SetBreakEven pt

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Closes out the entire position or the entry if it is at the breakeven point after the profit has reached the specified tick value; generates the appropriate Stop order depending on whether the position is long or short. SetStopPosition and SetStopContract or SetStopShare functions determine whether single SetBreakEven_pt order will be applied to the entire position or multiple SetBreakEven_pt orders will be applied to each entry in position individually; by default, SetBreakEven_pt is applied to the entire position.

SetBreakEven_pt 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_pt(Profit)

Where:

Profit - a numerical expression, specifying the amount of the profit in ticks that must be reached first

Notes

This function can only be used in signals.

SetBreakEven_pt function does not factor in commissions or slippage.

Example

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

SetStopPosition; 
 
SetBreakEven_pt(50);

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

SetStopContract; 
 
SetBreakEven_pt(10);