SetProfitTarget pt

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Closes out the entire position or the entry if profit reaches the specified tick value; generates the appropriate Limit exit order depending on whether the position is long or short. SetStopPosition and SetStopContract or SetStopShare functions determine whether single profit target order will be applied to the entire position or multiple SetProfitTarget_pt orders will be applied to each entry in position individualy; by default, profit target is applied to the entire position.

SetProfitTarget_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

SetProfitTarget_pt(Amount)

Where:

Amount - a numerical expression, specifying the profit target amount in ticks.

Notes

This function can only be used in signals.

SetProfitTarget_pt function does not factor in commissions or slippage.

Example

Generate an exit order for the entire position if the position profit reaches 100 ticks:

SetStopPosition; 
 
SetProfitTarget_pt(100);

Generate an exit order for the entry if the profit per entry reaches 10 ticks:

SetStopContract; 
 
SetProfitTarget_pt(10);