SetStopLoss pt

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Closes out the entire position or the entry if the loss reaches 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 stop loss will be applied to the entire position or multiple SetStopLoss_pt orders will be applied to each entry in position individually; by default, stop loss is applied to the entire position.

SetStopLoss_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

SetStopLoss_pt(Amount)

Where:

Amount - a numerical expression, specifying the stop loss amount in ticks.

Notes

This function can only be used in signals.

SetStopLoss_pt function does not factor in commissions or slippage.

Example

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

SetStopPosition; 
SetStopLoss_pt(100);

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

SetStopContract; 
SetStopLoss_pt(10);