Signal on 1h, trade on 5 min

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

  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

   

  

  Dr Manhattan

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

  In the 1h TF add:

  MyBar = Barindex

  1	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

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  Once TradeON = 1 If OnMarket Then    TradeON = 0 endif If not OnMarket and MyBar <> MyBar[1] Then    TradeON = 1 Endif

   

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  robertogozzi

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  03/18/2020 at 9:39 PM #122508
  robertogozzi

  I edited the above code.

  Also add

  And TradeON = 1

  1	And TradeON = 1

  to your entry conditions.

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  robertogozzi

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  03/18/2020 at 9:50 PM #122511
  Dr Manhattan

  Thanks man!

  

  Dr Manhattan

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

  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?

  

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

  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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  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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