It is convenient when a reverse order from your strategy/indicator closes an existing position before opening. In this article, we detail how you can achieve this while automating TradingView alerts to ByBit.
Strategies With a Close Command
For better results, switch to one-way position mode and use the command {{strategy.market_position}}. If your account is in hedge mode, you will need to add the parameter “hedge” without the " at the end of your command for it to work correctly.
Strategies Without a Close Command
For you to successfully perform this operation, you will need to switch the Position Mode to One-Way Mode on your ByBit account under settings. After verifying these settings, proceed as follows:
For a strategy, combine {{strategy.order.action}} to generate the Buy/Sell action and multi commands in the order of priority. See the example below:
Close BTCUSDT
{{strategy.order.action}} BTCUSDT Q=0.02
The above command will first close any existing BTCUSDT position before executing the strategy command.
That way you can always keep closing existing positions and opening new positions on reversal.
It’s that simple! Keep it TradingView To Anywhere for more trading tips and hacks 