Timed Candle-Direction Entries with Tick Brackets and Daily Loss Controls

Summary

This strategy checks a candle at a configurable clock time in a chosen timezone, then enters at the next bar’s open based on that candle’s direction. Bullish candles trigger long entries, bearish candles trigger short entries, and dojis are skipped. Separate weekday filters and direction settings can restrict which signals are traded. Positions have configurable stop-loss and take-profit distances in ticks, plus a rule to close at the close of the bar after entry.

Risk controls include a daily loss threshold that blocks new entries and closes an open position, as well as an option to limit trades after a losing day. The description gives an example of a signal around 16:40 Israel time and default bracket values, but provides no backtest performance or evidence that the chosen time and settings are advantageous. Results depend on chart timeframe, timezone, instrument, execution assumptions, and parameter choices; the timed signal may also be missed if the chart bars do not align with the selected minute.

Key ideas

• The strategy uses the direction of a candle at a configurable local time to choose long or short exposure.
• Orders are placed for the next bar, with doji signals ignored.
• Weekday and direction filters control which timed signals can trigger entries.
• Tick-based stop and target orders are combined with a next-bar-close exit rule.
• A daily loss threshold and a post-loss trade limit provide configurable risk controls.

Tags

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