The "Position Exit Manager (PEM)" tool is integrated and contained within the BTWFMgr.
PEM allows you to easily detect the optimal exit logic of your trading strategy for a given set of positions/permutation.
It can detect the optimal exit logic variation, at a lighting speed of 100,000 variations per second, which could take days in Tradestation.

The " Position Exit Manager (PEM)" allows you to "plug in" any combination of different exit logic elements,
like target, stops, breakeven etc. - all details defined in the small definition file.

Below is an example showing how PEM can maintain several parallel exit "envelopes", to protect your positions and profits:

Green Target exit line Green Target exit line - a combination of: a) Fixed Target exit (initial flat green section) b) Exponential downward Target exit (descending green target line) Magenta StopOut exit line a) Fixed StopOut exit (initial flat magenta section) b) Exponential upward StopOut exit (ascending magenta StopOut line) c) New Target/Breakeven jump when a profit of 20 ticks     has been reached (new horizontal section) d) Continuation of the exponential upward StopOut exit,     when the flat new Target/Breakeven StopOut line is smaller     than the exponential line. Easy Exit Definition All of these exit logic elements are defined in a small definition file: Target:60|0             - fixed Target TargetExp:105|-0.9      - exp Target Stop:40|0               - fixed Stop StopExp:55|0.60         - exp Stop BrkEvenTarget:20|-10    - Breakeven Stop switch Very easily you can change, customize and optimize these settings, (details on each function are below, values specified in tick units)   Instead of the the number of ticks you can also define a dollar amount (default) for the following logic elements: Target:$100>$300/50  this will vary the Target between $100 and $300 in steps of $50,  testing targets of $100,$1560,$200,$250,$300 (using the dollar amount per tick for conversion) Target:T10>T30/5  this will vary the Target between 10 and 30 in steps of 5,  testing targets of 10,15,20,25,30.

Position Exit Manager (PEM) Definition File
The details of your exit logic definition are stored on a plain text file (C:\BTWFMgr\*.pemdef).
To detect the optimal exit logic, you can specify value ranges in each exit element, to test which value works best.
Here is a simple example, how to test various target exits:
Target:10>30/5
This will vary the Target between 10 and 30 in steps of 5, testing targets of 10,15,20,25,30.

Instead of the the number of ticks you can also define a dollar amount (default) for the following logic elements:
Target:$100>$300/50 - this will vary the Target between $100 and $300 in steps of $50, testing targets of $100,$1560,$200,$250,$300
                                                      (using the dollar amount per tick for conversion)
Target:T10>T30/5 - this will vary the Target between 10 and 30 in steps of 5, testing targets of 10,15,20,25,30.

Position Exit Manager (PEM) Exit Element Details
The various exit logic elements can be combined in any combination,
easily providing complex exit logic permutations, protecting your profits and positions at the optimum.

Below is a detailed list of all the exit logic elements/functions currently available in PEM.
Unless otherwise specified, all values are specified in tick units;
the smallest trading unit/increment, ES=0.25, ER2=0.1, Stocks=0.01, FOREX=pips/0.0001 etc.
(In the examples below - one vertical line represents 8 ticks)

Target Exit Functions	Two Target basic exit function are available: Linear Target Exit Target:{Distance}|{Angle} Distance in ticks from entry Angle = ticks change per bar Exponential Target Exit TargetExp:{Distance}|{Angle} Distance in ticks from entry Angle = ticks percent change per bar     Fixed Target price exit: Example: Target:20|0 Exit 20 ticks away from the entry Ascending linear Target price exit Example: Target:20|0.15 Exit 20 ticks away from the entry increase 0.15 ticks on each bar Descending linear Target price exit Example: Target:20|-0.1 Exit 20 ticks away from the entry decrease 0.1 ticks on each bar Ascending exponential Target price exit Example: TargetExp:10|1.3 Exit 10 ticks away from the entry increase distance 1.3% on each bar Descending exponential Target price exit Example: TargetExp:45|-1.1 Exit 45 ticks away from the entry decrease distance 1.1% on each bar
Stop Out Exit Functions	Three StopOut basic exit function are available: Linear StopOut Exit Stop:{Distance}|{Angle} Distance in ticks from entry Angle = ticks change per bar (always positive) Exponential StopOut Exit StopExp:{Distance}|{Angle} Distance in ticks from entry Angle = ticks percent change per bar (always positive) Trailing StopOut Exit Trail:{Distance}|{Angle} Distance in ticks from entry Angle = ticks percent change per bar (always positive) Age based StopOut Exit StopAge:(Age}|(StopDistance} Age=Number of bars since the position entry when to set the new StopOut/Target StopDistance=StopOut Distance in ticks from entry of the new StopOut/Target To force an exit at a given age, just specify a large negative StopOut: BrkEvenAge:(Age}|-9999 Fixed StopOut exit: Example: Stop:20|0 Exit 20 ticks away from the entry Ascending linear StopOut price exit Example: Stop:30|0.20 Exit 30 ticks away from the entry decrease distance 0.20 ticks on each bar Ascending exponential StopOut exit Example: StopExp:55|0.6 Exit initially 55 ticks away from the entry decrease distance 0.6% on each bar Fixed trailing StopOut exit Example: Trail:30|0 Exit 30 ticks away from the highest High since the entry (Indicated here with the green dotted line) Dynamic trailing StopOut exit Example: Trail:45|0.2 Exit 45 ticks away from the highest High since the entry (Indicated here with the green dotted line) Decrease the distance by distance 0.20 ticks on each bar
Other Exit Functions	The following other exit function are available: BreakEven switch when Target is reached BrkEvenTarget:{TarDistance)|(StopDistance} TarDistance=Target Distance in ticks from entry when to set the new StopOut/Target StopDistance=StopOut Distance in ticks from entry of the new StopOut/Target StopOut switch on a Position Age BrkEvenAge:(Age}|(StopDistance} Age=Number of bars since the position entry when to set the new StopOut/Target StopDistance=StopOut Distance in ticks from entry of the new StopOut/Target To force an exit at a given age, just specify a large negative StopOut: BrkEvenAge:(Age}|-9999 End of Day Exit EoDay:{TimeOfDay} TimeOfDay=Time when a position is to be exited (regardless of price) (HHMM) 1300 = 1:00PM, 940=9:40AM     BreakEven when Target is reached Example: BrkEvenTarget:20|0 Set StopOut to breakeven (EntryPrice) when a 20 tick target has been reached New Target when Target is reached Example: BrkEvenTarget:20|-10 Set a new Target to 10 ticks above the EntryPrice when a 20 tick target has been reached New StopOut when Target is reached Example: BrkEvenTarget:20|10 Set StopOut to 10 ticks below the EntryPrice when a 20 tick target has been reached BreakEven when a Position Age is reached Example: StopAge:92|0 Set StopOut to breakeven (EntryPrice) when the position is 92 bars old New StopOut when Position Age is reached Example: StopAge:92|-20 Set StopOut to 20 ticks above the EntryPrice when the position is 92 bars old New StopOut when Position Age is reached Example: StopAge:92|10 Set StopOut to 10 ticks below the EntryPrice when the position is 92 bars old Always exit when the end of day time is reached Example: EoDay:1300 Close the position (regardeless of price) when the time of 13:00 is reached (End of Day exit)

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