SetPercentTrailing: Difference between revisions
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[[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. | [[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. | ||
<div style="background-color: # | <div style="background-color: #E3FBE5;margin-bottom:10px;">The SetPercentTrailing function is evaluated intra-bar and not only on close of a bar, and can exit within the same bar as the entry.</div> | ||
== Usage == | == Usage == |
Revision as of 16:40, 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);