If a rally fails and reaches the maximum allowed loss, the ESB can perform different actions that can be set by the “Failed Orders Action” parameter. The options are as follows:
Leave Rally: If you set this, a rally with maximum loss is left open to manage it manually. Traders may want to decide to close it after analyzing the market.
Close Rally: The ESB closes all positions of the rally after it reaches the maximum allowed loss.
Wait to Close in Zero Profit: The ESB doesn’t close the rally but waits for it to cross into zero profit before closing it immediately!
Exit Expert: The ESB is closed and leaves the rally open. You need to run ESB again after this action.
Close Buy/Sell Rally Expression: If your plan includes conditions for deciding about closing the rally, you can set these conditions separately for buy and sell by defining an expression. The target profit can be set here by defining it using buy or sell expressions. ESB checks these conditions and, when they are met, closes all positions immediately!