Day Trade Around the Clock! Another EasyLanguage Framework.

Another EasyLanguage Tutorial by George Pruitt!

LEARN HOW TO PROGRAM EASYLANGUAGE

Introducing the Day Trade Around the Clock Framework. 

How does it work?

• You pick the base time and then optimize in increments of your data resolution to determine the best entry time. Here is an example - start at 9:30 and optimize the offset from 5 to 180 minutes in increments of 5. 180 minutes is equivalent to 3 hours. So, you would start trading at 12:30 p.m. If the price meets your algorithm specs, then a trade will be entered. 

• How long should you stay in the trade? Trade duration will determine the success of your entry. Should you stay in the trade for an hour or six hours?  You could start with 60 minutes and search for the best duration by optimizing from an hour to eight hours. It is up to you.

• Do you want to test long side only? Or short side only? Or both?

• The workspace charts incorporate 5-minute bars as data1 and daily as data2 so you can dream up any indicator for filtering trade purposes. Range compression and expansion can be investigated as well.

• Is Monday a better day to trade than Thursday? I don’t know, but you can test that as well. What about just day trading Sunday through Wednesday. 

• Optimize your reward and risk by using a protective stop and profit objective.

• Your charts must contain a 5-minute chart as Data1 (or higher resolution) and Daily as Data2

The equity curve shown was created by day trading during normal 9 to 5 hours, but also trading after the market opens in the night session. Trading the two distinct time frames creates a low correlation and produces a smooth equity curve. Use the Framework to develop your own trading schemes by finding the best times to trade initiate and exit trades around the clock. Learn how to program using time and time displacement, optimize through the days of the week, string manipulation and the use of a simple arrays. Any updates, fixes or upgrades of this product will be free to the purchaser.