Breakeven Stop LX
Definition
A break-even price describes a change of value that corresponds to just covering one's initial investment or cost. Traders may use break-even prices to understand where a securities price must go to make a trade profitable after costs, fees, and taxes have been taken into account.
The Breakeven Stop LX signal generates an exit from a long position. When the profit (for the position or per share) exceeds the breakeven floor, an exit order is generated. The stop in this strategy only takes effect once the specified profit amount is reached. If a trade does not reach the specified profit level, it will not take effect.
Use Breakeven Stop SX for exiting from a short position.
Default Inputs
PositionBasis sets whether the breakeven floor is calculated on a position or per share basis, false by default. To calculate profit per position, enter true.
FloorAmt sets the profit amount (in USD) that must be exceeded before the breakeven stop is activated, 1 by default.
