Five-Minute UT Bot Entries with Multi-Timeframe Trend Filters

Summary

This script outlines a short-term UT Bot style strategy for five-minute charts. It builds an ATR-scaled trailing level from price and generates long or short entries when price crosses that level. Entries also require alignment with configurable EMA filters on the chart timeframe, one-minute data, and fifteen-minute data. Optional ADX and distance-from-fast-EMA conditions screen for trend strength and separation from the average. A time window restricts entries, and percentage-based take-profit and stop-loss orders manage open positions.

The code specifies adjustable indicator lengths and thresholds, but the document provides no backtest settings, performance report, or evidence that the filters improve results. The strategy uses full-equity sizing in its declaration and allows one unit of pyramiding, so losses and exposure may be substantial. Multi-timeframe data handling, signal timing, costs, slippage, and the chosen trading hours can all affect results. The script should be evaluated on the intended market and timeframe before its behavior or risk controls are relied upon.

Key ideas

• ATR determines the distance of a trailing level used for UT Bot style crossover entries.
• EMA filters across three timeframes can require prices to align with a broader trend.
• ADX and distance from the fast EMA are optional entry filters.
• A time-of-day condition limits when new positions may be entered.
• The script specifies take-profit and stop-loss exits but provides no performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.