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OptionsApp

Entry & Exit Conditions (and Filter/Trigger Logic)

Updated: July 2, 20257 min read

In OptionsApp, you can define so-called Entry and Exit Conditions, conditions that must be met when entering or exiting a trade.

Besides the classic use via Filters and Triggers, an Entry or Exit Condition can also be set up as a Webhook. In this case, the trigger is not activated through an internal condition check in OptionsApp, but through an externally sent Webhook signal.

1. What are Entry Conditions?

Entry Conditions determine when a trade is opened. In a configuration, you can combine one or multiple conditions, such as technical indicators like the EMA, MACD, or ADX, as well as values like an Overnight Gap or Intraday Movement.

2. What are Exit Conditions?

Exit Conditions determine when a trade is closed. Just like Entry Conditions, you can combine one or multiple conditions. The same technical indicators are available.

3. Difference: Filter vs. Trigger

Whether a Condition is used as a Filter or Trigger has significant effects on the trade's behavior.

Entry Condition as Filter

The condition is checked once at the defined time. If it's met, the trade is opened. If not, the trade is set to CANCELED and not executed.

In the following example, a trade is defined (in the strategy's schedule) with a Filter Entry Condition assigned. Specifically, this means the trade configured here will be executed at 10:30 (Exec. Time), provided the Filter Entry Condition is met. The Expiration (min) only indicates how long OptionsApp should attempt to open the trade. For simple trades (single Legs or Spreads), 1 minute is usually sufficient; for more complex structures, you can set it to 2 minutes, for example.

Entry and Exit Condition Triggers

A time window is defined in which the condition should be met (this happens in the strategy's schedule). OptionsApp waits within this time window for the Condition to be met and opens or closes the trade as soon as it switches to "true" for the first time. It's important to note that the Condition must switch from "false" to "true". This means if the Condition was already met before, the trade will not be opened or closed.

For Entry Conditions with Triggers, a recent update allows the trade to be executed even if the condition was already met at the beginning of the check period, similar to Option Omega. To do this, you need to check the "Activate if condition is met at entry" box when configuring the Entry Condition.

In the following example, a trade is defined (in the strategy's schedule) with a Trigger Entry Condition assigned. Specifically, this means the trade configured here can be opened within the time span from 10:30 (Exec. Time) to 11:30 (Exec. Timeout). It will be opened when the Trigger signal is met during this time window (actively switches from "false" to "true"). Or when you check the "Activate if condition is met at entry" box, if the condition is already met at 10:30. Additionally, a Max Exec. field appears, indicating how many times a trade will be opened if the condition is met multiple times (here: 3x).

The Exec. Timeout and Max. Exec. fields are only displayed when a Trigger Entry Condition is assigned.

Note: Entry Conditions can be set up as Filter, Trigger, or Webhook. Exit Conditions, however, cannot be used as Filters but exclusively as Trigger or Webhook, since an exit must always be actively triggered.

For Triggers: Unlike a Stop Loss, for example, Trigger signals can only be processed once per minute, at the beginning of each new minute. If the condition already exists within a running minute, the trigger can only occur after that minute completes. If an Exit Condition switches to true at 10:40:25, for example, the trade can only be closed starting at 10:41:00.

If a Webhook is used instead of a Trigger, the activation does not occur through the internal check of a Condition within a time window, but through an externally sent signal, which immediately triggers the opening or closing.

4. Structure & Logic

In the "Trade Entry Condition" or "Trade Exit Condition" windows, you can configure conditions step by step from left to right:

In this example:

  • Underlying: SPX
  • Indicator: EMA
  • Time Period: 5 Minutes
  • Comparison: Greater Than
  • Comparison Value: EMA 20 Minutes

This means: If the EMA (5min) is above the EMA (20min), the condition is met. If this condition is defined as a Filter, the check occurs once at the Entry time. If the condition is defined as a Trigger, the EMA (5min) must cross the EMA (20min) from below to above (or crossover from below to above) for the Trigger to activate.

