A full commentary to the script and FTSE analysis post can be found on the Backtest-Rookies website. To comply with house rules, I cannot post a direct link here.
The script must run on the 4H time frame…..Why? It is a quick and dirty implementation and it relies on entering a long position on the 4H bar before the market opens. This way the position will enter at the open of the market. (Since positions are always opening on the bar following an entry signal).
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.