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