Fixed-Time Candle Direction Entries with Unequal Profit Targets

Summary

This simple intraday strategy uses the direction of a five-minute candle at a specified daily time to choose a position: a bullish candle prompts a long entry and a bearish candle prompts a short entry. The described schedule is 08:35 in UTC+5. Long and short positions have separate fixed profit targets, with the stated target larger for longs. The document also suggests adding stop losses, using multiple timeframes, testing different target levels, and adjusting position size.

The published backtest configuration concerns BTC/USDT futures and gives a date range and chart settings, but no returns, trade counts, or risk statistics. There is a timing ambiguity: the prose describes entering after the candle closes, while the code checks a timestamp and evaluates the preceding candle’s direction, so the intended execution timing needs careful interpretation. Fixed-time signals may miss other opportunities, and the strategy as described lacks a stop loss.

Key ideas

• The strategy selects long or short direction from a five-minute candle’s close relative to its open.
• The specified daily decision time is 08:35 in UTC+5.
• Long and short entries use different fixed profit targets.
• The prose and code leave some ambiguity about exactly when the candle signal is acted upon.
• Backtest settings are provided, but no performance results or stop loss rule are reported.

Tags

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