The Exit Rules are the Rules dedicated to modify orders during their lifetime. The related market order has to be opened.
Exit Rules can be assigned to an Entry Rule or can be assigned by the user by drag&dropping it on an opened order during the Backtest.
Similarly to the Setup Rules, the Exit Rules are divided in two parts :
- The Exit Condition : the condition defined by the User which will be checked by the Software on every new Bar printed on the Charts.
- The Actions : the action to perform when the previous condition is filled
Empty Exit Rule :
The Exit Condition
The Exit Condition is composed by at least one Conditional Core Rule. The expression has to return True or False.
Thus, a Exit Condition can be filled with any type of Rule if the overall expression is a condition :
- Default Rules, composed by one or more Conditional Core Rules
- User Rules, returning a condition (ex: 2 Value Core Rules comparison will return True or False)
In order to assign a Default or User Rule to a Exit Condition, you have to drag&drop the related Rule.
The Exit condition does not mean that the Order will be automatically exited because the Actions can modify the current Market Order as well (or close it).
Example of Exit Condition (when the Market Order is reaching more than 1% growth, ie. 1R) :
The Actions are the modification to perform on the opened Market Order. You can use only one kinds of Rules in the Actions : the Default Order Modification Rules.
Then, you can only conduct 3 actions :
- Modify the current order
- Close the current order
- Close partially the current order
In order to assign a Rule to an Action, you have to drag&drop the related Rule.
Example of Exit Rule to design the 3 Bars Trailing Exit concept (for a SELL order):