Exit Rules
The strategy can include custom long/short orders exits rules. These can be created in a similar way than entry rules by using two available conditions, and can evaluate price action features as well as the output of external indicators on your chart.
Price Action Conditions
Conditions Exit Long 1 and Exit Short 1 allow using conditions from market structures, volumetric order blocks, and imbalances.
The first dropdown includes options: Bullish and Bearish and determines the origin of the selected condition in the second dropdown.
The second dropdown includes the list of price action related conditions, these include:
| Condition | Description |
|---|---|
| CHoCH or BOS | Triggered on a change of character or break of structure |
| CHoCH | Triggered on a change of character |
| BOS | Triggered on a break of structure |
| Mitigated OB | Triggered once price mitigates an order block |
| Within OB | Triggered if price is within the area of an order block |
| Entered OB | Triggered once price enters the area of an order block |
| Entered Imbalance | Triggered once price enters the area of an imbalance |
| Within Imbalance | Triggered if price is within the area of an imbalance |
| Mitigated Imbalance | Triggered once price mitigates an imbalance |
External Conditions
Conditions Exit Long 2 and Exit Short 2 allow the user to use the output of external indicators on the chart as input for setting exit conditions.
These allow setting a condition based on two different external indicators output, with The first and third dropdowns determining which external output to use.
The second dropdown determines which conditional operator to use on both external outputs. These include:
- Greater Than
- Lower Than
- Equal
- Crossing Over
- Crossing Under
- Crossing
Using Conditions Together
More complex exit rules can be created by using multiple conditions together, this is done thanks to the Step dropdown setting on the right of each condition (below each condition for Exit Long 2 and Exit Short 2).
The Step setting is directly related to the Step & Match algorithm and work in two ways:
- When two or more conditions have the same step number, both conditions are evaluated. Used to test matching conditions.
- When two or more conditions have different step numbers, each conditions will be evaluated in order, testing for the first step and switching to the next step once the previous one is true. When the final step is true the strategy will open a market order. Used to create sequence of conditions.
This operation is complementary, as you can create a sequence of conditions with one step consisting of two or more matching conditions as long as they have the same step number.
Time Exits
Time exits allow users to exit trade from a specific time of the day. Note that trades are still exited at the opening of the next bar.
The timezone is the same as the one of the chart symbol.
Partial Exits
Users can exit a percentage of an existing position by specifying a percentage lower than 100%. This can lead to sequential exit, with reduced exposure each time an exit is triggered.
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