Topic: Difficulty understanding logic
I'm having difficulty understanding the written logic for some of the generated strategies.
"Opening (Entry Signal)
Open a new long position or reduce a short position at the Upper Band of Keltner Channel* (Simple, Close, 20, 10, 2) when the following logic condition is satisfied:
the position opens below the closing price of the previous bar."
What does it mean by "position opens below the closing price of the previous bar" ? I don't understand what "position" refers to in FSB as it seems to be used in a different way to how most people talk about open positions (ie ongoing trades).
And when it says "at the Upper Band" does it mean when the market price reaches the previous bar's Keltner Channel Upper Band value ?