SetStopLoss: Difference between revisions
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Closes out the entire position or the entry if the loss reaches the specified currency value; generates the appropriate Stop order depending on whether the position is long or short. | Closes out the entire position or the entry if the loss reaches the specified currency value; generates the appropriate [[Stop]] order depending on whether the position is long or short. | ||
[[SetStopPosition]] and [[SetStopContract]] or [[SetStopShare]] functions determine whether the | The [[SetStopPosition]] and [[SetStopContract]] or [[SetStopShare]] functions determine whether the '''SetStopLoss''' function will be applied to the entire position or to each contract or share individually; by default, '''SetStopLoss''' is applied to the entire position. | ||
SetStopLoss function is evaluated intra-bar and not only on close of a bar, and can exit within the same bar as the entry. | <div style="background-color: #E3FBE5;margin-bottom:10px;">The SetStopLoss 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 == | |||
<syntaxhighlight>SetStopLoss(Amount)</syntaxhighlight> | <syntaxhighlight>SetStopLoss(Amount)</syntaxhighlight> | ||
Where: | Where: | ||
:'''Amount''' - a numerical expression, specifying the stop loss amount. | |||
== Notes == | |||
This function can only be used in signals. | * This function can only be used in signals. | ||
== | == Examples == | ||
Generate an exit order for the entire position if the position loss reaches $100: | |||
<syntaxhighlight>SetStopPosition; | |||
SetStopLoss(100);</syntaxhighlight> | |||
Generate an exit order for the entry if the loss per contract reaches $10: | Generate an exit order for the entry if the loss per contract reaches $10: | ||
SetStopContract; | <syntaxhighlight>SetStopContract; | ||
SetStopLoss(10);</syntaxhighlight> | SetStopLoss(10);</syntaxhighlight> | ||
[[Category:Strategy Orders]] | [[Category:Strategy Orders]] |