Topic: Previous bar closing entry point
Hello!
If entry point = Previous bar closing, when indicators at Opening Logic Condition use Previous bar closing value or 2-bars ago closing value?
- footon
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Re: Previous bar closing entry point
They use previous or current value depending on the necessity of previous bar value usage, they do not use values 2 or more bars back. Previous bar closing marks the entry price - if it remains untouched, no position will be opened.
3 2019-07-07 08:40:09 (edited by Finmod123 2019-07-07 08:40:58)
Re: Previous bar closing entry point
Thanks!
As far as I understand "Bar closing time advance in seconds" doesn't apply in this case.
And the position may open if price will touch the 'previous bar closing price' during next bars....
- footon
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Re: Previous bar closing entry point
FSB has nothing to do with "Bar closing time advance in seconds", it applies to trading, you set it if necessary in the EA because in MT every last price tick is a bar close price, so the actual bar close has to be anticipated.
"And the position may open..." part is not entirely correct. You see, we look at it or rather the program looks at it at one bar at a time basis. For example, if for current bar entry price is satisfied (price touches previous close) AND conditions are satisfied, it opens a position. For a new bar there's a new entry price and condition evaluation, what happened during previous bars in regard to entry price and conditions does not matter.