In cases that your plan also has different conditions for closing positions, set “Close Expressions”. First of all, set “Checking Mode” and if close condition must be checked per candle, set time frame for checking desired conditions and then write a logical expression for buy and sell positions. The ESB checks these conditions for every tick or every candle as you set, and if the result of expressions is true closes that position. If Buy and Sell Expressions leave empty, ESB doesn’t check any condition.
Partial Close Expressions
Partial Close is one of the forex exit strategies that are available at the disposal of forex traders. It is a forex exit strategy that a trader can use to exit his trade in a piecemeal fashion instead of just exiting the trade at one time. It is used to close a portion of a trade as the profits start to roll in so as to secure some level of profit no matter what could happen later. Partial close helps ensure, at least, small amount of profit when trading is favorable.
ESB supports all kinds of partial closing. First of all, you need to enable partial close by the setting of the “Enabled” option to true. You can define different conditions and percentages for each step. ESB has a series of conditions and percentages’ expressions for Buy and Sell positions. You need to add your condition and percentage of each step in a comma-separated format. For example:
Condition Expressions: MA1>MA2, MA1 CROSSUP MA2, RSI<30
Percentage Expressions: 25%, 45%, 0.5
In this example, if MA1>MA2, ESB closes 25% of the position. Then it waits to MA1 crosses up MA2 to close 45% of the initial size of the order and finally, it waits to RSI comes below 30 to close 0.5 lots. If the remained size is less than 0.5 lots, it closes the whole order. You can use % for percentage cases and remove % for fixed lots. Also, you can also use expressions for defining the percentage of each step.
Note: number of conditions and the number of percentages in the series have to be equal.