Currently, this is not possible. But in the future version, a filter can be added.
All data is looked into when you select a time range but I cannot elaborate on the backend process,
Our backtest result is the closest approximation of a real trade but there will be some difference of course but this is not because of time only. For example, if 50 traders place a market order on the same contract at 9:15-20 AM, there is a high probability that the prices they receive will vary even if it gets executed at the same time, unless there is one large order on the other side with the same price which is able to absorb all the 50 orders. The slippage on a lot of stocks can be much less. This is why you can consider a minimum of 2-3% of slippage on the backtest results. That is a conservative assumption.
Refer to the following link to understand the issues with LTP-based triggers.
Yes, auto-order placement unfortunately is not possible at this point of time.