When doing a trading strategy is possible that we want to carry out an operation only for a specific schedule, or that we do not want to leave open operations during weekends.
Therefore, we should use the time event elements that we have in tradEAsy.
Time filter
Imagine we have a moving average crossover opening strategy, and it has profits and looses pips as 2 exit levels.
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Entry rule:
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Exit rule:
In this strategy, an order according to the price average crossover will open, and it will be closed according to a profit or loss level.
These rules are going to apply while the market of the asset is opened.
How could we do this system to work only in a specific moment of the session?
For doing so, we will use time events, starting by time filter.
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Time filter in an entry rule
With time filter, we are going to filter a beginning and ending hour in a determined rule. In order to do so, we simply drag the element into the rule. You must take into account that tradEAsy assets work with GMT + o, so you should know the time difference between your broker and tradEAsy to apply the time difference.
With this configuration, we assure that the orders are only going to open in that specifical schedule.
However, what happens after this? The orders will remain open until an exit rule occurs.
If what we want is that no order is closed after the time filter, we can do it thanks to time fixed element.
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Fixed time as an exit rule
The fixed time element will give a signal when the broker hour is the one in the parameter (remember that the hour in tradEASy will be GMT + o).
To do so, we will have to create a new rule for this indicator. Is important to understand that it must be an independent rule since if we, for example, add it in the profit rule what we will be doing is defining a rule with 2 conditions, that a level of benefits is achieved at a certain hour.
Another important aspect to take into account is the reading type. By default, the rules read the candle at the closing point. However, if we indicate a precise closing time, for example, 2:05 p.m. and our timeframe is 1 hour, the validation of the fixed hour will happen at 12 p.m., 1 p.m., 2 p.m., etc. This means that it will not be validated in that exact time. That is why we should never indicate a fixed hour to close with a tick reading.
If we want to know more about time filter you may be interested in reading how to configure a strategy to close on weekends.