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fsbpro_guide:closing_logic_conditions

Table of Contents

Closing Logic Conditions

Introduction

Closing Logic Conditions

The Closing Logic Conditions slots (Closing Conditions) are available only if you have selected Bar Closing (or similar indicator) in the Closing Point of the Position slot. These slots can contain logical condition indicators. To add a Closing Condition you have to click on the Add a Closing Logic Condition button. Any of those logical conditions is assessed separately for short and long positions and can either be fulfilled or not fulfilled. It is possible that the condition is fulfilled for a short position but not for a long one. In some cases, the condition can be fulfilled in both directions of trade at the same time (when using ADX for example).

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).

Examples

Example

In this example, the position will close at the Bar Closing price only if the Slow %D line of the Stochastics indicator crosses a certain level. Notice that the level mentioned is 20. This is the long position value. FSB Pro will automatically calculate the mirror short position logic. In the present example, the short position level is 80 (100 - 20).

Summary

  • The Closing Logic Conditions slots contain logic conditions which have two values: fulfilled or not fulfilled
  • To close a position in a given direction, at least one of the conditions needs to be met
  • The maximum number of the exit Closing Logic Conditions is eight
  • These conditions are available only if the exit price is Bar Closing, or similar indicator
  • If there are no logic conditions, the position closes every time the close price is reached
  • A position closes at the price set in the Closing Logic Conditions slot