Current Position Information
Returns 1 (true) if the current stock passed EntrySetup for the specified strategy and remained in the setup list after MaxSetups (ranked by SetupScore) was applied.
Without Combined or Extern, IsSetup will by definition be 0 (false) when referenced in EntrySetup, or 1 (true) in any other entry-related formula, since the others are only evaluated for setups.
IsSetup is therefore meant to always be used with Combined (does any strategy already have a setup in this stock), or Extern (does a specific strategy already have one).
The purpose of this formula element is to make it easier to ensure that only one strategy can place an entry order in a stock on the same day.
How this works is shown in the goal_30_15_no_dupes.rts example script.
Strategies are evaluated in script order, so mr_long will process its entries first each day:
The moc_long strategy can therefore use IsSetup to exclude mr_long setups from its setup list: