Signal on 1h, trade on 5 min

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  • 03/18/2020 at 9:07 PM #122502 quote
    Dr Manhattan
    Participant
    Senior

    I want to get a signal on the 1 hour timeframe using the timeframe(1 hour) then I would like to take the trade on the 5 min timeframe(5 minute). I notice I can get the signal many times from the hourly time frame so I would only like to take 1 trade / hour. Also I either get stopped out or take profit especially if stopped out would not like to try again this hour. How can I code this? any tips

    03/18/2020 at 9:37 PM #122507 quote
    robertogozzi
    Moderator
    Master

    In the 1h TF add:

    MyBar = Barindex

    Then add this to your 5min TF:

    Once TradeON = 1
If OnMarket Then
   TradeON = 0
endif
If not OnMarket and MyBar <> MyBar[1] Then
   TradeON = 1
Endif
    Dr Manhattan thanked this post
    03/18/2020 at 9:39 PM #122508 quote
    robertogozzi
    Moderator
    Master

    I edited the above code.

    Also add

    And TradeON = 1

    to your entry conditions.

    Dr Manhattan thanked this post
    03/18/2020 at 9:50 PM #122511 quote
    Dr Manhattan
    Participant
    Senior

    Thanks man!

    03/19/2020 at 2:35 PM #122583 quote
    Dr Manhattan
    Participant
    Senior

    Hey Roberto, I have a  new challenge for you. I wanna try to trade 2 times per hour just to se how I fair with a few more trades. The reason could be I could use a tigheter stop to take the first wave down and the get out on the pullback and then back in. Ofc I could also use a larger stop but I still like to minimize any damage when Im going the wrong way. Do you know how?

    03/19/2020 at 4:45 PM #122598 quote
    robertogozzi
    Moderator
    Master

    You need to add a variable to count trades.

    DEFPARAM CumulateOrders = false
TIMEFRAME(1 hour,UpdateOnClose)
Sma10 = close > average[10,0](close)          //variable updated every hour
Bar1h = BarIndex                              //variable updated every hour
TIMEFRAME(default)
ONCE Count = 0
IF Bar1h <> Bar1h[1] THEN                     //at each hour change clear Count
   Count = 0
ENDIF
IF Sma10 AND Count < 2 AND Not OnMarket THEN
   BUY 1 CONTRACT AT MARKET
   Count = Count + 1                          //Tally trades opened
ENDIF
SET TARGET pPROFIT 15
SET STOP   pLOSS   15
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Signal on 1h, trade on 5 min


ProOrder: Automated Strategies & Backtesting

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Dr Manhattan @oakenstream Participant
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This topic contains 5 replies,
has 2 voices, and was last updated by robertogozzi
5 years, 11 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 03/18/2020
Status: Active
Attachments: No files
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