Profit Target LX
Definition
The Profit Target LX signal 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.
The Profit Target LX sets a profit target in USD per share or per position at which the long exit order will be generated to automatically close the position. The signal will not take effect if that profit level is never reached. The profit value is specified by the Amount input parameter.
This signal generates long exits only. Use Profit Target SX for exiting from a short position.
Default Inputs
Amounts sets the profit amount (in USD) that must be exceeded before the order is placed, 5 by default.
PositionBasis sets whether the profit is calculated on a position or per share basis, false by default. To calculate profit per position, enter true.
