Horizon Trading
  • Welcome to Horizon AI
  • After Sign Up
    • Connecting your Discord
    • Download the Chrome Extension
  • HorizonAI Chat
    • Introduction
    • Horizon Chat Best Practices
    • Features
      • Connecting to the Pine Editor
      • Chat Commands
      • Quick add Scripts
      • Starting a New Project
    • Examples
      • Advanced Order Blocks w/ Volume
  • Script Builder
    • What is the Script Builder
    • Blocks
      • Indicators
      • Day and Time
      • Candle Patterns
      • Conditions
      • Open/Closing a Trade
    • Building your first script
    • Script Templates
      • Making an EMA Crossover
      • Higher TimeFrame Supertrend
      • Order Block Retest w/ Market Structure
      • Trend Line Breakout in a Trending Market
      • Break of Structure during London Open
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On this page
  • Open Trade Block
  • Close Trade Block
  • How to Use These Blocks:
  • Opening a Trade:
  • Closing a Trade:
  1. Script Builder
  2. Blocks

Open/Closing a Trade

Open/Closing a Trade

PreviousConditionsNextBuilding your first script

Last updated 5 months ago

These blocks are crucial components of your trading strategy, allowing you to define when and how to enter and exit trades.

Open Trade Block

The Open Trade Block is used to initiate new trading positions based on your strategy's signals.

Key Features:

  • Action Selection: Choose between "Buy" (go long) or "Sell" (go short) actions.

  • Quantity: Set the amount of the asset you want to trade.

  • Stop Loss: Set a price at which to automatically close the trade to limit potential losses.

  • Take Profit: Set a price at which to automatically close the trade to secure profits.

  • Activate Trailing Stop: Enable a dynamic stop loss that moves with the price.

  • Trigger Distance: Set how far the price needs to move in your favor before the trailing stop activates.

  • Trailing Distance: Set how far behind the price the trailing stop should follow.

Close Trade Block

The Close Trade Block is used to exit existing trading positions based on your strategy's signals.

Key Features:

  • Action Selection: Choose between "Close Buy" (exit a long position) or "Close Sell" (exit a short position).

How to Use These Blocks:

Opening a Trade:

  • Add an Open Trade Block to your strategy.

  • Configure the action (Buy/Sell), quantity, and risk parameters.

  • Connect it to your entry signal (from a Condition Block).

Closing a Trade:

  • Add a Close Trade Block to your strategy.

  • Select the appropriate closing action.

  • Connect it to your exit signal (from a Condition Block).

Remember, effective use of these blocks is crucial for managing your trading risk and implementing your strategy. Always ensure that your Open Trade signals are balanced with appropriate Close Trade signals to manage your positions effectively.

Open Trade Settings
Close Trade Settings