The Essa System V1.5

6 Tem

The Essa System V1.5

Overview
The Essa System is a comprehensive trading strategy and backtesting tool designed for traders who use market structure and Fibonacci retracements. It automatically identifies significant trading ranges, calculates key retracement levels, and then backtests a complete trading strategy based on entries at these levels.

This is more than just an indicator; it's a full suite of analytical tools designed to help you develop, test, and analyze a complete trading plan directly on your chart.

How It Works
The system's logic is based on a classic price action concept:

2. Range Detection: First, it automatically identifies a significant trading range by finding the highest high and lowest low based on pivot points over a user-defined lookback period.
   
4. Fibonacci Analysis: Once the range direction (bullish or bearish) is established, the script calculates and displays key Fibonacci retracement levels (50%, 61.8%, 70.5%, and 78.6%).
   
6. Trade Execution: The system then looks for historical and live trading opportunities, entering a trade when the price pulls back to one of the enabled Fibonacci levels. All trades are managed with a predefined Stop Loss and Take Profit in pips.
   

Key Features

• Automatic Range & Fibonacci Analysis: Automatically draws the primary trading range and key Fib levels, updating as market structure evolves.
  
• Historical Backtesting: Plots all historical trade entries based on the strategy rules, allowing for a complete performance review over the chosen chart history.
  
• Detailed Trade Visuals: Displays active trades on the chart with clear lines and boxes for entry, stop loss, and take profit zones.
  
• Advanced Session Filtering: Allows you to isolate trades to specific market sessions (London, New York, Asia) with timezone support and daily trade limits.
  
• Built-in Risk Management: A cornerstone of the system. It automatically calculates the required position size for each trade based on your specified Account Size, Risk Percentage, and Stop Loss.
  

• Comprehensive Performance Tables: The script includes two powerful analytical tables:
  
• Trade Helper Table: Shows the status of live or potential upcoming trades, including entry/SL/TP prices and the calculated position size.
  
• History Table: Logs all recent trades and calculates key statistics like Profit Factor, Win Rate, and the overall PnL impact on your account balance.
  

• Customizable Strategy: Fine-tune every aspect of the strategy with inputs for the lookback period, SL/TP in pips, which Fib levels are tradable, and a cooldown timer to prevent over-trading.
  

How to Use

1. Add the indicator to your chart.
   
3. Navigate to the settings and, under "Account Settings," configure your Account Size and Risk Per Trade (%). This is essential for the PnL and position sizing calculations to be meaningful.
   
5. Under "Session Filter Settings," adjust the sessions you wish to trade.
   
7. Analyze the historical trades and the performance tables to understand the strategy's behaviour on your chosen asset and timeframe.
   

Disclaimer: This is a tool for strategy analysis and backtesting. It is not financial advice. Past performance is not indicative of future results. Always use proper risk management.

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Sürüm Notları

Major Updates – Version 3.0

• Universal Asset Support
• Now works with metals, indices, and stocks — not just Forex. All pip/point logic dynamically adjusts based on selected asset type.
  
• Full Market Structure Engine (Phase 1)
• Multi-tier swing detection with live BOS (Break of Structure) and MSS (Market Structure Shift) labels. Choose between Short, Intermediate, or Long-Term structures.
  
• Live Structure Bias Display
• Auto-detects bullish/bearish/neutral structure and shows real-time bias in the Trade Table + optional background tint.
  
• Dynamic Lot Size & PnL Calculations
• Risk, position size, and profit/loss now correctly adjust for different instruments using per-symbol tick value logic.
  
• Cleaner Trade Triggering
• One trade per bar max — no more double-firing on fib levels in high-volatility zones.
  
• Bug Fixes & Sizing Accuracy
• Fixed a prev-close logic bug that broke entry signals in some cases. All sizing now reflects real SL dollar value, not fixed assumptions.
  
• New Alert: Market Structure Break
• Alert triggers when structure flips bullish or bearish, ideal for directional filters or mobile pushes.
  

