SetBreakEven

From MultiCharts
Jump to: navigation, search

Closes out the entire position or the entry if it is at the break even point after the profit has reached the specified value; generates the appropriate Stop order depending on whether the position is Long or Short.

SetStopPosition and SetStopContract or SetStopShare functions determine whether SetBreakEven will be applied to the entire position or to each contract or share individually; by default, SetBreakEven is applied to the entire position.

SetBreakEven function is evaluated intra-bar and not only on close of a bar, and can exit within the same bar as the entry.

Usage

SetBreakEven(Profit)

Where:

Profit - a numerical expression, specifying the currency value of the profit that must be reached first.

Notes

  • This function can only be used in signals.
  • The SetBreakEven function does not factor in commissions or slippage.

Examples

Generate an exit order for the entire position if it is at the breakeven point after position profit has reached $50:

SetStopPosition; 
 
SetBreakEven(50);

Generate an exit order for the entry if it is at the breakeven point after per contract profit has reached $10:

SetStopContract; 
 
SetBreakEven(10);