Exits
In this page, you will learn about how Exits work in the StratBuilder.
What Triggers Exits in the StratBuilder?
There are 3 ways StratBuilder can exit a trade.
.1Any ‘Exit’ condition is met upon bar closure
.2The ‘take profit’ is hit
.3The ‘stop loss’ is hit
1. Any ‘Exit’ condition is met upon bar closure
On most of the conditions in the StratBuilder, there is a checkbox on the side labeled ‘Exit’.
If a condition has the ‘Exit’ checkbox checked, then the StratBuilder will exit the trade once that condition is met upon bar closure. If there are multiple ‘Exit’ conditions in a strategy, then ANY condition that is met upon bar closure will exit the trade. Let me repeat that, if ANY ‘Exit’ condition is met upon bar closure, the StratBuilder will exit the trade.
There are also other options for exit conditions other than the ‘Exit’ checkbox next to the condition, like the exits based on divergences, and the exits based on support/resistance. These behave the same as the ‘Exit’ checkboxes, in that they are just another condition that can be met in order to exit a strategy.
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2. The ‘Take Profit’ is hit
There is a section named 'Extra Exit Conditions' towards the bottom of the indicator. There, you will find an input for ‘Take Profit %’.
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If the checkbox next to ‘Take Profit %’ is checked on, then Take Profit is active. If price wicks X% in the direction of your trade, then your take profit is hit and it will exit the trade.
Example:
You enter a ‘2’ in the ‘Take Profit %’ box. You enter a long at $1. Your stop loss price is $1.02 because that would be a 2% gain from your entry at $1. If price touches $1.02, it exits the trade immediately with a 2% gain.
3. The ‘Stop Loss’ is hit
There is a section named 'Extra Exit Conditions' towards the bottom of the indicator. There, you will find an input for ‘Take Profit %’.
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If the checkbox next to ‘Stop Loss %’ is checked on, then Stop Loss is active. If price wicks X% in the opposite direction of your trade, then your stop loss is hit and it will exit the trade.
Example:
You enter a ‘2’ in the ‘Stop Loss %’ box. You enter a long at $1. Your stop loss price is $0.98 because that would be a 2% loss from your entry at $1. If price touches $0.98, it exits the trade immediately with a 2% loss.
How To Visually See Exits
How To Visually See ‘Take Profit’ and ‘Stop Loss’ Price
When the StratBuilder enters into a trade, it also plots 3 horizontal lines (in most cases) with numbers above them on the chart. A white line and number to show entry price, a green line and number to show ‘take profit’ price, and a red line and number to show ‘stop loss’ price. These lines can be toggled on/off with the “Plot Lines for Entry, TP, and SL” option at the bottom of the settings.
Note: If a strategy does not have a ‘take profit’ and/or ‘stop loss’ price activated, then it will not plot the lines for ‘take profit’ and/or ‘stop loss’, respectively.
How to Visually See Time of Exit from StratBuilder
If the StratBuilder exits the trade, it will highlight the bar that it exits on. If it exits based on an ‘Exit’ condition and not a TP or SL, then it is exiting upon closure of the highlighted candle. If it exits a long, it highlights the bar blue. If it exits a short, it highlights the bar pink.
The highlighting of bars can be toggled on/off with the “Plot Highlighted Bars on Entry and Exit” option at the bottom of the settings, or in the “Style” tab in the settings. The colors and opacity of the highlighted bars can also be customized in the “Style” settings.
Bars Signal Is Valid