Dollar Trailing

Definition

The Dollar Trailing strategy uses a built-in PowerLanguage stop keyword (SetStopPosition or SetStopShare) to place an order to exit all shares or contracts in all positions, once the position has retraced a specified dollar amount of the position's highest profit value. The retracement or trailing amount can be specified on a total position basis/one contract/one share basis. Whether the profit target amount is based on a position or per share/contract basis is determined by the PositionBasis input. A stop exit order is generated at the highest position profit value minus the trailing amount. All stop orders are stop market orders. If the price falls back to the trailing amount, a market order is generated and sent into the market.

The Dollar Trailing strategy can exit with a profit or loss on the trade. Check the related articles on Dollar Trailing LX and Dollar Trailing SX.

Commission or slippage are not taken into account for strategy calculation.

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.