Percent Trailing

Definition

The Percent Trailing strategy uses a built-in PowerLanguage stop keyword SetPercentTrailing to place an order to exit all shares or contracts in all positions, once the position has retraced a specified percentage amount of the position's highest profit value, once a profit floor amount in dollars has been reached. The retracement 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. All stop orders are stop market orders. If the price falls back to the trailing profit percentage amount, a market order is generated and sent into the market.

The Percent Trailing strategy generates a stop exit order at the highest position profit value minus the trailing percentage amount. The Percent Trailing strategy can exit with a profit or loss on the trade, once the floor has been reached. Check the related articles on Percent Trailing LX and Percent 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 trailing stop is activated, 1 by default.

TrailingPct sets the trailing amount (in %) of the maximum position profit at which point the position will be closed, 20 by default.