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Post-central bank speech review template for scalpers
Posted: Tue Oct 06, 2026 9:05 pm
by LondonScalper
After every central bank speech that affects my pairs, I fill in a short review template. Here it is, in case it is useful.
Speech details: speaker, date, London time, and what I expected beforehand in one line.
Before: what I did ahead of the speech. Was I flat? Did I close anything early? Was that the right decision?
Price reaction: how far EURUSD, or whatever pair is relevant, moved in the first five and thirty minutes. Did the first move reverse?
Spread: how wide it got and how long it took to return to normal.
My trades: any trades taken during or after the speech, with entry, exit and result in R. Was each one on my plan before the speech, or improvised?
Rule check: did I break any rule? Which one, and why?
One lesson: a single sentence on what I would do differently next time.
The template takes about five minutes. After a few months, the reviews show patterns. For example, I found that speeches by one particular policymaker rarely moved the market more than 15 pips, while press conferences after decisions often moved it 50 or more. That changed how strictly I treat each type of event.
The rule check is the most important part. Most of my losses around speeches came from improvised trades.
Re: Post-central bank speech review template for scalpers
Posted: Tue Oct 06, 2026 9:27 pm
by PTScalper
LondonScalper wrote: Tue Oct 06, 2026 9:05 pm
After every central bank speech that affects my pairs, I fill in a short review template. Here it is, in case it is useful.
Speech details: speaker, date, London time, and what I expected beforehand in one line.
Before: what I did ahead of the speech. Was I flat? Did I close anything early? Was that the right decision?
Price reaction: how far EURUSD, or whatever pair is relevant, moved in the first five and thirty minutes. Did the first move reverse?
Spread: how wide it got and how long it took to return to normal.
My trades: any trades taken during or after the speech, with entry, exit and result in R. Was each one on my plan before the speech, or improvised?
Rule check: did I break any rule? Which one, and why?
One lesson: a single sentence on what I would do differently next time.
The template takes about five minutes. After a few months, the reviews show patterns. For example, I found that speeches by one particular policymaker rarely moved the market more than 15 pips, while press conferences after decisions often moved it 50 or more. That changed how strictly I treat each type of event.
The rule check is the most important part. Most of my losses around speeches came from improvised trades.
Hi Fairman,
This is a fantastic template, and I’m definitely going to incorporate that "One lesson" single-sentence rule into my own journal. It forces you to distill the noise of a volatile session into a single actionable takeaway.
I approach these central bank events with a very specific, rigid sequence, and your template aligns perfectly with how I track my own performance—especially regarding the "Before" and "Price Reaction" phases.
Re: Post-central bank speech review template for scalpers
Posted: Tue Oct 06, 2026 9:28 pm
by PTScalper
Here is how I tackle the timeline of these speeches, which heavily relies on sitting on my hands during the initial chaos:
The "Before" Phase: Staying Completely Flat
I never hold a position heading into a scheduled central bank speech or press conference. The liquidity vacuum that happens right before the mic goes live means that even if you have the direction right, the spread widening can easily trigger your stop-loss before the real move happens. Staying flat isn't just about protecting capital; it protects my psychological capital. If I’m in a trade that gets instantly stopped out by a 20-pip algorithmic spike, I am highly likely to revenge-trade the rest of the session. Being flat keeps my head clear.
Re: Post-central bank speech review template for scalpers
Posted: Tue Oct 06, 2026 9:28 pm
by PTScalper
The First Reaction: Let the Algos Fight
When you track the "Price reaction" in your template, you've probably noticed that the first 5-minute candle is often a massive, irrational spike. I completely ignore this initial move as a trading opportunity. That first thrust is mostly algorithms reacting to keyword sentiment in the released text or the opening statement. It’s highly unpredictable and prone to brutal whipsaws. Trying to catch that first wave usually results in terrible fills, massive slippage, and getting trapped at the extreme top or bottom of a wick.
The Pull-Back: The Real Entry Window
This is where my core strategy begins. After that initial 5-to-15 minute knee-jerk reaction establishes the market's true interpretation of the speech, I wait for the inevitable pull-back. Once the initial buying or selling climax exhausts itself, price almost always retraces to test a near-term level—whether that’s a moving average, VWAP, or a freshly broken support/resistance zone.
Re: Post-central bank speech review template for scalpers
Posted: Tue Oct 06, 2026 9:28 pm
by PTScalper
Scalping into the Trend
I use that pull-back as my trigger. Once price shows exhaustion on the retracement and starts turning back in the direction of the initial post-speech reaction, I start scalping into the newly established trend. By waiting for this secondary move, the spreads have usually normalized (which you rightly track in your template), and the "fake-out" risk is significantly lower. The momentum is cleaner, the volume is organic rather than algorithmic, and I can set a tight, logical stop-loss just behind the pull-back pivot.
Because of this approach, your Rule check section resonates heavily with me. My biggest historical losses always came from breaking my core rule: Do not enter during the first 5 minutes.
If I were to add one metric to your already solid template based on this pull-back strategy, it would be: Retracement Depth. I’d track whether the pull-back after the initial spike retraced 38%, 50%, or completely wiped out the first move. Over time, that data might tell you which policymakers trigger trends that actually hold, and which ones just create temporary noise.
Re: Post-central bank speech review template for scalpers
Posted: Tue Oct 06, 2026 9:31 pm
by PTScalper
This Pine Script translates your manual workflow—staying flat during the initial speech volatility, identifying the first reaction, waiting for the pullback, and scalping into the trend with a logical stop-loss—into a systemic TradingView strategy.
