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Forex Software → Technical Indicators → Exit after X-Bars indicator?
Hello,
Can someone code a simple exit after X-Bars exit-signal or does this needed to be implemented by Popov? I always found a simple exit after X-Bars very effective in my Tradestation-strategies. Additional I´ve used different values for when the position is in profit or loss. So the indicator could exit after 20 bars if the trade is in profit or after 10 bars if the trade is in loss. Hope that can be coded by someone.
I would also like to see this.
Geektrader, have you solved this code? There is always a "edge" on the timing and I am sure u will earn some pips if u can code this.
Pls let me know!
Regards,
Love
It is similar to the request for a trailing stop or trailing profit from this thread:
http://forexsb.com/forum/topic/1489/tra … ing-logic/
The custom indicator does not have access to position info (like opening bar, closing bar, or current profitability) from FSB. For this case, it means it would not know when the position was opened, so would not be able to count to X bars to exit. One workaround that could be possible is to code a "Super Custom" closing indicator that simulates your strategy's openings by including all of the strategy's opening indicators (either instantiated or copied and pasted in), so would be able to count to roughly X bars. But you would need one closing indicator per strategy per set of parameters, and there's a high risk of changing a parameter in the strategy but forgetting to change the line of code in the closing indicator, resulting in mismatched and unexpected signals, so it's not really practical.
I agree. I also want this option for exit.
If my strategy is correct, after entering the market, price should follow the direction as you set within a few bars and be profitable. Otherwise (after X-bars from the entry, but still not profitable) the strategy is not valid to the current market, & I should close the position immediately and wait for the next chance.
I also want the option of 'on winning trade' & 'on losing trade' for the logic for exit.
Then you can set the conditions for closing like this.
"if the trade is losing & if ADX falls, then close the position"
"if now is after X-bars from entry & if the trade is losing, then close the position" etc.
Guys, your request has been noted and added to the WISH list:
http://forexsb.com/forum/post/5246/#p5246
Thank you 
Forex Software → Technical Indicators → Exit after X-Bars indicator?
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