SFX Automation: Entry Conditions
The SFX Automation allows users to create, backtest, and automate strategies using features from the SFX Algo toolkit. This article explains how each entry condition functions in the SFX Automation for building long and short strategies.
Steps Explained
Before you create a strategy, it's important to understand how to use steps. Within the SFX Automation you can create long and short entry conditions which are triggered when a certain set of criteria are met while following an order.
Consecutive Steps
If you’re creating a strategy with three steps, you can set your conditions in order as Step 1, Step 2, and Step 3.
If your strategy only requires two steps, but one step can be met by either of two conditions, assign both conditions to the same step. For example, if Step 1 can be satisfied by detecting either a 4 Star Buy Signal or a 3 Star Buy Signal, both conditions should be labeled as Step 1. In short, assigning multiple conditions to the same step means the step is satisfied if any of those conditions are met.
Entry Conditions
The SFX Automation can use the following conditions for entry conditions.
Buy Signal
Buy Any☆: Triggered when any Buy Signal is detected
Buy 1☆: Triggered when a 1 Star Buy Signal is detected
Buy 2☆: Triggered when a 2 Star Buy Signal is detected
Buy 3☆: Triggered when a 3 Star Buy Signal is detected
Buy 4☆: Triggered when a 4 Star Buy Signal is detected
Buy 5☆: Triggered when a 5 Star Buy Signal is detected
Sell Signal
Sell Any☆: Triggered when any Sell Signal is detected
Sell 1☆: Triggered when a 1 Star Sell Signal is detected
Sell 2☆: Triggered when a 2 Star Sell Signal is detected
Sell 3☆: Triggered when a 3 Star Sell Signal is detected
Sell 4☆: Triggered when a 4 Star Sell Signal is detected
Sell 5☆: Triggered when a 5 Star Sell Signal is detected
Rating Upgrade
Buy | Rating Upgrade: Triggered when a buy signal's rating has increased or upgraded
Buy | Rating Downgrade: Triggered when a buy signal's rating has decreased or downgraded
Sell | Rating Upgrade: Triggered when a sell signal's rating has increased or upgraded
Sell | Rating Downgrade: Triggered when a sell signal's rating has decreased or downgraded
Take Profit
Take-Profit (TP) triggers are based on the TP settings users select for the SFX Algo under the Take Profit / Stop Loss Settings within the SFX Automation settings:
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Buy | TP 1: Triggered when TP 1 is reached from a buy signal.
Buy | TP 2: Triggered when TP 2 is reached from a buy signal.
Buy | TP 3: Triggered when TP 3 is reached from a buy signal.
Sell | TP 1: Triggered when TP 1 is reached from a sell signal.
Sell | TP 2: Triggered when TP 2 is reached from a sell signal.
Sell | TP 3: Triggered when TP 3 is reached from a sell signal.
Stop Loss
Stop-Loss (SL) triggers are based on the SL settings users select for the SFX Algo under the Take Profit / Stop Loss Settings within the SFX Automation settings:
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Buy | SL: Triggered when the SL is reached from a buy signal.
Sell | SL: Triggered when the SL is reached from a buy signal.
Retracement Wave
Bullish R. Wave Retest: Triggered when price retests the Retracement Wave when it's bullish. A retest is confirmed when a candle enters the retracement wave and closes outside of it.
Bullish R. Wave Retracement: Triggered when price touches the Retracement Wave when it's bullish.
Bearish R. Wave Retest: Triggered when price retests the Retracement Wave when it's bearish. A retest is confirmed when a candle enters the retracement wave and closes outside of it.
Bearish R. Wave Retracement: Triggered when price touches the Retracement Wave when it's bearish.
Volatility Bands
Bullish V. Bands Retest: Triggered when price retests the lower or bullish Volatility Bands. A retest is confirmed when a candle enters the lower bands and closes outside of it.
Bullish V. Bands Retracement: Triggered when price touches the lower or bullish Volatility Bands.
Bearish V. Bands Retest: Triggered when price retests the upper or bearish Volatility Bands. A retest is confirmed when a candle enters the upper bands and closes outside of it.
Bearish V. Bands Retracement: Triggered when price touches the upper or bearish Volatility Bands.
Timeframe Conditions
The SFX Automation supports Multi-Timeframe (MTF) features. When setting an entry condition, you can also choose the timeframe this condition must be met on.
This example illustrates a condition for Any Buy Signal from the 1 hour timeframe to be detected.
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External Conditions
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Users can use external indicators on the chart to set entry conditions.
The second dropdown in the external condition settings allows you to choose a conditional operator to compare external outputs. Available options include:
Less Than or Equal To: <=
Less Than: <
Equal To: =
Greater Than: >
Greater Than or Equal To: >=
Here is an example of the external condition being set for price closing above an Exponential Moving Average (EMA).
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Session Conditions
The SFX Automation allows traders to choose when to execute trades and when to not execute trades.
Only Take Trades
This setting lets users specify the time period when their strategy can open or execute trades.
Don't Take Trades
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This setting allows users to specify periods when their strategy can't open or execute trades.