Close the Open Position at next candle opposite

[zedeai2]

Hello @l-andorrà,

If I have an open position (let say it' BUY), but unfortunately the next candle is bearish (candle 1)

How to close the open position at open of candle-0 / (which it was opened at candle 2) once the next bearish candle was closed (as candle-1)?

[l'andorrà]

@zedeai2 Not sure I fully understand. The open on candle ID 0 will be at the exact same price it was the close price of candle ID 1. Unless you are talking about a gap between candle ID 0 and 1, that will never happen.

[zedeai2]

@l-andorrà Hello, sorry my explanation was bad.

Let me try to re-explain :
1 I do open buy (candle-2)
2 but the next candle was bearish (candle-1)
3 Because the candle was bearish, so I will close it on the open price of current candle (candle-0)

So basically, I want to close the running position once the candle is opposite

Thank you

[biztet]

Hi @zedeai2 . If candle2 is a bull and you buy from bottom, and candle1 is a bear, no one can tell if you can close at that position. From your drawing it can only happen if there is a gap like @l-andorrà said, if and only if that happens. Maybe if you are targetting the gap, you can try use profit unrealized block at the open of next candle.

[l'andorrà]

@zedeai2 If I understand it correctly you mean the trade should close at the bottim of your candles 1's example, and NOT in the position you initially specified. Is that correct?

[zedeai2]

@l-andorrà Hello, yes the position will not closed at the initial open position. But it's closed once the last candle was bearish

[zedeai2]

@biztet gap and profit unrealized on next candle? It can be too... Could you please to share me an example of that block structure?

Thank you

[l'andorrà]

@zedeai2 You need the following combo:

'For each trade' (on top and specified for buys) --> 'Bear candle' (below and specified for candle ID 1) ---> 'close'

[zedeai2]

@l-andorrà Thank You, I will try it

Regards