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I'm a discretionary trader so no algo for me .... I use atr to determine sideways market and I usually just sit out sideways unless it's a swide range that I can clearly define, trending markets are just a much easier way to make money so I just sit around and wait for that now. Are you algo trading ?
Makes sense I have been backtesting it I think you may be right it's long enough that if your right you'll get followthrough but short enough that you can keep the risk per trade manageable with size ... it appears to be the sweet spot between the 1 min (too noisy) and 5 min(miss potential trades)
