Understanding the strategy.closedtrades.entry_time() Function in Pine Script

In this article, we will delve into the utilization of the strategy. closedtrades.entry_time() function within Pine Script, highlighting its syntax, application, and how it can be leveraged to analyze the entry times of closed trades in your trading strategy. 

Syntax

The function follows the syntax:

strategy.closedtrades.entry_time(trade_num) → series int

Here, trade_num is a series integer that specifies the trade number of the closed trade you are interested in. It’s important to note that trade numbering starts at zero, meaning the first trade is referred to with the number zero.

Arguments

• trade_num (series int): This argument indicates the specific closed trade for which you want to obtain the entry time. The first closed trade in your strategy’s history is identified by 0.

How It Works

The strategy.closedtrades.entry_time() function returns the UNIX time (in milliseconds) at which a specified closed trade was entered. This is useful for analyzing the timing of trade entries in relation to market events or conditions.

Practical Example: Calculating Average Trade Duration

To illustrate the practical application of this function, let’s consider a simple strategy that enters long positions following three consecutive rising bars and exits them after two consecutive falling bars. We aim to calculate the average duration of these trades.

Example

//@version=5
strategy("Entry Time Analysis", overlay = true)

// Conditions for entering and exiting long positions.
if ta.rising(close, 3)
    strategy.entry("Ascend", strategy.long)
if ta.falling(close, 2)
    strategy.close("Ascend")

// Function to calculate the average duration of closed trades.
avgDurationCalc() =>
    durationSum = 0
    for idx = 0 to strategy.closedtrades - 1
        durationSum += strategy.closedtrades.exit_time(idx) - strategy.closedtrades.entry_time(idx)
    avgDuration = nz(durationSum / strategy.closedtrades)

// Displaying the average trade duration on the chart.
if barstate.islastconfirmedhistory
    label.new(bar_index, high, str.tostring(avgDurationCalc() / 1000, "#.##") + " sec")

Code Walkthrough

• Strategy Definition: We define a simple strategy that triggers long entries and exits based on the rise and fall of bar prices.
• Average Duration Calculation: A function avgDurationCalc computes the sum of the durations of all closed trades by iterating over them and subtracting the entry time from the exit time. It then calculates the average duration.
• Displaying Results: For the last confirmed history bar, a label is created that shows the average trade duration in seconds.

Key Features and Takeaways

• The strategy.closedtrades.entry_time() function is pivotal for analyzing trade entry timings in automated trading strategies.
• It returns the entry time of a closed trade as a UNIX timestamp in milliseconds, facilitating detailed time-based analysis.
• Through a practical example, we demonstrated how to calculate and display the average duration of closed trades, enhancing strategy analysis and optimization.
• This function is an essential tool in the Pine Script toolkit for developing, testing, and refining trading strategies on TradingView.

By integrating the strategy.closedtrades.entry_time() function into your Pine Script strategies, you gain deeper insights into the timing of trade entries and exits, enabling you to refine your trading approach with precision.