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I'm looking for a formula for backtesting EMINIS the first 90 minutes or so of the day. I would like to be able to back test it and have it generate buy sell signals. I need the following parameters.
1. Time restricted: 1st trade no sooner than 9:40 and no entries after 11:00.
2. Enter trade on close of 1st bar after 9:40 that meets the following conditions.
- if close is above todays open+1.5 points then go long
- if close is less than todays open-1.5points then go short
3. Use profit Target of 5 points
4. Use stop of 3 points.
5. Exit trade on MA 6 period offset 4 if profit target has not been met.
6. Stop and Reverse trade if bar crosses back over open in the opposite direction.
- for example if we are in a long trade (Profit Target or Stop has not been reached) but close of the bar is below the open then we would stop and reverse our trade to short.
7. When in trade change background color to either green(long) or red(short)
I was also wondering about the possibility of confirming the entry with something such as a stochastic or minimum volume or TICK/TRIN. This can come later though.
You can name the formula 90minEmini
1. Time restricted: 1st trade no sooner than 9:40 and no entries after 11:00.
2. Enter trade on close of 1st bar after 9:40 that meets the following conditions.
- if close is above todays open+1.5 points then go long
- if close is less than todays open-1.5points then go short
3. Use profit Target of 5 points
4. Use stop of 3 points.
5. Exit trade on MA 6 period offset 4 if profit target has not been met.
6. Stop and Reverse trade if bar crosses back over open in the opposite direction.
- for example if we are in a long trade (Profit Target or Stop has not been reached) but close of the bar is below the open then we would stop and reverse our trade to short.
7. When in trade change background color to either green(long) or red(short)
I was also wondering about the possibility of confirming the entry with something such as a stochastic or minimum volume or TICK/TRIN. This can come later though.
You can name the formula 90minEmini