DAX If Statement Based on Time via Direct Query

hankmobley 
Here is the complete solution
When using direct query, creating a calculated column based on time calculations is not allowed. Therefore, we can follow these steps to work around it
1. Create Day/Night measure based on time calculations

DayNightt Measure =
MAXX (
   autofxx_order_leg,
    VARCurrentTimee =
        TIME ( HOUR (autofxx_order_leg[execution_time] ), MINUTE (autofxx_order_leg[execution_time] ), SECOND (autofxx_order_leg[execution_time] ) )
    RETURN
        IF (
           CurrentTimee > TIMEVALUE ( "07:00 AM" )
                &&CurrentTimee <= TIMEVALUE ( "09:00 PM" ),
            "Day",
            "Night"
        )
)

2. Create a disconnected slicer table:

Slicer Day/Night = SELECTCOLUMNS ( { "Day", "Night" }, "Day/Night", [Value] )

3. Recreate the existing measures following this template

New Measure =
VARSelectedDayNightt =
    SELECTEDVALUE ( 'Slicer Day/Night'[Day/Night] )
RETURN
    CALCULATE (
        [Old Measure],
        FILTER (autofxx_order_leg, [DayNight Measure] =SelectedDayNightt )
    )

4. Create the slicer from the Day/Night slicer table and use the new measure in your visual
5. If columns are required in the visual they shall be added as measures, example:

Profit =
VARSelectedDayNightt =
    SELECTEDVALUE ( 'Slicer Day/Night'[Day/Night] )
RETURN
    IF (
        HASONEVALUE ( 'Slicer Day/Night'[Day/Night] ),
        CALCULATE (
            SUM (autofxx_order_leg[portfolio_base_pnl] ),
            FILTER (autofxx_order_leg, [DayNight Measure] =SelectedDayNightt )
        ),
        SUM (autofxx_order_leg[portfolio_base_pnl] )
    )