The simplest of the condition blocks, the Price block is used to create conditions that are only based on price.
Using the price block, traders can add a condition to check if the price is
- higher/lower than an absolute number
- increases/decreases by a %
While doing % comparison, traders can compare the current price with 6 different types of parameters
1. Last buy/sell price
The price of the current candle is compared to the price at which the last trade the strategy made. If your strategy has not done any trade then the price of the candle on which the strategy was initiated will be used for reference.
2. Max/Min since last buy sell
Instead of using the last selling price we keep on trailing the price and as soon as a price hits a Maxima/Minima, we will use that price as the reference price.
3. Max/Min since the last N Candles
We look back on the last 'N' candles before the current candle and compare the price of the current candle with the Max/Min price in the last N candles.
4. Avg of the last 'N' Candles
We look back on the last 'N' candles before the current candle and compare the average price of the last N candles with the selected price of the current candle.
Eg: Let's Say we have a scenario like below
Here the price of the candle will be compared to different prices as follows:
- Trade Entry= Last buy/sell
- Price A = Min Since Last buy/sell
- Price B = Max since Last buy/sell
- Price C= Max since the last 30 Candles
- Price D = Min Since the last 30 Candles
- Price E = Avg. of the last 30 Candles