Create and Test Forex Strategies
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eas-guide:exit-rules [2016/08/05 11:21] – created Miroslav Popov | eas-guide:exit-rules [2020/12/11 09:55] – Ilan Vardy | ||
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====== Exit Rules ====== | ====== Exit Rules ====== | ||
- | The Exit Rules of EA Studio | + | The Exit Rules are responsible for closing positions. There are only three possible points for closing a position: at Stop Loss, at Take Profit and at Bar Open. Since the Stop Loss and Take Profit are part of the Expert Properties |
- | + | ||
- | Let's see several examples: | + | |
===== No Exit Rule Indicators ===== | ===== No Exit Rule Indicators ===== | ||
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</ | </ | ||
- | When you create a new expert, the program starts without | + | When you create a new strategy it will contain no Exit rules and that is a perfectly valid exit condition. If there are no Exit rules the strategy will close all positions at the next Bar Open. This is indicated |
===== One Exit Rule Indicator ===== | ===== One Exit Rule Indicator ===== | ||
- | You can add Exit Rules indicators by using the "Add a new exit rule" | + | You can add Exit Rules indicators by using the **+ Add a new exit rule** button at the bottom |
- | All of the indicators | + | All of the indicators |
<WRAP group> | <WRAP group> | ||
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The example above shows one Exit Rule indicator – Bollinger Bands, with a logical rule: "The bar opens above Upper Band". | The example above shows one Exit Rule indicator – Bollinger Bands, with a logical rule: "The bar opens above Upper Band". | ||
- | The condition "The bar opens above Upper Band" can be either true or false. If you have an open long position and it happens | + | The condition "The bar opens above Upper Band" can be either true or false. If you have an open long position and a situation occurs where that the current bar opens above the upper Bollinger band, the strategy |
Let's now imagine that we have a short position and the bar also opens above the Upper band. The rule in the indicator slot is satisfied for a long position, but it is not satisfied for a short one because your rule for short positions follows the opposite logic. If we have to put it explicitly: close short when "The bar opens below the Lower Band". Because we are short and the exit rule doesn' | Let's now imagine that we have a short position and the bar also opens above the Upper band. The rule in the indicator slot is satisfied for a long position, but it is not satisfied for a short one because your rule for short positions follows the opposite logic. If we have to put it explicitly: close short when "The bar opens below the Lower Band". Because we are short and the exit rule doesn' | ||
- | ===== Two Exit Rules ===== | + | ===== Multiple |
- | When there are more than one Exit Rules, the program closes a position at Bar Open when at least one of these rules is satisfied. This is a key difference between the Entry and the Exit Rules. The program is very sensitive when it decides to close a position. | + | When there are multiple |
<WRAP group> | <WRAP group> | ||
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</ | </ | ||
- | Let' | + | Let' |
~~DISQUS~~ | ~~DISQUS~~ | ||