As shown in the image, I was triggered by a very large out-of-order bar on one occasion. Is it possible to eliminate this alert by using a filter or qualifier?
Rename
I think you mean "undesired", not "false" ;)
If you want to avoid triggering a signal after a large move, you could filter using TrueRange < X * ATR(5) (5- bar Average True Range), where X is some constant, like 2.
If you want to avoid triggering a signal after a large move, you could filter using TrueRange < X * ATR(5) (5- bar Average True Range), where X is some constant, like 2.
It's possible if you come up with a formal rule to filter a high range bar according to your criteria. What is it?
Yes, let's fix the misleading topic title.
WAS: "Avoid false signal"
IS: "Avoid entry on large bar"
QUOTE:
I think you mean "undesired", not "false" ;)
Yes, let's fix the misleading topic title.
WAS: "Avoid false signal"
IS: "Avoid entry on large bar"
Thank you all for responding so quickly
Do you mean like this?
Do you mean like this?
Sure, that's an example if you don't want to ever enter on a bar that moves more than 5 points.
I suggested using TrueRange and a multiple of ATR is so that it's dynamic, not fixed. Test everything!
I suggested using TrueRange and a multiple of ATR is so that it's dynamic, not fixed. Test everything!
Here's the idea - this rule inhibits entries when the True Range (TR) of the signal bar exceeds 3 times the 5-bar Average True Range -
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