5. Linking Multiple Conditions

By clicking "Add condition", you can add further conditions. In the first field, you can define how these conditions should be linked (AND/OR logic).

In this extended example, two conditions must be met simultaneously:

  • The short-term EMA (5min) is above the longer-term EMA (20min).
  • The last closing price of SPX is above the SMA (200 days), or the 200-day moving average.

Only if both conditions are true (with "AND"), the trade will be opened or closed. With "OR", meeting one of the conditions is sufficient.

AND Logic with Triggers

If multiple Trigger conditions are linked with AND in an Entry or Exit Condition, the Trigger is only activated when all conditions are met and the last previously unmet condition actively switches from "not met" to "met".

With an example of 3 Conditions, this specifically means:

  • Two of the three conditions may already be met for a long time. The Trigger activates only when the third (previously unmet) condition actively changes its status (from false to true).
  • What's crucial is the moment when the last outstanding condition is added and thereby the entirety of the conditions is met for the first time.
  • If all conditions were already met beforehand (all are TRUE) and nothing actively changes their status later, there will be no renewed triggering. Only if one or more of the conditions become unmet again and then become met again would another opening be triggered.

6. Example of an Exit Condition

All the examples mentioned so far were with Entry Conditions. That's why I'd like to give you an example of how to define an Exit Condition. The biggest difference from Entry Conditions is that the Exit Condition can only be defined as a Trigger. Otherwise, the structure and logic are identical.

In this example, the trade would be closed if the VIX rises above 20.

7. Execution with an Exit Condition

When you set an Exit Condition, the trade is closed with a Market Order. This ensures that when the condition is met, you definitely exit the trade.

8. Difference Between "Close" and "Close + Current"

In OptionsApp, when selecting Entry or Exit Conditions, it's crucial whether you use "Close" or "Close + Current". The difference lies in which prices are included in the indicator calculation: With "Close", the condition works exclusively with fully completed trading days. If you choose "Close + Current", however, the current, still-running daily price (i.e., the live/intraday status) is also included in the calculation. This behavior is exactly what matches the common test logic of Option Omega, where indicators are calculated based on "Close + Current", meaning from the closing prices of previous days ("Close") and the current day's price ("Current").

An example makes this clear: With an SMA of 14 days, the "Close" setting uses the closing prices of the last 14 completed days to calculate the average. With "Close + Current", only the last 13 closing prices are taken, and as the 14th value, today's current price is added. As a result, the indicator reacts faster to new movements and signals can emerge earlier.

9. List of Available Entry and Exit Conditions

The following Entry and Exit Conditions are available:

  • Value: Value or point level of the Underlying
  • EMA: Exponential Moving Average
  • SMA: Simple Moving Average
  • RSI: Relative Strength Index
  • Overnight Gap: Difference between previous day's closing price and opening price
  • Intraday Movement: Movement of the Underlying within the day
  • DMI (ADX): Trend strength according to Average Directional Index
  • DMI (+DI): Positive Directional Movement Index
  • MACD (Line): Difference between fast and slow moving average
  • MACD (Histogram): Distance between MACD Line and Signal Line
  • Movement Since Trade Opening: Movement of the Underlying since trade opening
  • Price-Movement: Price movement or return of the last X minutes
  • Expected Move: Expected Move calculated from 0DTE ATM Straddle
  • Expected Move Consumption [%]: measures Intraday Movement in relation to Expected Move

Each of these Conditions can be individually configured and combined in any way.

10. Practical Note on Naming

In the "Entry Condition"/"Exit Condition" field, a unique label should be assigned, e.g., "EMA5>20 & SPX>SMA200". This makes it much easier to find and assign.

11. Further Documentation

Below you'll find detailed descriptions of individual Entry and Exit Conditions:

Conditions for stocks and ETFs are created in the same window. What is different there and which indicators are available is described in Stocks & ETFs: conditions and indicators.

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Entry & Exit via Webhook