Yes it does because of the DEFPARAM CUMULATEORDERS = FALSE. This means that once a trade is opened it is impossible to open any more trades in either the same direction to add to your position or in the opposite direction which would close your open trade. So once a trade is opened with this set to false the only things that can close the trades are your exit conditions or stop loss and take profit levels if you have them.

Remember that when writing a strategy you can also use the following useful conditions: