Sell: Difference between revisions
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Completely or partially exits one or all of the long entries as specified by the parameters. | Completely or partially exits one or all of the long entries as specified by the parameters. | ||
The exit point is visually indicated on a chart by an Arrow and a Tick. The Arrow identifies the time and the Tick identifies the price value of the exit point. Labels, displaying the exit name and the number of contracts or shares traded, are displayed above the Sell Arrow. | The exit point is visually indicated on a chart by an Arrow and a Tick. The Arrow identifies the time and the Tick identifies the price value of the exit point. Labels, displaying the exit name and the number of contracts or shares traded, are displayed above the Sell Arrow. | ||
An order is executed at the point specified by the parameters; if the order is not filled within the specified bar, the order is cancelled. | <div style="background-color: #FFE4E1;margin-bottom:10px;">An order is executed at the point specified by the parameters; | ||
if the order is not filled '''within''' the specified bar, the order is '''cancelled'''.</div> | |||
== Usage == | |||
<syntaxhighlight>Sell[("ExitLabel")][From Entry("EntryLabel")][TradeSize[Total]]Exit</syntaxhighlight> | <syntaxhighlight>Sell[("ExitLabel")] [From Entry("EntryLabel")] [TradeSize[Total]] Exit</syntaxhighlight> | ||
Parameters inside the square brackets are optional | Parameters inside the square brackets are optional - if these aren't defined, the default is used. | ||
== Parameters == | |||
:'''ExitLabel''' - an optional parameter; assigns a name that will be displayed in the name label above the exit. | |||
::If '''ExitLabel''' is not specified, the name "Sell" will be used for the first exit, "Sell#2" for the second exit, "Sell#3" for the third exit, etc. | |||
:'''EntryLabel''' - an optional parameter; ties the exit to the particular entry that was assigned the '''EntryLabel''' name; the name must be preceded by the word [[Entry]], the word [[From]] is a [[:Category:Skip Words|skip word]] and can be omitted. | |||
::An exit can only be tied to an entry within the same signal. For more information, see [[Buy]]. | |||
::If '''EntryLabel''' is not specified, '''all''' of the open long entries will be closed. | |||
:'''TradeSize''' - an optional parameter; a numerical expression, specifying the number of contracts or shares to sell; the expression must be followed by one of the following interchangeable words: [[Share]], [[Shares]], [[Contract]] or [[Contracts]]. | |||
::By default, the number of contracts or shares specified by the '''TradeSize''' parameter will be sold from '''each one''' of the open long entries. | |||
::If '''TradeSize''' is followed by the word [[Total]], only the number of contracts or shares specified by the '''TradeSize''' parameter will be sold, regardless of the number of open long entries. The contracts or shares will be sold in the same order they were bought: ''First In, First Out''. | |||
::If '''TradeSize''' is not specified, the entire long position will be closed out. | |||
:'''Exit''' - a required parameter; specifies the timing and price of exit. See the section below for the different types of exits. | |||
== Types of exit == | |||
There are four types of Exit: | |||
=== Exit this bar on close === | |||
<syntaxhighlight>This Bar On Close</syntaxhighlight> | |||
Where: | |||
:'''On''' - a [[:Category:Skip Words|skip word]] that can be omitted. | |||
A Sell Arrow will be placed at the current bar's [[Close]] tick. | |||
=== Exit next bar at open === | |||
<syntaxhighlight>Next Bar At Open</syntaxhighlight> | |||
or | |||
<syntaxhighlight>Next Bar At Market</syntaxhighlight> | |||
Where: | |||
:Words '''Market''' and '''Open''' are interchangeable. | |||
:'''At''' - a [[:Category:Skip Words|skip word]] that can be omitted. | |||
A Sell Arrow will be placed at the next bar's [[Open]] tick. | |||
=== Exit next bar at limit === | |||
<syntaxhighlight>Next Bar At Price Limit</syntaxhighlight> | |||
Where: | |||
Where: | |||
:'''Price''' - a numerical expression, specifying the [[Limit]] Price. | |||
:'''At''' - a [[:Category:Skip Words|skip word]] that can be omitted. | |||
A Sell Arrow will be placed on the next bar at the first tick with a price value greater than or equal to '''Price'''; if there are no such ticks within the next bar, the order will be cancelled. | |||
=== Exit next bar at stop === | |||
<syntaxhighlight>Next Bar At Price Stop</syntaxhighlight> | |||
Where: | |||
:'''Price''' - a numerical expression, specifying the [[Stop]] Price. | |||
:'''At''' - a [[:Category:Skip Words|skip word]] that can be omitted. | |||
A Sell Arrow will be placed on the next bar at the first tick with a price value equal to or less than the ''''Price'''; if there are no such ticks within the next bar, the order will be cancelled. | |||
== Examples == | |||
Completely exit all open long entries at Market price on close of this bar and label the exit "Complete Exit": | Completely exit all open long entries at Market price on close of this bar and label the exit "Complete Exit": | ||