Online help system - Close and Reverse
Close and Reverse
Introduction
Close and Reverse is not a technical indicator, but additional logic.
We can set Close and Reverse logic in the Close Slot only.
Using it, there isn't specified Close Strategy, and the Open Strategy
closes the position itself.
When during in a position, the Open Strategy logic gives a signal with a direction opposit
to the position's direction, a new order will be send with a number of lots greter than the position's lots by one.
This leads to closing the position and opening a new one, but in the opposite direction.
By setting the Close and Reverse in the Close Slot, we give a permition to Open Strategy
to reverse the current position when an opposite signal arises.
Calculation
No additioanls calculations are necessary. The Open Strategy gives the open and reverse signals.
Parameters
The Close and Reverse logic doesn't require any parameters.
Usage
Let see how the Close and Reverse works in the following example:
[Open] Price Open
[Filter] MACD
Logic The MACD Line crosses the zero line from below.
Smoothing Method Exponential
Base Price Close
Period Slow Line 26
Period Fast Line 12
Period Signal Line 9
Use previous bar value. True
[Close] Close and Reverse
We see here the Open Strategy sends a signal every time when the MACD Line crosses the zero line. Because of that, we are in a position all the time, the logic closes the existing position and opens a new oposite one.
