Close Position After Retracement

[rogueking]

Hello.

Is there a strategy that watches open positions for a given pair and can then close the position if certain time and value positions are met?

For example, close USDJPY if the position has been open for longer than 5 hours and the pip value reaches a certain amount like -20?

Thanks!

[Apprentice]

Sure. We have some.
Can you give all the conditions for it?

[rogueking]

So the user sets two variables

1. The minimum number of hours / minutes for trigger the strategy to start watching open trades.
2. The close value that will trigger the close trade action.

So if I want the strategy to start monitoring a trade that has been open for longer than six hours, I set the trigger time to 6Hrs. When a trade has been open for 6 hours, the strategy then starts monitoring its pip value waiting for the close value.

If I set the close value to -20 pips, then the strategy will wait until the open trade has been open for more than 6 hours and has reached -20 pips and then close the trade.

It's basically a simple retracement computation for a stop-loss / bad trade exit that I want to test.

[Apprentice]

Your request is added to the development list under Id Number 4589

[Apprentice]

Try this version.
viewtopic.php?f=31&t=68329