MTDS trade entry filter

Originally from ticket #3632.

Tom,

I'm using the MTDS HMA sample trader and I would like to use an entry filter like "close to prior close", but I'm using renko bars (Kbars) and I'm not sure if these filters work with tick based bars such as renko /range bars?

If not, is there another filter or method I can use to make sure that the trade enters only when the bar shows some momentum in the desired direction, e.g. moves above the prior bar's close?

Thanks!

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Hi

Yes they do work with all bar types - depending on the type of bar some filters are more suited than others.
Close[0]>Close[n]

you can also try Bias filters - trend filters

Trade Filter Mode BitWise Flags - 1 to 64, Logical And - Integers 0 to 127, 1:Sloping Rising/Falling ATR Median, 2:Sloping Rising Volume, 4:Sloping Falling/Rising OBV, 8:Sloping Rising ATR, 16:Sloping Rising/Falling Mom, 32:USAR Filter Bias + Other Modes, 64:ATR Median USAR Filter Combo

NOTE!!!! If you are using a bar type which alters the actual data series -such as smoothing data - or moves the open -you need to make sure you set the historical fill to "MTDS on Close" in general parameters to avoid incorrect results in historical testing.

MicroTrends Support
support@microtrends.co
http://www.microtrends.co/support/

Tip! You can visit the help desk forum to see previous answered frequently asked questions:
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