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Multi-Fib Level Entries
New toggle to enable multiple fib levels to trigger per range leg (e.g. entries at both 61.8% and 78.6%). Ideal for layered scaling or aggressive stacking strategies.

Live Fib Entry Tracker
Clearly tracks which fib levels have been touched and which remain eligible for entry. Prevents duplicate trades on same level unless explicitly allowed.

Optional Fib Confirmation Logic
Entry now requires both a break below the fib level and a close back above (for longs) — or vice versa for shorts. Adds extra precision to timing.

Refined Time-Based Entry Filter
Set specific entry windows by hour (e.g. 08:30–16:00) to ensure trades only fire during peak liquidity. Fully optional and timezone-aware.

Directional Market Structure Filter
Trades only fire if fib leg direction aligns with mid-term structure bias. Ensures you’re not counter-trading trend unless manually overridden.

Aggressive Filter (Beta)
Cancels active trades if deeper fibs are violated (e.g. 78.6%) before TP is hit. Reduces exposure to failed retracements.

Improved Visual Context
BOS/MSS labels now show exact break price. MS table row added to dashboard for at-a-glance trend alignment.

Optimised Range Logic
Cleaner detection of fib leg start/end using better swing sequencing. Supports improved readability and stacking logic.

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Scoring Added

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Code Organisation

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Essa System V4.0 – The Revamp 🎉
• Dynamic Fibonacci 2.0 – auto-extends, self-invalidates, and colours itself.
• Golden-Zone Automation – 61.8-70.5 % box, touch counter, first-touch alerts, one-click trade entries.
• Smart Risk Engine – pair-aware pip sizing + position-size calculator tied to %-risk.
• Touch Analytics Dashboard – live table shows touch count, freshness, and heat-map status for every fib level.
• Trade Visualiser Upgrade – persistent TP/SL/entry/diag lines, drawdown tracking, capped history.
• Integrated Journal – live & historical trade rows, win-rate, profit-factor, account growth – dollars or pips.
• CHoCH / Swing Labelling 2.0 – themeable colours, line styles, optional AOI shading.
• Engulfing Pattern Filters – All / Structure-only / Off with educational tooltips.
• Tons of micro-tweaks for performance, clean UI, and alert handling.

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Essa System v4.1 – "Scalebreak" Update

Multi-Target System (TP1 → TP4)
-Added support for up to four take-profit levels per trade
-Each TP level has its own risk-reward ratio input
-Visual tracking:

• Hit targets are recoloured to yellow
  
• Active target is shown with a bold dotted line
  

-Live journal table now displays TP progress (e.g. TP1✓ → TP2)

Structure-Break Exit Logic (CHoCH Fail-Safe)
-Optional setting to close trades early if the opposite market structure is broken mid-trade
-Useful for protecting trades from strong directional reversals
-Exit reason is recorded as "STRUCTURE" in the trade history

Refined Risk and PnL Tracking
-Trades now update status as partial targets are hit (e.g. "TP2" instead of always "ACTIVE")
-Journal includes the highest TP reached and method of exit
-Partial exits are correctly reflected in win-rate and profit-factor metrics

Visual Enhancements
-Diagonal fib projection line updates in real time to track current active TP level
-TP lines are colour-coded from light to dark green for visual clarity
-Drawn TP/SL levels are now in full sync with journal calculations

Under-the-Hood Stability Fixes
-Improved object cleanup for multi-TP boxes to prevent memory leaks
-Smarter pip-size handling for exotic FX pairs with non-standard decimal formats
-Added safeguards to avoid old trades being closed by unrelated structure breaks

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V4.2

Bug Fix

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V4.3
Autodetection for Pairs

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V4.4
Auto SL Scaling
Auto Pair Detection Enhancements

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V4.5
Table Beautification
Active Trade Table
General Enhancements

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Added Backtester

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Bug Fix

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Updated Backtester

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Updated Backtester
Added Secondary Fibs
Helper Functions

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Bug FIx

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Reordered Settings

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Updated

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Update

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Overlay True Bug