This filter only exists as a Sell Filter.
It will automatically exit any Positions that have been held for a certain period.
This filter is preferably used when the strategy is set to “Continuously Switch Position”. The idea is that you don't want to hold on to current positions for too long and miss out on better positions out there (based on the Ranking Rules).
So in essence, applying this filter gives you the best of both worlds between “Continuously Switch Positions” and “Periodically Switch Positions”.
This filter has only one parameter, which defines the maximum duration a Position can be held.
You may use this filter on a Periodically Switching strategy. Let's say to avoid an instrument getting selected over and over again (as a Position) through many switch days.