diff --git a/config_examples/config_full.example.json b/config_examples/config_full.example.json
index 164e38f67..d361b5b00 100644
--- a/config_examples/config_full.example.json
+++ b/config_examples/config_full.example.json
@@ -149,7 +149,7 @@
                 "trailing_stop_loss": "off",
                 "stop_loss": "off",
                 "stoploss_on_exchange": "off",
-                "custom_sell": "off"
+                "custom_exit": "off"
             },
             "sell_fill": "on",
             "buy_cancel": "on",
diff --git a/docs/telegram-usage.md b/docs/telegram-usage.md
index b84c21c65..5433fe23b 100644
--- a/docs/telegram-usage.md
+++ b/docs/telegram-usage.md
@@ -90,7 +90,7 @@ Example configuration showing the different settings:
             "trailing_stop_loss": "on",
             "stop_loss": "on",
             "stoploss_on_exchange": "on",
-            "custom_sell": "silent"
+            "custom_exit": "silent"
         },
         "buy_cancel": "silent",
         "sell_cancel": "on",
diff --git a/freqtrade/enums/exittype.py b/freqtrade/enums/exittype.py
index fb5c7110b..a2aa89305 100644
--- a/freqtrade/enums/exittype.py
+++ b/freqtrade/enums/exittype.py
@@ -12,7 +12,7 @@ class ExitType(Enum):
     SELL_SIGNAL = "sell_signal"
     FORCE_EXIT = "force_exit"
     EMERGENCY_EXIT = "emergency_exit"
-    CUSTOM_SELL = "custom_sell"
+    CUSTOM_EXIT = "custom_exit"
     NONE = ""
 
     def __str__(self):
diff --git a/freqtrade/optimize/backtesting.py b/freqtrade/optimize/backtesting.py
index 7dc21a6b1..332f0c499 100644
--- a/freqtrade/optimize/backtesting.py
+++ b/freqtrade/optimize/backtesting.py
@@ -529,7 +529,7 @@ class Backtesting:
             # call the custom exit price,with default value as previous closerate
             current_profit = trade.calc_profit_ratio(closerate)
             order_type = self.strategy.order_types['exit']
-            if sell.exit_type in (ExitType.SELL_SIGNAL, ExitType.CUSTOM_SELL):
+            if sell.exit_type in (ExitType.SELL_SIGNAL, ExitType.CUSTOM_EXIT):
                 # Custom exit pricing only for sell-signals
                 if order_type == 'limit':
                     closerate = strategy_safe_wrapper(self.strategy.custom_exit_price,
diff --git a/freqtrade/strategy/interface.py b/freqtrade/strategy/interface.py
index a488b1a28..f9f04f5b5 100644
--- a/freqtrade/strategy/interface.py
+++ b/freqtrade/strategy/interface.py
@@ -895,7 +895,7 @@ class IStrategy(ABC, HyperStrategyMixin):
                     pair=trade.pair, trade=trade, current_time=current_time,
                     current_rate=current_rate, current_profit=current_profit)
                 if custom_reason:
-                    exit_signal = ExitType.CUSTOM_SELL
+                    exit_signal = ExitType.CUSTOM_EXIT
                     if isinstance(custom_reason, str):
                         if len(custom_reason) > CUSTOM_EXIT_MAX_LENGTH:
                             logger.warning(f'Custom {trade_type} reason returned from '
@@ -904,7 +904,7 @@ class IStrategy(ABC, HyperStrategyMixin):
                             custom_reason = custom_reason[:CUSTOM_EXIT_MAX_LENGTH]
                     else:
                         custom_reason = None
-            if exit_signal in (ExitType.CUSTOM_SELL, ExitType.SELL_SIGNAL):
+            if exit_signal in (ExitType.CUSTOM_EXIT, ExitType.SELL_SIGNAL):
                 logger.debug(f"{trade.pair} - Sell signal received. "
                              f"exit_type=ExitType.{exit_signal.name}" +
                              (f", custom_reason={custom_reason}" if custom_reason else ""))
diff --git a/tests/strategy/test_interface.py b/tests/strategy/test_interface.py
index a5325a680..44a17ac02 100644
--- a/tests/strategy/test_interface.py
+++ b/tests/strategy/test_interface.py
@@ -503,15 +503,15 @@ def test_custom_exit(default_conf, fee, caplog) -> None:
                                enter=False, exit_=False,
                                low=None, high=None)
     assert res.exit_flag is True
-    assert res.exit_type == ExitType.CUSTOM_SELL
-    assert res.exit_reason == 'custom_sell'
+    assert res.exit_type == ExitType.CUSTOM_EXIT
+    assert res.exit_reason == 'custom_exit'
 
     strategy.custom_exit = MagicMock(return_value='hello world')
 
     res = strategy.should_exit(trade, 1, now,
                                enter=False, exit_=False,
                                low=None, high=None)
-    assert res.exit_type == ExitType.CUSTOM_SELL
+    assert res.exit_type == ExitType.CUSTOM_EXIT
     assert res.exit_flag is True
     assert res.exit_reason == 'hello world'
 
@@ -520,7 +520,7 @@ def test_custom_exit(default_conf, fee, caplog) -> None:
     res = strategy.should_exit(trade, 1, now,
                                enter=False, exit_=False,
                                low=None, high=None)
-    assert res.exit_type == ExitType.CUSTOM_SELL
+    assert res.exit_type == ExitType.CUSTOM_EXIT
     assert res.exit_flag is True
     assert res.exit_reason == 'h' * 64
     assert log_has_re('Custom sell reason returned from custom_exit is too long.*', caplog)