This strategy is for demonstrational purposes only and real-time trading is not advised.
This strategy contains two logical rules for entering a position and two for closing a position.
The closing rules are in the two slots named as “Closing Logic Condition”. Each of them can be either satisfied or not satisfied. The specific thing to note is that the software will close our existing position even if only one of the exit conditions is satisfied (regardless of the other). Therefore, exiting a position is different from entering where ALL of the conditions must be satisfied for the software to send a buy/sell order.
In this particular example we’ll enter long at the beginning if the bar when both of the following conditions are satisfied:
If any of the following two conditions is satisfied the program will close our position at the end of the bar:
If neither of these conditions is satisfied than the position will not close and will continue in the next bar.
The software will automatically calculate the logic for entering short based on our long entry rules we’ve set. Basically the opposite logic to the one set in the “Opening Logic Condition” applies:
The closing of the short position (like the closing of long ones) will happen if any of the set conditions is satisfied but this time the logic will be opposite to the one set in the fields because the closing rules we set apply for long positions only. That is why the program will automatically apply the opposite rules for closing short position (as it does for the opening conditions too):
It is also very important to know that the closing conditions are only available when we close a position at the end of a bar. That means we have to use “Closing Point of the Position” set to “Bar Closing” if we want to use such kind of conditions.
Forex Strategy Trader will allow you to set a maximum of two closing conditions.
If no exit conditions are selected the software will close any opened position when the price set in the “Closing Point of the Position” is reached. If however, there is even a single condition selected, the software will first check whether that condition is satisfied and if so it will then close the 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 when at least one of the following logic conditions is satisfied:
Close an existing short position at the end of the bar when at least one of the following logic conditions is satisfied:
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!