Closing Point of the Position

The Closing point of the position slot (Closing Point) is situated under the Opening logic conditions slots.

In this slot you can place an indicator which sets the exit price of the strategy. This price is used to close a position. You cannot open a new position at this price.

Here, you can place indicators that would determine a certain exit price.

You can also choose a certain time for closing the position using indicators like: Bar Closing, Day Closing, Week Closing and Exit Hour.

Other indicators that set the exact price of the order are: Moving Average, Pivot Points, Bollinger Bands etc.

In the Closing Point slot you can only place indicators which set a certain exit price. Indicators such as RSI or Accelerator Oscillator cannot be placed here because they don't give a price.

We can divide the Closing Point indicators into two groups, depending on how many exit prices they set:

• Indicators specifying only one entry price are: Bar Closing, Day Closing, Exit Hour, Moving Average etc. The position is closed when these indicators' price is reached, regardless of the position's direction
• Indicators specifying more than one entry price are: Price Move, Stark Bands, Top Bottom Price etc. These indicators set different points for closing a short and a long position. It is the indicator's logic that determines the different closing prices for long and short positions

When the Closing Point slot contains indicators like Bar Closing, Day Closing etc. you can also use Closing Logic Conditions. In that case, the position will close at Close Price of the bar, but only if at least one of the exit logic conditions is met.

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.

In this example there are two exit prices:

• long positions will close when the market price reaches the low Bollinger band
• short positions will close when the market price reaches the upper Bollinger band

Here the position will close when the PSAR point of the current bar is reached. The Parabolic SAR indicator can set the direction in which a position opens. This is an exception. It is the only indicator which has an entry logic condition when placed in the Closing Point of the Position slot.

There is only one exit logic condition here. The position will close if the fast MA crosses the slow MA in the right direction. If there is no crossing of MA, the position will not close.

• The indicator in the Closing Point of the Position slot shows the closing price of an already existing position
• Indicators which can set a definite exit price can also be placed here
• If the indicator sets a single exit price, it applies to both, long and short positions
• If the indicator sets two exit prices, its logic determines which position can close at which price
• If there are no exit logic conditions, the position closes when the closing price is reached
• If there are exit logic conditions, the position closes at Close Price of the bar but only if at least one of the exit logic conditions is met
• Close and Reverse does not set an exit price. It makes the strategy “reverse”. Reversing takes place at entry price