Defining Exit Conditions
After you’ve added an Entry, you need to decide when to exit the positions — or “when to sell” — by setting Exit Conditions.
- The most obvious option is adding another “Script” (e.g. the same kind of multi-line conditions as the Entry Condition).
- Another option is “X Candles Passed”, which exits the position after given period of time (e.g. “5 candles”). This is not very useful for real trading conditions, but we’ve added it for research purpose only (e.g. when you’re willing to focus on exploring Entry Condition only).
- “Take Profit” exits when your position gains more than X%.
- “Stop Loss” exits when your position loses more than X%.
You can use any combination of these conditions.
For example, you may exit the position when the SMA 20 crosses down through SMA 50 and implement a 2% stop-loss.