pomelov-yuriy wrote:
Does she force position closing?
How do you code that indicator??
]]>I think, there is no Day of the week exit indicator anymore, isn't it?
Hmmm !! I don't remember why, but Day of Week indicator is available as Opening Logic Condition only.
Was it available as exit condition before?
EDIT:
There is a Day of Week Exit indicator from Krog: http://forexsb.com/forum/topic/2228/day-of-week-exit/
]]>pomelov-yuriy wrote:
Does she force position closing?
How do you code that indicator??
]]>Does she force position closing? 
Taking krog's advice, I've set this to close the position several bars before the actual market close. This is the setting I now use when trading M1 timeframe, and I want it to close no later than 20:55 Friday afternoon (3:55pm ET, New York close).
]]>I use Day of Week Exit live to close all positions on Friday but it has to be used in conjunction with Day Closing 2 to specify the closing time.
Hey Spidey, I meant to ask you... you mentioned "Day Closing 2" once before -- what did you mean by this? I haven't done anything special with Day-of-Week-Exit (settings screenshot above) and it works just like I expected -- it allows other closing conditions to be added by Generator, but all positions are forcibly closed Friday before GMT 21 (OR logic).
I wanted to understand better what you meant, or how you are using this indicator, to see if its something I would want to try. Thanks
]]>But the surest method is use this indicator only for research, and be sure to monitor it on Friday afternoon and close manually.
I use Day of Week Exit live to close all positions on Friday but it has to be used in conjunction with Day Closing 2 to specify the closing time.
]]>But the surest method is use this indicator only for research, and be sure to monitor it on Friday afternoon and close manually.
]]>Hi dusktrader,
Could you check, is this with indicator "Exit Hour" or with "Day of Week Exit"?Just a guess, but it sounds like you are describing Exit Hour -- it is the closing point of the trade, and you cannot add other closing logic slots to it.
Yes I was referring to the "Exit Hour" indicator in my above post
Day of Week Exit -- add "Bar Closing" slot to the closing logic, then you can see Day of Week Exit indicator. Then, since it's with Bar Closing, you can add other closing indicators and change the logical groups; if they're different groups they should behave as logic "OR".
Awesome! I think this is exactly what I wanted. I get confused about when indicators appear and disappear ... I know there is a logical reason but I haven't quite grasped it yet. But, in my preliminary test, I believe this does exactly what I wanted: to allow Generator to come up with creative new closing strategies, while always forcing a Friday 4pm ET close (GMT 21).
I'm including a screenshot below of how I set this up in case others are also wondering. I just locked the "Day of Week Exit" condition while Generator runs.
For the periodicity indicator, I'm working at that now, hope I can get something posted soon.
Wow, that would be sweet! Thanks for looking into this. Especially for a day-trading bot, I think the more frequently that you can force an exit, the more opportunities you have to take good trade setups. I'm excited to try it out!
]]>Just a guess, but it sounds like you are describing Exit Hour -- it is the closing point of the trade, and you cannot add other closing logic slots to it.
Day of Week Exit -- add "Bar Closing" slot to the closing logic, then you can see Day of Week Exit indicator. Then, since it's with Bar Closing, you can add other closing indicators and change the logical groups; if they're different groups they should behave as logic "OR".
For the periodicity indicator, I'm working at that now, hope I can get something posted soon.
]]>this thread may have something you can use:
http://forexsb.com/forum/topic/2228/day-of-week-exit/
Thanks krog. I did read through this thread but I think this is still the same issue as before.
Please correct me if I'm wrong -- it seems that FSB can only have one closing point. I think what I'm looking for is a logic of OR --- so it could close at [Generated combination of conditions] OR [Exit Hour before GMT 21]
Through playing around with this, I have been able to generate several profitable strategies that trade M1 timeframe and use only that single closing point of Exit Hour. It works to accomplish what I want (ie, get out of the market by 4pm New York close each day) but I think the overall strategy misses additional opportunities that could be had (ie daytrading) if there were other closing conditions.
I do use Perm TP/SL/BE settings, so on occasion the strategy can get 2 or 3 trades in a single day. But trading on the M1 timeframe, seems like a strategy should be able to get many more trades throughout the day if it had an additional closing criteria.
Another thing that could be helpful is a closing point that would be adjustable by time increment. For example, instead of just "Exit Hour before GMT 21"... how about:
Exit at time:
minute bar close increment: 5, 10, 15, 30, 60
start hour: 0-24
end hour: 0-24
For example, if I set it to "15", then it could force a close every 15 minutes. This would allow positions to run for a max of 15 minutes and then reset to allow another entry. These settings would also give me the close by GMT 21 by default, since they would all trigger a close at the top of the hour.
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