SetPercentTrailing: Difference between revisions
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Closes out the entire position or the entry if the specified percentage of the maximum profit is lost after the profit has reached the specified value; generates the appropriate [[Stop]] order depending on whether the position is | Closes out the entire position or the entry if the specified percentage of the maximum profit is lost after the profit has reached the specified value; generates the appropriate [[Stop]] order depending on whether the position is Long or Short. | ||
For example, if the specified profit is $100 and the specified percentage is 50, and the profit has reached the maximum of $120, the position will be closed once the profit falls back to $60. | For example, if the specified profit is $100 and the specified percentage is 50, and the profit has reached the maximum of $120, the position will be closed once the profit falls back to $60. |
Latest revision as of 16:46, 19 February 2012
Closes out the entire position or the entry if the specified percentage of the maximum profit is lost after the profit has reached the specified value; generates the appropriate Stop order depending on whether the position is Long or Short.
For example, if the specified profit is $100 and the specified percentage is 50, and the profit has reached the maximum of $120, the position will be closed once the profit falls back to $60.
SetStopPosition and SetStopContract or SetStopShare functions determine whether SetPercentTrailing will be applied to the entire position or each contract or share individually; by default, SetPercentTrailing is applied to the entire position.
Usage
SetPercentTrailing(Profit, Percentage)
Where:
- Profit - a numerical expression, specifying the currency value of the profit that must be reached first.
- Percentage - a numerical expression, specifying the maximum loss of profit in percent.
Notes
- This function can only be used in signals.
- Use SetStopLoss to set a stop-loss for a position or SetProfitTarget to set a profit target.
- Use SetDollarTrailing for a fixed-amount currency trailing stop.
Examples
Generate an exit order for the entire position if 50 percent of maximum position profit is lost after the profit has reached $25:
SetStopPosition;
SetPercentTrailing(25, 50);
Generate an exit order for the entry if 25 percent of maximum per share profit is lost after the profit has reached $5:
SetStopShare;
SetPercentTrailing(5, 25);