Profit Target (Signal)
Definition
The Profit Target strategy uses a built-in PowerLanguage keyword SetProfitTarget. An order to close your entire position is generated once the profit target amount 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. In auto trading, the profit exit limit order is immediately sent into the market to be filled.
The Profit Target strategy generates both long exit and short exit limit orders. T. Check the related articles on Profit Target LX and Profit Target SX.
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.
Amount sets the profit amount (in USD) that must be exceeded before the trailing stop is activated, 5 by default.