Re: Post-central bank speech review template for scalpers
Posted: Tue Oct 06, 2026 9:31 pm
by PTScalper
It uses a customizable time window for the "speech and initial reaction," an EMA to define the pullback, and dynamically places your stop-loss just behind the pullback pivot.
Code: Select all
//@version=5
strategy("News Pullback Scalper", overlay=true, initial_capital=1000, margin_long=100, margin_short=100)
// =========================================================================
// INPUTS
// =========================================================================
news_session = input.session("14:00-14:15", title="News & Initial Reaction Window", tooltip="Exchange time. Set this to cover the speech and the first 5-15 mins of reaction.")
ema_len = input.int(9, title="Pullback EMA Length", tooltip="Used to define the pullback and entry trigger.")
rr_ratio = input.float(2.0, title="Risk/Reward Ratio", step=0.5)
// =========================================================================
// STATE VARIABLES
// =========================================================================
var float init_open = na
var float init_close = na
var int trend_dir = 0 // 1 = Bullish, -1 = Bearish
var bool pullback_valid = false
var bool trade_taken = false
var float pivot_extreme = na
// =========================================================================
// SESSION LOGIC (The "Before" & "First Reaction" Phase)
// =========================================================================
in_news = not na(time(timeframe.period, news_session))
news_start = in_news and not in_news[1]
news_end = not in_news and in_news[1]
// Reset variables when the news window begins (staying flat)
if news_start
init_open := open
trend_dir := 0
pullback_valid := false
trade_taken := false
pivot_extreme := na
// Determine the initial reaction direction when the window closes
if news_end
init_close := close[1]
trend_dir := init_close > init_open ? 1 : (init_close < init_open ? -1 : 0)
pivot_extreme := trend_dir == 1 ? low : high // Initialize pivot extreme
// =========================================================================
// PULLBACK & ENTRY LOGIC (The "Scalp into Trend" Phase)
// =========================================================================
ema = ta.ema(close, ema_len)
plot(ema, color=color.blue, title="Pullback EMA")
// Background highlight for the "No Trade" news window
bgcolor(in_news ? color.new(color.gray, 80) : na, title="News Window")
valid_window = not in_news and trend_dir != 0 and not trade_taken
if valid_window
// Track the extreme of the pullback to place a logical stop loss
if trend_dir == 1
pivot_extreme := math.min(pivot_extreme, low)
else if trend_dir == -1
pivot_extreme := math.max(pivot_extreme, high)
// LONG SETUP
if trend_dir == 1
if close < ema // Price pulls back below EMA
pullback_valid := true
if pullback_valid and close > ema // Price crosses back above EMA (Trigger)
float sl = pivot_extreme
float risk = close - sl
float tp = close + (risk * rr_ratio)
strategy.entry("Long Scalp", strategy.long)
strategy.exit("Exit Long", "Long Scalp", stop=sl, limit=tp)
trade_taken := true
pullback_valid := false // Reset for next event
// SHORT SETUP
if trend_dir == -1
if close > ema // Price pulls back above EMA
pullback_valid := true
if pullback_valid and close < ema // Price crosses back below EMA (Trigger)
float sl = pivot_extreme
float risk = sl - close
float tp = close - (risk * rr_ratio)
strategy.entry("Short Scalp", strategy.short)
strategy.exit("Exit Short", "Short Scalp", stop=sl, limit=tp)
trade_taken := true
pullback_valid := false // Reset for next event
Re: Post-central bank speech review template for scalpers
Posted: Tue Oct 06, 2026 9:31 pm
by PTScalper
How to use this with your workflow:
News & Initial Reaction Window: Adjust this session time to match the exact minutes you want to sit on your hands. The script will highlight this zone in gray. It takes the open of the first candle in this zone and the close of the last candle to determine if the "First Reaction" was bullish or bearish.
Pullback EMA: This replaces discretionary trendline drawing. If the initial move was bullish, the script waits for the price to drop below the EMA.
The Trigger: As soon as the price crosses back above the EMA in the direction of the initial reaction, it fires the trade.
Logical Stop-Loss: While waiting for the trigger, the script actively tracks the absolute lowest point (for longs) or highest point (for shorts) of the pullback. When the trade triggers, it automatically places your stop-loss precisely at that pivot extreme.
Re: Post-central bank speech review template for scalpers
Posted: Tue Oct 06, 2026 9:32 pm
by PTScalper
To upgrade this from a basic script to a professional-grade backtesting and trading tool, we need to introduce the mechanics that institutional and funded traders actually use.
A "pro" strategy doesn't just look for entries; it manages capital, filters out dead setups, and provides visual clarity on the chart.
Here is the upgraded Pro News Pullback Scalper.
Re: Post-central bank speech review template for scalpers
Posted: Tue Oct 06, 2026 9:32 pm
by PTScalper
What makes this version "Pro"?
Dynamic Position Sizing (Risk %): Instead of buying fixed lots, it calculates exactly how many units to buy based on your account equity, risk percentage (e.g., 1%), and the exact distance to your stop loss.
Setup Expiration (Time Filter): If the pullback takes too long (e.g., the market chops around for 2 hours after the speech), the setup is invalidated. Professional scalpers don't take stale setups.
Maximum Stop Loss Filter: If the news causes an absolute bloodbath and your stop loss would be wildly far away, the script cancels the trade to protect you from extreme, unmanageable volatility.
Visual Trade Mapping: It draws a shaded box over the initial "news chaos" range so you can visually see the breakout. It also dynamically plots your Stop Loss and Take Profit lines while a trade is active.