Multitimeframe issue
Posted: Jul 18 2017
Lets assume i have a Daily strategy and I want to rebuild it into a multi timeframe strategy. I am assuming that after the entry condition became valid and TP/SL are not hit, the daily signal is still valid. The problem I see with a smaller TF with different entry conditions is acting upon the daily signal, it only becomes valid when the entry condition of the Daily TF is valid, otherwise the strategy on the smaller TF wont trigger. This is the problem I want it to trigger as long as the trade on the Daily TF is open, not only when the entry condition is met!
See the graphic here:
Using the Daily strategy on its own, the trade would remain open for 5 days. The entry condition for the Daily signal is only met when the trade is entered, after its just TP/SL. So using a smaller TF upon the Daily signal, in this example 30 Min., makes the 30 Min strategy (assuming that the entry conditions of the 30 Min strategy are met) only trigger of the Day of the entry of the Daily signal. But I want the 30 Min to trigger all 5 days the Daily trade is hypothetically open!
How can i tackle this problem? Create an indicator of the daily Signal with a lookback function to keep entry signals valid, although they did not occur in this bar? Any recommendations?
See the graphic here:
Using the Daily strategy on its own, the trade would remain open for 5 days. The entry condition for the Daily signal is only met when the trade is entered, after its just TP/SL. So using a smaller TF upon the Daily signal, in this example 30 Min., makes the 30 Min strategy (assuming that the entry conditions of the 30 Min strategy are met) only trigger of the Day of the entry of the Daily signal. But I want the 30 Min to trigger all 5 days the Daily trade is hypothetically open!
How can i tackle this problem? Create an indicator of the daily Signal with a lookback function to keep entry signals valid, although they did not occur in this bar? Any recommendations?