• Overview
  • Reviews (1)
  • Comments

Exit with Trend Line

The Exit with Trend Line is a program for closing trades after the price crosses a custom trend line. Used for closing trades based on inclined support and resistance levels.

Specify in parameters the name of the trend line, crossing type (bottom-up or top-down), price type (see next), type of orders (buys or sells) or trade ticket. As soon as the specified crossing occurs, the robot closes the required trades.

Input Parameters

  • Name of Trend Line - name of the trend line.
  • Mode – mode of determining the trades for closing. Possible values (drop-down list):
    • Ticket - ticket (the ticket itself is specified in the next parameter);
    • Buys - market buys;
    • Sells - market sells.
  • Ticket of Trade - ticket of a specific trade. Used only if "Mode" is set to "Ticket".
  • Type of Relation for Exit - type of price location relative to the level for closing trades. Possible values:
    • Above Value of Line - above the line value.
    • Below Value of Line – below the line value.
  • Price for Exit – price type for closing trades. Possible values:
    • Current Price (Bid) - current Bid price;
    • Open Price of current Bar - opening price of the current bar;
    • Close Price of previous Bar - closing price of the previous bar;
    • Open Price of previous Bar - opening price of the previous bar;
    • High Price of previous Bar - High price of the previous bar;
    • Low Price of previous Bar - Low price of the previous bar;
    • Median Price of previous Bar, (h+l)/2 - median price of the previous bar, (high+low)/2;
    • Typical Price of previous Bar, (h+l+c)/3 - typical price of the previous bar, (high+low+close)/3;
    • Weighted Price of previous Bar, (h+l+c+c)/4 - weighted closing price of the previous bar, (high+low+close+close)/4;
  • Maximal allowed Deviation – level of maximum allowed price deviation in case of requotes;
  • Language - Expert Advisor language. Possible values (drop-down list):
    • EN - English (default);
    • RU - Russian.

Attention! The product is designed to operate in real time, as it does not open trades but only maintains them.

Special operation mode is provided for the tester: at startup, if there are no open trades, a trade of the type set in the product parameters is opened. Besides, the utility works in the tester only if visual testing is used. Otherwise, user cannot apply a necessary trend line to the chart window.

Richard Caughell
2016.08.15 16:02 

Solid tool for helping to manage open positions.