This strategy is for demonstration only and real-time trading is not advised.
This strategy uses several “Opening Logic Condition” slots. Each of the slots contains one logical condition for entering the market and the possible outcome for each is either being satisfied or not (calculated for both long and short entry although we enter only long entry rules – the program calculates opposite short entry rules automatically).
Forex Strategy Trader will open a position when the market reaches the indicator's price used in the “Opening Point of the Position” slot and all the “Opening Logic Condition” are true.
In this sample strategy the price at which we enter the market is the first price of the bar or the “Bar Opening” price (as set in the “Opening Point of the Position” slot of the strategy screen). However, before we actually buy or sell all the other entry rules (in the following green slots) must be satisfied, both for long and short positions.
So to break it down - at the beginning of each bar the software checks for the following:
When opening short position the software checks for the same conditions but using the opposite logic:
Basically all the “Opening Logic Condition” slots are our entry filters that set the logic for entering the market long or short. The thing to note is that ALL of the entry conditions must be satisfied for the FST to open a position.
Opening (Entry Signal)
Open a new long position at the beginning of the bar when all the following logic conditions are satisfied:
Open a new short position at the beginning of the bar when all the following logic conditions are satisfied:
Closing (Exit Signal)
Close an existing long position at the end of the bar.
Close an existing short position at the end of the bar.
Handling of Additional Entry Signals
Entry signal in the direction of the present position:
Entry signal in the opposite direction:
Always trade a constant number of lots.
The strategy doesn't use a Permanent Stop Loss.
The strategy doesn't use a Permanent Take Profit.
* Use the indicator value from the previous bar for all asterisk-marked indicators!