I’ve developed this code further using different conditions for detecting trends, hence confirming entry over different timeframe. However looking at the results it seems that the 1 hour momentum filter I have used seems to take a precedence i.e. several of the trades start exactly on the hour?

You will also note that I have used the “Starttime & Endtime” twice one on the default timeframe and once on the 4 hour timeframe. These conditions define the period when I want to determine the Highest Point or Lowest Point (hh &ll) during that period for my entry levels.  I have done this twice as I had an anomaly where the code entered into a trade much later in the day, not at the previously defined price entry level (ll) but when the 8 ema crossed under the 20ema? This seemed to be a fix, although I didn’t understand why it would do that in the first place.

So my question to you good people is:

1. Is there a preferential order in which conditions for entry observe
2. Is there a better way for my trend detection filters to determine downtrend i.e.
   1. Check 4 Hour period for 8EMA < 20 EMA
   2. Check 20 hour OBV > 20 EMA
   3. 3 Check 1 Hour Momentum >horizontal zero line
   4. THEN enter at previously determined entry level at ll ONCE per day only

Hope this makes sense and I have loaded up my current FTSE code (running on 1 min chart) and the screenshot of the results

Steve

//-------------------------------------------------------------------------
// Main code : BBO  FTSE Short 200420 - Trend filters and entry on Lowest Point within 10am to 11am Period
//-------------------------------------------------------------------------
// Definition of code parameters
DEFPARAM CumulateOrders = False // Cumulating positions deactivated
DEFPARAM FLATBEFORE = 110000
// Cancel all pending orders and close all positions at the "FLATAFTER" time
DEFPARAM FLATAFTER = 174500
// Prevents the system from creating new orders to enter the market or increase position size before the specified time
noEntryBeforeTime = 110000
timeEnterBefore = time >= noEntryBeforeTime
 
// Prevents the system from placing new orders to enter the market or increase position size after the specified time
noEntryAfterTime = 161500
timeEnterAfter = time < noEntryAfterTime
 
// Prevents the system from placing new orders on specified days of the week
daysForbiddenEntry = OpenDayOfWeek = 6 OR OpenDayOfWeek = 0

 //Period during which the hh & ll are determined 
starttime = 100000
endtime = 110000

//Filters to determin downtrend
timeframe (4 hour ,updateonclose)
starttime1 = 100000
endtime1 = 110000
if opentime = starttime1 then
endif
if time > starttime1 and time <= endtime1 then
endif
indicator1 = ExponentialAverage[8](close)
indicator2 = ExponentialAverage[20](close)
c1 = (indicator1 < indicator2+50)
timeframe(20 hour,updateonclose)
indicator9 = OBV(close)
indicator10 = ExponentialAverage[16](OBV(close))
c10 = (indicator9 < indicator10 -250 )
timeframe (1 hour, updateonclose)
indicator11 = Momentum[12](close)
c11 = (indicator11 <= 0)
indicator12 = Momentum[12](close)
c12 = (indicator12 <= indicator12[1])

timeframe (default, updateonclose)

if opentime = starttime then
hh = high
ll = low
endif
//determines the highest high & lowest low during the period
if time > starttime and time <= endtime then
hh = max(high,hh)
ll = min(low,ll)
endif
//Long Entry
if not flag and time > endtime and endtime1 AND timeEnterBefore AND timeEnterAfter AND not daysForbiddenEntry and c1 and c10 and c11 and c12 THEN
sellshort 1 contract at ll-1 stop
endif
if onmarket or strategyprofit<>strategyprofit[1] then
flag = 1
endif
 
if dayofweek <> dayofweek[1] then
flag = 0
endif
// Stops and targets
//sl=ll-(hh-ll)
sl = 55//62//x1
tp = 55//70//y1
SET STOP pLOSS sl
SET TARGET pPROFIT tp

Screenshot-2020-04-22-at-09.19.33.png Screenshot-2020-04-22-at-09.18.50.png