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Forex Forum → Technical Indicators → Closing at "Week Closing " OR at "Bollinger bands"?

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1 (edited by filipsilvestre 2019-09-17 17:27:37)

Topic: Closing at "Week Closing " OR at "Bollinger bands"?

Hi,

Apologies for the question being a bit long winded and if it has been covered elsewhere, I’ve been trying to solve this issue for a while now but haven’t found a solution yet. My question is regarding the generation of strategies:

When additional closing logic conditions are added to the strategy, it appears that all of these conditions have to be satisfied in order to generate a closing signal. However, I was wondering if it was possible to put an “OR” operator in between each closing logic condition, so for example if I was using the “Closing Week” and “Bollinger bands” indicators as the closing logic conditions, I was wondering if it was possible for the strategies to close at the end of the week “OR” if the Bollinger band indicator is triggered, rather than strategies closing at the end of the week and when the Bollinger band indicator is triggered. In this example this would then mean that trading positions are closed at the end of the ween or when the Bollinger band indicator is triggered.

In the manual it says: “The function of the Closing Conditions is to trigger a close to the position. The fulfillment of any of the closing logic conditions will give a close signal (unlike Opening Conditions which must all be fulfilled in order to give open signal)”, so I would have thought this would not be an issue.

When I look at the overview for more details it appears that both conditions have to be fulfilled rather than any, while in the journal it appears that the strategy closed on a Thursday (2018-11-15) and then never closed at the end of the week so I am a bit confused about what is going on (see attached images).

Many thanks for taking your time reading this post, any help will be greatly appreciated.

Thanks,
Filip

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Re: Closing at "Week Closing " OR at "Bollinger bands"?

Long story short - closing point is week's close. It means that everything will happen at week's close. If you add additional conditions, then they will still be evaluated at week's close.

What you should be using is Bar Closing as closing point. Then it will work as you would expect.
See my screenshot.

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Re: Closing at "Week Closing " OR at "Bollinger bands"?

Footon's answer is excellent!

I'll only clarify that the exit conditions have always OR relation. It means that the above set-up will close:
- either when: The bar closes below Upper Band of BB
- or when: Day of Week is reached (we suppose it is set to Friday 19:00 or similar)

Be sure that you use H1 or smaller timeframe. On the other hand, on H4 timeframe the strategy may not close at 19:00. Why smile ?

Re: Closing at "Week Closing " OR at "Bollinger bands"?

Thanks a lot for your help and the quick replies!

I will give it a go, though I think I will need to update my indicators as I haven't done so for a while as I don't seem to have the "Day of Week Exit" indicator. I’ve been testing the demo version for a while now and so far it has produced some positive results.

Not sure entirely but I assume that on H4 timeframe the strategy may not close at 19:00 because 4 hour bar increments are too large?

Re: Closing at "Week Closing " OR at "Bollinger bands"?

I got the indicator now and managed to work out how to use it after a bit of trial and error but all works now just as I wanted, thanks a lot for all your help!

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