Multicharts: Working with Hours on 1min Bars

[hrokling 10]

So far I'm struggling with a piece of code for my new system. I want to base my strategy upon the hourly open, but at the same time use 1-min bars for some accuracy when backtesting.

 

My intention was to use the variable LastBarTime+2 to compare for instance 1000 to 0959+2 and thus identify that a new hour had started. But, this method doesn't work for me. Anyone familiar with the time functions care to offer anything on this?

 

[intrabarOrderGeneration = true]

Inputs:Equity( 1000000 ),
Price ( Close ),
OpenPrice( Open ),
BreakOutValue ( 0.0015 ),
ProfitTarget (0.0005),
EMALength (120),
AutoTrading (False);

Variables: 	StopPrice(0),
	LastBarTime(0),
	HourlyOpen(0),
	EMAValue(0),
	ForcePositionClose(0),
	PositionThisHour(0);

// ******************************

SetStopShare;

If Time > (LastBarTime+2) then
begin
HourlyOpen = OpenPrice;
LastBarTime = Time;
PositionThisHour = 0;
if marketposition <> 0 then ForcePositionClose=1;
end;

EMAValue = XAverage (Price, EMALength);

// *** Long Entry Order ***
If HourlyOpen > EMAValue and marketposition = 0 and PositionThisHour = 0 then
begin
Buy ("Long") (Equity+NetProfit)/OpenPrice Contracts next bar at (HourlyOpen + BreakOutValue) stop;
StopPrice = OpenPrice;
end;


// *** Short Entry Order ***
If HourlyOpen < EMAValue and marketposition = 0 and PositionThisHour = 0 then
begin
SellShort ("Short") (Equity+NetProfit)/OpenPrice Contracts next bar at (HourlyOpen - BreakOutValue) +1 point stop;
StopPrice = OpenPrice;
end;


// *** Set Profit Target and Stop Loss ***
if marketposition > 0 then SetProfitTarget (HourlyOpen+ProfitTarget);
if marketposition < 0 then SetProfitTarget (HourlyOpen-ProfitTarget);
if marketposition <> 0 then SetStopLoss (BreakOutValue);


// *** Time Stops ***
if marketposition < 0 and ForcePositionClose=1 then
begin
Buy To Cover ( "TimeSX" ) next bar at market;
ForcePositionClose = 0;
end;

if marketposition > 0 and ForcePositionClose=1 then
begin
Sell ("TimeLX") Next Bar at market;
ForcePositionClose = 0;
end;

if marketposition <> 0 then PositionThisHour = 1;

[Tams 20]

MultiCharts uses bar end time as reference.

 

The end time of one bar is the start time of another.