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SetDollarTrailing

152 bytes added, 16:43, 19 February 2012
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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 long [[Long]] or short. For example, if the specified ammount is $50 and the profit has reached the maximum of $120, the position will be closed once the profit drops to $70[[Short]].
[[SetStopPosition]] For example, if the specified amount is $50 and [[SetStopContract]] or [[SetStopShare]] functions determine whether SetDollarTrailing the profit has reached the maximum of $120, the position will be applied to closed once the entire position or profit drops to each contract or share individually; by default, SetDollarTrailing is applied to the entire position$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. <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>
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.
==== Example ==Examples ==
Generate an exit order for the entire position if position profit drops by $50:

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