How to Use a Closed Bar Price

There are two primary methods to use a closed bar price in the Manual Strategy Builder (MSB):

Solution 1: Using the Open Price of the Last Bar

Steps:

1. Define the Variable Using the Open Price of the Last Bar:
   
   
   • Select and Configure the Indicator:
     
     
     • Indicator: Simple Moving Average (SMA)
       
       
     • Price Type: Open Price
       
       
     • Bars Back: 0 (current bar)
       
       
2. Define Variable Properties:
   
   
   • Name: Current Price
     
     
   • Code: currentPrice
     
     
   • Value: Indicator value (SMA on Open Price)

Solution 2: Using the Close Price of the Previous Bar

Steps:

1. Define the Variable Using the Close Price of the Previous Bar:
   
   
   • Select and Configure the Indicator:
     
     
     • Indicator: Average True Range (ATR)
       
       
     • Bars Back: 1 (previous bar)
       
       
2. Define Variable Properties:
   
   
   • Name: Current Price
     
     
   • Code: currentPrice
     
     
   • Value: Indicator value (ATR on Close Price)

Conclusion

By following these steps, traders can effectively use closed bar prices within their trading strategies. Whether using the open price of the last bar or the close price of the previous bar, these approaches provide flexibility in how price data is utilized within the MSB, enhancing the precision and adaptability of trading strategies within FinStudio.