I understand the EAS doesn't have any Longer Time Frame Feature
I would like to suggest that to add Condition/Rule Setting Options (something like acceptance criteria) but these settings are applied to Rule/Conditions settings.
In this Condition/Rule Setting Option, we have the feature "Min (bar) and Max (bar).
1 Hour = 1min x 60 Bars
4 Hour = 1min x 240 Bars
So if we can set the criteria for each opening rule, we can introduce "Longer Time Frame" feature into the Strategy and have greater control over the types of Strategies being generated and thus improve our search quality.
As we know in discretionary trading, we look at various time chart before we determine when to enter into an open position.
Likewise, Strategies that incorporate Longer Time Frame take advantage of the importance of looking at the market through various perspective.
So if we can set different Min and Max Bar(s) for each Opening condition/rule (there are max 4 opening conditions allowed), we can therefore let EA Studio search for different trading criteria/rules.
For example, I would like to search for Opening conditions/rules for 1min, H1 and H4 (in a 1min time chart)
So in the Condition/Rule setting options, this is what I can set (using 1min data/time chart):
Opening Condition 1: Min (bar) = 1 and Max (bar) = 30 (i.e. I'm looking for favourable opening conditions between 1 to 30min time frame
Opening Condition 2: Min (bar) = 60 and Max = 120 (i.e searching for favourable opening conditions between 1 to 2 hours)
Opening Condition 3: Min (bar) = 240 and Max = 480 (i.e. searching for favourable opening conditions between 4 to 8 hours).
if I think I want another open condition to focus on short term range or let EAS decide, then I can set the 4th condition as below:
Open Condition 4: Min (bar) = 1 and Max = 1440 (i.e. to search for favourable opening conditions on an overall daily outlook).
And for Closing Rules, if we can also Control what duration of closing we have, we also change the quality of search for opening rules. If I choose a shorter duration setting for closing, then I think the software will then look for intraday or scalper type of EA and if I choose to have a longer duration setting for closing, then I think we would likely cause the software to search for bigger trend indicator setting in the opening conditions.
Our Closing duration influence our Opening search same as Stop Loss, if we have small/tight Stop Loss, then the software would look for scalper or intraday strategies. If we have bigger Stop loss margin, then our search would end up with longer or strong trend settings.
Close 1: Min (bar) = 1 and Max = 480 (ie. search for the most favourable closing outlook within 8 hours)
Close 2: Min (bar) = 1 and Max = 2880 (i.e. search for the most favourable closing outlook within 2 days)
As we know at the end of the breakout trend, the price hover over some side way trending for a couple of days before it starts a change direction, so setting a longer Max bar allows the software to search what's the most favourable time to close a breakout position.
Thus the ability to control the Min and Max Bar in our search/condition setting (open and close), would have a great implication on the types and quality of strategies being generated and hence increase our likelihood of success.
Currently, for 1min Time Chart, I noticed the default max bar is only 200 and for a 1 Min Time chart, 200 bar is very very short term and it's hard to develop robust EA with such tight and short bar limitation.
So in order to work around this limitation, I had to manually build the EA using the Optimizer feature and from there, I can control the min and max bar allow. Such method is tedious as I have to search manually, changing indicator one by one. So with a Rule/condition Setting option, I can automate this process and have greater control on the types and quality of Strategies being generated.
Here is a screen shot of the quality of Strategy I manually develop and it has very high Profit Per Day ($78.78 per day with 1 lot size) and Profit Factor (2.78) that normally hard to get if we use the Generator without the option to control the min and max bar for each rules. And Net Profit $38,141 for 16mths duration with an average profit of $2383 per mth (1 lot size).