Professional exits

Candle close, trailing and signals

Price touch or candle close, trailing targets, EMA crossovers, Heikin-Ashi and scaling out.

Price touch or candle close

Every rule with a price level can fire in two ways. Price touches the level: the moment the price reaches it. A candle closes beyond the level: only when a candle of the timeframe you choose (1 minute to 1 day) closes past it. A quick wick through the level then does not stop you out.

Only candles that closed after you started the plan count, so an old candle can never fire a new rule.

EMA crossover: PCO and NCO

A positive crossover (PCO) happens when the fast EMA crosses above the slow one. A negative crossover (NCO) happens when it crosses below. You choose both EMAs (for example 5 and 21), the timeframe and which crossover. The check is made when a candle closes. For a long position an NCO is the usual stop-loss; for a short it is a PCO. You can also use a crossover as a target.

Heikin-Ashi

Heikin-Ashi candles smooth the price, so a trend shows as a run of same-colour candles. Use them in two ways. As a trailing stop (Heikin-Ashi trail), the level follows the lowest low of the last few Heikin-Ashi candles. As a signal (Heikin-Ashi colour change), the position closes when a candle turns against you. As a target it can book the profit once you are in profit by a set number of points.

Trailing targets

A trailing method used as a target does not close at once. It waits until the price has run by the profit you set (Start after profit of), then closes when the price falls back through its level. That lets a winner run and still protects the profit.

Scaling out

Each rule has a Close how much box. 100 closes everything. Add several target rules with a share each, for example half at 1R and half at 2R, and combine them with a break-even stop. The shares are counted on the size of the position when you set the rules, and a rule never closes more than is left.

Note. If an exit order is refused, for example because the market just closed, the plan keeps the rule and tries again a few seconds later.