Initial Balance Indicator V2.0

Hi winnie.
I was attending a webinar for this strategy. The presenter had 5 min DAX data from 2009 and had it backtested to 80% winnings if pips was <40. But like all trading information you need to test it your self so currently I’m trying to make a automated strategy, but so far with no luck.
 

Previous period? The code states start @08:00 end @ 09:00 so unless you have changed your timezones or somerhing I cannot see how it is not drawn on that timeperiod. Starttime is becaus 8:05 is because start candle 8:00 closed 8:05. The draw is on close

@Herves I didn’t understand you before and was on my phone, so now I am on my Pc and I see what you mean. yes you are right it should be 080500. but it’s only for the drawing part. the high and low are correct.
I’m not sure what to restrict? there is no drawing outside 0800 to 2200 ?
 

No I don’t mind. Maybe together we can find a way. So this was my start. here only on short. Just keep in mind it zero bar trading and the tick by tick test will ruin the profit.
 
 

//===========================================================
//5 min Time frame
//Inital balance shortV1.0
//First Hour in the morning form 8:00-9:00 GMT+1 on DAX
//
//Kasper Elsborg @Elsborgtrading
//===========================================================

//==================DAX Daily Timeframe==========================
// Definition of code parameters
DEFPARAM CumulateOrders = false // Cumulating positions
DEFPARAM PRELOADBARS = 100
//==========================tradeingtime=========================
IF (Time >= 090000 AND Time <= t1) and dayofweek<=5 then// or (Time >= 220000 AND Time <= 220100) and dayofweek=1 THEN //
Tradetime=1
else
Tradetime=0
endif
//===============================================================

//REM Money Management
Reinvest=0
if reinvest then
Capital = 2000
Risk = 1//0.1//in % pr position
StopLoss = 4//7//10 // Could be our variable X

REM Calculate contracts
equity = Capital + StrategyProfit
maxrisk = round(equity*(Risk/100))
MAXpositionsize=5000
MINpositionsize=1
Positionsize= MAX(MINpositionsize,MIN(MAXpositionsize,abs(round((maxrisk/StopLoss)/PointValue)*pipsize)))
else
Capital = 2000
Positionsize=1
StopLoss = 4
equity = Capital + StrategyProfit
Endif

//===============Indicator
x1=stoploss
x2=1
x3=36
x4=-10
x5=2
t1=160000
once upper=0
once lower=0

//starttime = 080000
endtime = 090000

If Time = endtime then
upper=highest[12](high)
lower=lowest[12](low)
dif=round(abs((lower-upper)*pipsize*pointvalue))
endif

//fadebreakoutlow=lowest[3](low)<lower+10
enterhigh=close crosses under upper

If not onmarket and close >=upper-x2 then//and close>lower-x3 and tradetime then
fadehigh=1
elsif onmarket then
fadehigh=0
endif
once shorttrade=x5//2

if not tradetime then
shorttrade=x5//2
endif

//==========Enter market LONG

if dif<=x3 and fadehigh then

if not onmarket and Tradetime and enterhigh and shorttrade<>0 then
sellshort Positionsize CONTRACTS AT MARKET
shorttrade=shorttrade-1
ENDIF
endif
SET STOP loss x1
set target profit dif+(x4)

graph shorttrade COLOURED(0,0,0) AS \"onetrade\"

I have moved the development topic https://www.prorealcode.com/topic/development-of-initial-ballance-automated-strategy/#post-30176
 
 

Sometime along the way since I coded the Indicator something has change in PRT- at least I think. The draw rectangle function is no longer drawn on the time defined- it’s just drawn in all the chart- leaving it very un-useful. Also I experienced utterly low performance when scrolling in the chart so I made a quick fix. It seems to be less process consuming, and I change the draw rectangle with a simple background colour
//===========================================================
//5 min Time frame
//Initial Ballance indicator v2.0 10 min chart
//First Hour in the morning form 8:00-9:00 GMT+1 on DAX
//Observe pips between 25-40, trade faded breakout to opposite High/Low
//Kasper Elsborg @Elsborgtrading
//===========================================================

defparam drawonlastbaronly = false
once upper=0
once lower=0

starttime = 080500
endtime = 090000

If Time = endtime then
upper=highest[6](high)
lower=lowest[6](low)
dif=round(abs((lower-upper)*pipsize*pointvalue))
//bars=barindex
DRAWTEXT(\"#dif# pips\", barindex-6, upper+10,SansSerif,bold, 16)
DRAWARROWDOWN (barindex-6,upper+5)
DRAWARROWup (barindex-6,upper+15)
DRAWTEXT(\"#upper#\", barindex-6, upper,SansSerif,bold, 16)
DRAWTEXT(\"#lower#\", barindex-6, lower,SansSerif,bold, 16)
endif
//if time >=080500 and Time <=090000 then
////backgroundcolor(0,255,255)
//DRAWRECTANGLE(barindex-6,upper,barindex-6,lower) COLOURED(0,255,0)
//endif
if time >=090500 and Time <=220000 then
count=count+1
DRAWsegment(barindex-count,upper,barindex,upper)coloured(0,0,0)
DRAWsegment(barindex-count,lower,barindex,lower)coloured(0,0,0)
else
count=0
endif
//
//if intradaybarindex=0 then
//hh = 0
//ll = 0
//alreadydrawn = 0
//endif
//
//if time=starttime then
//startbar=barindex
//endif
//
//if time=endtime then
//endbar=barindex
//endif
//
//if time>=starttime and time<=endtime then
//if high>hh then
//hh = high
//endif
//if low<ll or ll=0 then
//ll = low
//endif
//endif
//
//if time>endtime and alreadydrawn=0 then
//drawrectangle(startbar,hh,endbar,ll) coloured(0,255,255)
//alreadydrawn=1
//endif
if time >=starttime and Time <=endtime then
backgroundcolor(0,255,255)
endif

RETURN

Btw last code was a 10 min TF ver. 

short answer- you cannot 🙂

upper=highest[6](high)//6 periods on a 10m min TF yield 1Hlower=lowest[6](low)//6 periods on a 10m min TF yield 1H

the indicator works on all instrument, question is if the strategy will work. You have to do you own research for this