Extra Exit Conditions
In this page, you will learn about the settings in the ‘Extra Exit Conditions’ section.
The ‘Take Profit %’ and ‘Stop Loss %’ functions are discussed in-depth on the ‘Exits’ page.
The other conditions in the ‘Extra Exit Conditions’ section involve Support/Resistance lines. If you would like to learn more about how to plot these on the chart and change the settings, please refer to the ‘Support/Resistance Settings’ page where this is explained in-depth.
The 4 possible Support/Resistance options for this section are:
- Exit when price closes below support - Exits the trade when price closes a candle below the most recent support. Meant to be used for longs.
- Exit when prices breaks support on volume - This is difficult to explain in words so here is the code if you want to understand it. It is the ‘support_broken’ variable. Meant to be used for longs.
- To visually see the breaks, you can toggle on the ‘Plot Breaks Support and Resistance Lines’ option at the bottom of the indicator, and look for candles that have a Red ‘B’ plotted above them.
- Exit when price closes above resistance - Exits the trade when price closes a candle above the most recent resistance. Meant to be used with shorts.
- Exit when prices breaks resistance on volume - This is difficult to explain in words so here is the code if you want to understand it. It is the ‘resistance_broken’ variable. Meant to be used with shorts.
- To visually see the breaks, you can toggle on the ‘Plot Support and Resistance Lines’ option at the bottom of the indicator, and look for candles that have a green ‘B’ plotted above them.
Alerts & Automation