The related article is copyrighted material from Stocks & Commodities Mar 2010 You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
You can change long to short in the Input Settings WARNING: - For purpose educate only - This script to change bars colors.
Why don't you introduce a fixed stop like 2 or 3 ATR or configurable, clearly it would cut your losses in the unfavourable movements? (See your shorts).
Also food for thoughts -the idea of a bandpass filter is that it works well in the signal where a relatively stable cycle can be detected. Thus the parameters for the band filter must be multiples of such a cycle length or it won't make much sense, as can be seen in your chart where shorts are way off. For example highpass 1/2 cycle, lowpass 1 cycle. Or highpass 1 cycle, lowpass 2-4 cycles etc. You need to first manually observe and measure the cycle length in the asset, then apply the found values to the filter in your strategy for best results. Clearly 20 on H1 chart does not work as there is no cycle of 20 hours in e-minis.
Good luck!
HPotter
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@ekoronin, Thanks for the offer, I will think about this.
Also food for thoughts -the idea of a bandpass filter is that it works well in the signal where a relatively stable cycle can be detected. Thus the parameters for the band filter must be multiples of such a cycle length or it won't make much sense, as can be seen in your chart where shorts are way off. For example highpass 1/2 cycle, lowpass 1 cycle. Or highpass 1 cycle, lowpass 2-4 cycles etc. You need to first manually observe and measure the cycle length in the asset, then apply the found values to the filter in your strategy for best results. Clearly 20 on H1 chart does not work as there is no cycle of 20 hours in e-minis.
Good luck!