I have a strategy with:
Entry: UpperBuy
Exit: UpperExit, 3pmExit
and one Stop Loss.
It is based on indicators for the entry and the exit, UpperExit, and based on time and position=long for 3pmExit.
When the stop loss fires the strategy can re-enter based on the UpperBuy criteria.
I'd like to set it up so that when the stop loss fires the strategy takes a day off, my thought being to let people/market calm down and reach a new low / more stable range.
I know about BarsSinceExitExecution but I haven't quite gotten the logic figured out for how to add it to the entry criteria.
I think it has to be done in a group in the entry conditions.
I know to get the first entry to fire I have to have BarsSinceExitExecution = -1.
OR, do you think there is some way to use Realized/Unrealized P&L to get the right effect?
I'm trying to avoid situations like March, April 2020 with continuous slides down and having 2-5 stop losses in a row. I'm fine with one stop loss but then I want the strategy to just chill out, take a break, go for a walk, and try again one day/week/whatever later.
Thanks for your help!
JMC