DTS.txt

//@version=5
strategy("Directional Trading Strategy", overlay=true)

// Define session in EST
session = input.session('0800-1600', 'Session')

// Check if current time is within trading hours
withinTradingHours = not na(time(timeframe.period, session))

// Initialize variables
var string direction = na
var float entryPrice = na

rangereq = input.int(17, "rangereq")
BTSExtendedTrading = input.bool(true, 'BTSExtendedTrading')

// Check for consecutive bars
consecutiveUp = close > open and close[1] > open[1] and close[2] > open[2] and close[3] > open[3] and close - close[3] > rangereq
consecutiveDown = close < open and close[1] < open[1] and close[2] < open[2] and close[3] < open[3] and close[3] - close > rangereq

// Set direction based on consecutive bars
if ((consecutiveUp) or (strategy.position_size > 0 and close > entryPrice)) and BTSExtendedTrading
    direction := "UP" 
if ((consecutiveDown) or (strategy.position_size < 0 and close < entryPrice)) and BTSExtendedTrading
    direction := "DOWN"

// Manage trades based on direction
if (direction == "DOWN" and close > open) and withinTradingHours // If direction is DOWN and we encounter an UP bar
    entryPrice := close
    strategy.entry("Short", strategy.short)
    direction := na // Reset direction after entry

if (direction == "UP" and close < open) and withinTradingHours // If direction is UP and we encounter a DOWN bar
    entryPrice := close
    strategy.entry("Long", strategy.long)
    direction := na // Reset direction after entry

if (strategy.position_size < 0) // If in a short position
    strategy.close("Short")

if (strategy.position_size > 0) // If in a long position
    strategy.close("Long")

// Exite all trades at 16:00 EST
if not withinTradingHours
    strategy.close_all()

// Check for profitable trades
if (strategy.position_size < 0 and close > entryPrice) // Short not profitable
    direction := na

if (strategy.position_size > 0 and close < entryPrice) // Long not profitable
    direction := na