Say you have a simple system like a MACD cross.
Run it on 5 minute bars of a liquid instrument like a futures contract. The equity curve will be as choppy as anything, but within that will be some significant run ups.
Then apply a filter for the the equity curve, or manipulate the position...
I'm quite interested in this method to manage a portfolio of strategies. This one is quite elaborate, it can be done manually, or coded as an indicator.
Very little really written about these.
I use an indicator based switch for my intra-day strats.