Close at End of Day (Strategy)Analysis Techniques & Strategies
Close at End of Day (Strategy)The Close at End of Day strategy uses the EasyLanguage reserved word SetExitOnClose to place an order to exit all shares or contracts in all positions on the close of the last bar of the trading session on an intra-day chart.
For historical simulations Close at End of Day generates a market order on the bar close event of the last intra-day bar for each day in the chart.
When used in an automated strategy placing real-world orders, Close at End of Day generates a limit order into the post market trading session, (if one exists), otherwise a market order is generated for the open of the next regular session day.
Close at End of Day by default uses the closing session time specified by the custom session settings of the chart.
You will not want to use Close at End of Day if you want to make sure that all of your positions are closed prior to the regular session end time. To do this, you will need to create a strategy that closes all positions on or prior to the last bar in the chart.
Market Order to Sell (Long Exit) or Market Order to Buy to Cover (Short Exit)
or
Limit Order to Sell (Long Exit) or Limit Order to Buy to Cover (Short Exit) (automated strategy with a post market session)
End of Day Exit
Breakeven Stop, Dollar Trailing, Percent Trailing, Profit Target, Stop Loss
Disclaimer