.
• Show Setup Box: Enables or disables the detailed information label near the setup candle.
• Show Trigger Lines: Toggles the display of Entry, Stop, and Target lines.
• Box Distance From Candles: Adjusts the vertical offset of the information labels using ATR.
• Entry / Stop Line Length: Determines how many bars forward the trigger lines extend.
• Risk Reward Target: Sets the multiplier for the target line relative to the distance between entry and stop loss.

FAQ

How can I see the HTF trend for different timeframes? The indicator includes a real-time HTF Continuity Table located at the top right of the chart, which displays the current direction and total score for the Weekly, Daily, and 4-hour timeframes.

What is the difference between an A and A+ setup? An A setup indicates that the trade direction is supported by two out of the three monitored higher timeframes. An A+ setup indicates full alignment across all three timeframes, suggesting higher probability.

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