Hi, I am new to Wealth Lab and would appreciate some help in constructing a strategy. Here is what I want to do:

If three 5 minute candles in a row close higher than the previous candle, buy QLD (ETF).
When 3 five minute candles in a row close lower than the close of the previous candle, sell and then buy an ETF that essentially shorts the market - QID (this ETF should also have had 3 five minute candles in a row that were higher than the close of each previous candle).

Continue the above cycle.

I tried this with WLPro but results didn't make sense:

Buy market with 3 bullish white soldiers.
Sell at market with 3 bearish black crows.

I put each symbol in one folder and then told WLP to 'backtest on all symbols'.

When I look at the charts, however, sometimes the signals identified correctly but many times they did not. On many days there might be, say, one '3 bullish white soldiers' but looking at the chart there should have been 4; and maybe there were no '3 bearish black crows' where looking at the chart there should have been 2.

Any help would be appreciated.

Michael

Hi,

For sure, the results produced by the wizard will not make any sense. Pair trading and the like can not be constructed using Strategy From Rules and can only be accustomed via code. Several pointers exist on the forum and in "Strategies & Trading". The closest example is this particular Strategy:

ActiveTrader 2011-05 | Inverse ETF switching system