Yes it is.
See more info in the User Guide: Closing Point of the Position

Close and Reverse

The Close and Reverse indicator is an exception. It does not set the exit price of a strategy. Instead, it makes it “reverse” its direction. When using this logic, the additional opposite direction signals won't close the position but reverse its direction. The price at which the position can be reversed is the entry price, set in the Opening Point slot.

See the Demo MACD Reversal strategy included in the distribution:

Close and Reverse

The Close and Reverse indicator is an exception. It does not set the exit price of a strategy. Instead, it makes it “reverse” its direction. When using this logic, the additional opposite direction signals won't close the position but reverse its direction. The price at which the position can be reversed is the entry price, set in the Opening Point slot.