Difference between revisions of "SetDollarTrailing"
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(Created page with "Closes out the entire position or the entry if the current profit is less than the maximum profit by the specified amount; generates the appropriate Stop order depending on wh...") |
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| − | Closes out the entire position or the entry if the current profit is less than the maximum profit by the specified amount; generates the appropriate Stop order depending on whether the position is | + | Closes out the entire position or the entry if the current profit is less than the maximum profit by the specified amount; generates the appropriate [[Stop]] order depending on whether the position is Long or Short. |
| − | |||
| − | + | For example, if the specified amount is $50 and the profit has reached the maximum of $120, the position will be closed once the profit drops to $70. | |
| − | SetDollarTrailing function is evaluated intra-bar and not only on close of a bar, and can exit within the same bar as the entry. | + | [[SetStopPosition]] and [[SetStopContract]] or [[SetStopShare]] functions determine whether '''SetDollarTrailing''' will be applied to the entire position or to each contract or share individually; by default, '''SetDollarTrailing''' is applied to the entire position. |
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| + | <div style="background-color: #E3FBE5;margin-bottom:10px;">SetDollarTrailing function is evaluated intra-bar and not only on close of a bar, and can exit within the same bar as the entry.</div> | ||
| − | + | == Usage == | |
<syntaxhighlight>SetDollarTrailing(Amount)</syntaxhighlight> | <syntaxhighlight>SetDollarTrailing(Amount)</syntaxhighlight> | ||
| − | Where: | + | Where: |
| + | |||
| + | :'''Amount''' - a numerical expression, specifying the currency value of the maximum loss of profit. | ||
| − | + | == Notes == | |
| − | This function can only be used in signals. | + | * This function can only be used in signals. |
| + | * Use [[SetPercentTrailing]] to set a percentage trailing stop loss. | ||
| − | == | + | == Examples == |
| − | + | Generate an exit order for the entire position if position profit drops by $50: | |
| − | SetStopPosition; | + | <syntaxhighlight>SetStopPosition; |
| − | SetDollarTrailing(50); | + | SetDollarTrailing(50);</syntaxhighlight> |
Generate an exit order for the entry if per contract profit drops by $10: | Generate an exit order for the entry if per contract profit drops by $10: | ||
| − | SetStopContract; | + | <syntaxhighlight>SetStopContract; |
SetDollarTrailing(10);</syntaxhighlight> | SetDollarTrailing(10);</syntaxhighlight> | ||
[[Category:Strategy Orders]] | [[Category:Strategy Orders]] | ||
Latest revision as of 16:46, 19 February 2012
Closes out the entire position or the entry if the current profit is less than the maximum profit by the specified amount; generates the appropriate Stop order depending on whether the position is Long or Short.
For example, if the specified amount is $50 and the profit has reached the maximum of $120, the position will be closed once the profit drops to $70.
SetStopPosition and SetStopContract or SetStopShare functions determine whether SetDollarTrailing will be applied to the entire position or to each contract or share individually; by default, SetDollarTrailing is applied to the entire position.
SetDollarTrailing function is evaluated intra-bar and not only on close of a bar, and can exit within the same bar as the entry.
Usage
SetDollarTrailing(Amount)
Where:
- Amount - a numerical expression, specifying the currency value of the maximum loss of profit.
Notes
- This function can only be used in signals.
- Use SetPercentTrailing to set a percentage trailing stop loss.
Examples
Generate an exit order for the entire position if position profit drops by $50:
SetStopPosition;
SetDollarTrailing(50);
Generate an exit order for the entry if per contract profit drops by $10:
SetStopContract;
SetDollarTrailing(10);
