different timescales for 1 trade

• 04/18/2022 at 11:28 AM #191847
  alejandrocorbut

  is it possible to create an ‘automatic trade’ using different timescales with the same security? i.e. MACD from FTSE 1 hour, FTSE 30 MINS AND FTSE 5 MINS all being above a certain value to trigger a buy order. I can do this with the manual trading/ triggers/ alerts in Pro Real Time but I can’t seem to set up the order with multiple time scales within the auto trading.

  

  alejandrocorbut

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  04/18/2022 at 11:57 AM #191848
  nonetheless

  you have to use multi-timeframe (MTF), it will look something like the example below.

  You have to run the system on a timeframe that can be divided into all other timeframes; in this case that would mean 5minute, 1 minute, 30 seconds etc

  you can read more about MTF here:

  https://www.prorealcode.com/topic/multi-timeframe-mtf-indicators-for-prorealtime/

   

  TIMEFRAME(1 hour) cb1 = (your 1 hour conditions) TIMEFRAME(30 minutes) cb2 = (your 30 minute conditions) TIMEFRAME(5 minutes) cb3 = (your 5 minute conditions) if cb1 and cb2 and cb3 then buy 1 contract at market endif

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  TIMEFRAME(1 hour) cb1 = (your 1 hour conditions)   TIMEFRAME(30 minutes) cb2 = (your 30 minute conditions)   TIMEFRAME(5 minutes) cb3 = (your 5 minute conditions)   if cb1 and cb2 and cb3 then buy 1 contract at market endif

   

  

  nonetheless

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  04/18/2022 at 5:17 PM #191850
  alejandrocorbut

  thank you for this

   

  very helpful

   

  what is the difference between….

  timeframe(1 hour,updateonclose) and timeframe(1 hour) ?

   

   

   

  

  alejandrocorbut

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  04/18/2022 at 6:53 PM #191853
  nonetheless

  timeframe(1 hour, updateonclose) means that your conditions can only be met at the end of the 1h candle

  with timeframe(1 hour) your conditions can be met at any time within the 1h candle while it is still forming.

  

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  04/19/2022 at 7:16 AM #191858
  Nicolas

  Topic how-to automated trading with MTF: First approach to multi timeframe trading with ProRealTime

  

  Nicolas

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