What It Does

This handler runs when an open position is updated, such as when the price changes. It allows you to monitor and manage your open trades in real-time, like tracking profit, updating stop-loss levels, or checking how long the position has been open.

State and Update Breakdown

• State: This is like a memory box for your strategy. It stores important information, such as:
  • Details about the open position (e.g., entry price, position size).
  • Indicators (tools like RSI or moving averages).
  • Custom data (any extra information you want to save).
• Update: This provides updates related to the position, such as the latest price or other relevant data.

Examples

Example 1: Monitor Position Profit

/**
    - This defines an asynchronous function that takes two inputs: `state` and `update`.
    - `state` is the memory box for your strategy.
    - `update` contains the latest market data.
**/
async (state = {}, update = {}) => {
  const position = HFS.getPosition(state); // This checks if there’s an open trade position by looking at the state object.
  /**
  - This calculates the profit by:
    - Subtracting the entry price (`position.price`) from the current price (`update.price`).
    - Multiplying the result by the position size (`position.amount`).
  **/
  const profit = (update.price - position.price) * position.amount;
  
  // This logs the current profit to the console.
  console.log(`Current profit: ${profit}`);
  
  return state; // This returns the updated state object.
}

• What Happens:
  • The strategy checks if there’s an open position.
  • It calculates the profit by:
    • Subtracting the entry price (position.price) from the current price (update.price).
    • Multiplying the result by the position size (position.amount).
  • It logs the current profit to the console.
  • This is useful for tracking how much profit or loss your trade is making in real-time.

Example 2: Update Trailing Stop

/**
    - This defines an asynchronous function that takes two inputs: `state` and `update`.
    - `state` is the memory box for your strategy.
    - `update` contains the latest market data.
**/
async (state = {}, update = {}) => {
  const position = HFS.getPosition(state); // This checks if there’s an open trade position by looking at the state object.
  const { price } = update; // This extracts the price from the update object.
  
  // This checks if the price has moved above the current trailing stop level.
  if (price > state.trailingStop) {
	  // This updates the trailing stop to 5% below the new price.
    state.trailingStop = price * 0.95;
  }
  
  return state; // This returns the updated state object.
}

• What Happens:
  • The strategy checks if there’s an open position.
  • It gets the latest price from the update object.
  • If the price has moved above the current trailing stop level, it updates the trailing stop to 5% below the new price.
  • This is useful for locking in profits as the price moves in your favor.

Example 3: Check Position Duration

/**
    - This defines an asynchronous function that takes two inputs: `state` and `update`.
    - `state` is the memory box for your strategy.
    - `update` contains the latest market data.
**/
async (state = {}, update = {}) => {
  const position = HFS.getPosition(state); // This checks if there’s an open trade position by looking at the state object.
  const currentTime = Date.now(); // This gets the current time in milliseconds.
  const entryTime = position.entryTime; // This gets the time the position was opened.
  
  // This checks if 1 hour (3600000 milliseconds) has passed since the position was opened.
  if (currentTime - entryTime > 3600000) {
	  // This logs a message to the console if the position has been open for over 1 hour.
    console.log("Position has been open for over 1 hour.");
  }
  
  return state; // This returns the updated state object.
}

• What Happens:
  • The strategy checks if there’s an open position.
  • It calculates how long the position has been open by comparing the current time to the entry time.
  • If the position has been open for more than 1 hour, it logs a message to the console.
  • This is useful for monitoring how long a trade has been open.