07 May 2019
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This code snippet demonstrates how to implement exit strategies in trading algorithms using the ProBuilder language. It includes conditions for exiting both long and short positions based on trade duration, performance, and RSI indicators.
//EXIT ZOMBIE TRADE
EZT = 1
if EZT then
IF (longonmarket and barindex-tradeindex(1)>= b1 and positionperf>0) or (longonmarket and barindex-tradeindex(1)>= b2 and positionperf<0) then
sell at market
endif
IF (shortonmarket and barindex-tradeindex(1)>= b3 and positionperf>0) or (shortonmarket and barindex-tradeindex(1)>= b4 and positionperf<0) then
exitshort at market
endif
endif
RSIexit = 1
if RSIexit then
myrsi=rsi[r](close)
if myrsi1 and longonmarket and close>positionprice then
sell at market
endif
if myrsi>r11 and barindex-tradeindex>1 and shortonmarket and close The code snippet above is divided into two main parts, each implementing a different exit strategy for trading positions:
- Zombie Trade Exit: This part of the code checks if a trade has become a "zombie" (inactive or not profitable) and decides whether to exit the trade. Variables b1, b2, b3, and b4 are thresholds for the number of bars since the trade was opened. The trade is exited based on the duration and whether the position is profitable or not.
- RSI-based Exit: This section uses the Relative Strength Index (RSI) to determine exit points. The RSI is calculated with a period r, and exit conditions are checked based on RSI levels rl and r11. If the RSI is below rl for a long position or above r11 for a short position, and other conditions such as trade duration and position price are met, the trade is exited.
Each block of code is wrapped in an if statement that checks a flag (EZT or RSIexit) to determine whether the corresponding exit strategy should be applied. This allows for easy activation or deactivation of each strategy.
Related Post
Check out this related content for more information:
https://www.prorealcode.com/topic/exit-codes-snippets/#post-190343
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