Glossary
Close back
The first 15-minute candle that closes back inside the level a stop hunt went through: back under the first leg after an M, back over it after a W, back inside the Asian range after a plain hunt. It is where every signal of the bot is entered.
Why not enter on the spike
At the moment price breaks a level, nobody knows whether it is a stop hunt or a breakout. On every market the bot reads, about half of the breaks of the Asian range kept going. Selling the first spike above a high is selling every breakout too.
A close back inside is the first thing that tells the two apart. It does not prove the hunt has finished, but it shows the push failed to hold beyond the level for a whole 15-minute candle.
What it costs
The entry is further from the extreme than a perfect fade of the spike would be, and some hunts never close back before running on. The bot accepts both: it trades the close back or nothing. Its stop then goes one average daily range beyond the extreme, wide enough that a second push past the extreme does not take it.
The rule, in the bot's words
Nothing about the entry is a judgement call: it is the close of that candle, and the bot posts the signal at the market price within a few minutes of it.
Questions
Why 15-minute candles?
Short enough to enter close to the turn, long enough that one spike inside a minute does not count as a close back.