Opening point of the position

The Opening point of the position slot is situated above the other indicator slots and under the Strategy properties slot.

There you can place an indicator which sets the entry price of the strategy. This price serves to open a new position and to add or cancel an already opened one.

In this slot, as well as in the other indicator slots, the long position logic is set. Forex Strategy Builder automatically applies the mirror short position logic.

There you can place indicators which set a certain entry price. Some of the indicators, which can be placed in this slot, specify the point of opening a position and set the time for execution of the entry order. Such indicators are: Bar Opening, Bar Closing, Day Opening и Entry Hour. Other indicators set the exact price of the order: Moving Average, Pivot Points, Bollinger Bands…

In the Opening point of the position slot you can place indicators which set the entry price. Indicators such as RSI or Accelerator Oscillator cannot be placed there. They do not set a definite price.

This slot's main function is to specify the entry price, not the direction of the position. Defining the direction of the position and giving permission to open a position is done by the Opening logic conditions slots. There are, however, exceptions to this rule. Some indicators specify two different entry points for the short and the long positions. With them, the direction of the position depends on the entry price which is being reached at the moment.

• Indicators specifying only one entry price are: Bar Opening, Day Opening, Entry Hour, Moving Average etc. They do not determine the direction of the position. With them, it is compulsory that you use the Opening logic conditions to determine its direction.

• Indicators specifying more than one entry prices are: Price Move, Stark Bands, Top Bottom Price…

Opening point of the position
    Indicator: Bar Opening
    Logic:     Enter the market at the beginning of the bar

In that case, Forex Strategy Builder will send two orders: Buy market entry order and Sell market entry order at the time of opening of the bar, at Open Price for the respective bar. Which one of the two orders will be executed entirely depends on the conditions specified in the Opening logic conditions slots.

Opening point of the position
    Indicator:  Price Move
    Logic:      Enter long after an upward move
    Parameters: Base price: Open, Price move: 20

This indicator sets two entry prices and, respectively, FSB will send two entry orders: Buy stop pending entry order at a price 20 pips over the Open price and Sell stop pending entry order at a price 20 pips under it. In that case, the execution of the orders will take place if the market price reaches the price of the order, and the conditions specified in the Opening logic conditions slots permit it.

Opening point of the position
    Indicator:  Pivot Points
    Logic:      Enter long at S2 (short at R2)
    Parameters: Base price: Previous bar range

This indicator also sets two entry prices but, in that case, they are more profitable than the opening price of the bar. Those orders are as follows: Buy limit pending entry order and Sell limit pending entry order.

• The indicator in the Opening point of the position slot sets the price for opening a new position, as well as for adding or taking from the current position;
• Indicators which can set a definite entry price are placed there;
• The indicator's logic sets the long position price;
• If there are Opening logic condition slots, the transaction will be closed if all Opening logic conditions are met;
• If there are no Opening logic condition slots, the transaction will be closed when the market price reaches the price of the entry order;
• If the price of the order is the same as the Open Price of the bar, Forex Strategy Builder will send a Market order for immediate execution;
• If the price of the order is different from the Open Price of the bar, Forex Strategy Builder will send a Stop pending order or a limit pending order.