Hey,
I want to build a system when it breaks out of a consolidation range and is making lo.1 < lo, it buys 1 contract long.
When lo.1 > lo then it exits the long position
Where I am stuck is how NOT to generate a buy signal during consolidation periods. I was thinking that I could use the Zone RTX to limit the entries, but when I try to do this it creates a CI.
Would Zone indicator be the best method to use to find consolidation periods or is there a better method? I guess the real issue I am having is defining a zone, Any help is greatly appreciated.
Thank you and Happy Holidays!
Zones is probably the place to start to identify a consolidated range. Let's start with what periodicity and what instrument you're looking at.
Symbol: ES
Time frame: 4tick Reko or 1 minute
Entry: lo > lo.1
Exit: lo.1>lo
End of day: pos=1 (minutes from end of session)
No action rule:
Signal=Zone and set (v#13,0) */ I am just trying to learn the V# use,it’s throwing me for a loop hardcore*/