Closing point of the position

The Closing point of the position slot is situated under the Opening logic conditions slots.

In this slot you can place an indicator which sets the exit price of the strategy. This price serves to close an already open position. You cannot open a new position at this price.

Here, you can place indicators which set a certain exit price.

Some of the indicators which can be placed in this slot specify the point of closing a position and set the time for execution of an exit order. Such indicators are: Bar Closing, Day Closing, Week Closing and Exit Hour.

Other indicators set the exact price of the order: Moving Average, Pivot Points, Bollinger Bands…

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

We can divide the closing indicators into two groups, depending on how many exit prices they set:

• Indicators specifying only one entry price are: Bar Closing, Day Closing, Exit Hour, Moving Average etc. The position is closed when these indicators' price is reached, irrespective of the position's direction.

• Indicators specifying more than one entry prices are: Price Move, Stark Bands, Top Bottom Price… With these indicators there are different points for closing a short and a long position. It is the indicator's logic which determines the price at which each position can close.

When the Closing point of the position slot contains the indicator Bar Closing, you can also use Closing logic conditions. In that case, the position will close at Close Price of the bar, but only if at least one of the exit logic conditions is met.

The Close and Reverse indicator is an exception. It does not set the exit price of a strategy. Instead, it makes it “reversive”. When using this logic, the additional opposite direction signals adopt a Reverse behaviour. The price at which the position can be reversed is the entry price, set in the Opening point of the position slot.

Closing point of the position

   Indicator:  Bollinger Bands
   Logic:      Exit long at the Down Band
   Parameters: Smoothing method: Simple, Base price: Close, MA period: 20, Multiplier: 2

There are two exit prices:

• long positions will close when the market price reaches the bottom Bollinger margin;
• short positions will close when the market price reaches the top Bollinger margin.

Closing point of the position

   Indicator:  Parabolic SAR
   Logic:      Exit the market at PSAR
   Parameters: Starting AF: 0.02, Increment: 0.02, Maximum AF: 2

Here, the position will close when the PSAR point of the current bar is reached. The Parabolic SAR indicator can set the direction in which a position opens. This is an exception. It is the only indicator which has an entry logic condition when placed in the Closing point of the position slot.

Closing point of the position

   Indicator:  Bar Closing
   Logic:      Exit the market at the end of the bar
   Parameters: Base price: Close

Closing logic condition

   Indicator:  Moving Averages Crossover
   Logic:      The Fast MA crosses the Slow MA downward
   Parameters: Base price: Close, Fast MA period: 13, Slow MA period: 21...

There is only one exit logic condition here. The position will close if the fast MA crosses the slow MA in the right direction. If no crossing of MA occurs, the position will not close.

• The indicator in the Closing point of the position slot shows the closing price of an already existing position;
• Indicators which can set a definite exit price can be placed here;
• If the indicator sets a single exit price, it applies to both, long and short positions;
• If the indicator sets two exit prices, its logic determines which position can close at which price;
• If there are no exit logic conditions, the position closes when the closing price is reached;
• If there are exit logic conditions, the position closes at Close Price of the bar but only if at least one of the exit logic conditions is met;
• Close and Reverse does not set an exit price. It makes the strategy “reversible”. Reversing takes place at entry price.
• If the exit price is Bar Closing, the exit order is Market Order. You cannot make use of Pending Order, because there is no way to know in advance what the closing price of the bar is.