Difference between revisions of "SetPercentTrailing"
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− | Closes out the entire position or the entry if the specified percentage of the maximum profit is lost after the profit has reached the specified value; generates the appropriate Stop order depending on whether the position is | + | Closes out the entire position or the entry if the specified percentage of the maximum profit is lost after the profit has reached the specified value; generates the appropriate [[Stop]] order depending on whether the position is [[Long]] or [[Short]]. |
For example, if the specified profit is $100 and the specified percentage is 50, and the profit has reached the maximum of $120, the position will be closed once the profit falls back to $60. | For example, if the specified profit is $100 and the specified percentage is 50, and the profit has reached the maximum of $120, the position will be closed once the profit falls back to $60. | ||
− | [[SetStopPosition]] and [[SetStopContract]] or [[SetStopShare]] functions determine whether SetPercentTrailing will be applied to the entire position or each contract or share individually; by default, SetPercentTrailing is applied to the entire position. | + | [[SetStopPosition]] and [[SetStopContract]] or [[SetStopShare]] functions determine whether '''SetPercentTrailing''' will be applied to the entire position or each contract or share individually; by default, '''SetPercentTrailing''' is applied to the entire position. |
− | SetPercentTrailing function is evaluated intra-bar and not only on close of a bar, and can exit within the same bar as the entry. | + | <div style="background-color: #C1FFC1;margin-bottom:10px;">The SetPercentTrailing 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>SetPercentTrailing(Profit,Percentage)</syntaxhighlight> | + | <syntaxhighlight>SetPercentTrailing(Profit, Percentage)</syntaxhighlight> |
− | Where: | + | Where: |
− | + | ||
− | + | :'''Profit''' - a numerical expression, specifying the currency value of the profit that must be reached first. | |
+ | :'''Percentage''' - a numerical expression, specifying the maximum loss of profit in percent. | ||
− | + | == Notes == | |
− | This function can only be used in signals. | + | * This function can only be used in signals. |
+ | * Use [[SetStopLoss]] to set a stop-loss for a position or [[SetProfitTarget]] to set a profit target. | ||
+ | * Use [[SetDollarTrailing]] for a fixed-amount currency trailing stop. | ||
− | == | + | == Examples == |
− | Generate an exit order for the entire position if 50 percent of maximum position profit is lost | + | Generate an exit order for the entire position if 50 percent of maximum position profit is lost after the profit has reached $25: |
− | after the profit has reached $25: | ||
<syntaxhighlight>SetStopPosition; | <syntaxhighlight>SetStopPosition; | ||
− | SetPercentTrailing(25,50);</syntaxhighlight> | + | SetPercentTrailing(25, 50);</syntaxhighlight> |
− | Generate an exit order for the entry if 25 percent of maximum per share profit is lost after the | + | Generate an exit order for the entry if 25 percent of maximum per share profit is lost after the profit has reached $5: |
− | profit has reached $5: | ||
<syntaxhighlight>SetStopShare; | <syntaxhighlight>SetStopShare; | ||
− | SetPercentTrailing(5,25);</syntaxhighlight> | + | SetPercentTrailing(5, 25);</syntaxhighlight> |
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− | |||
− | |||
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[[Category:Strategy Orders]] | [[Category:Strategy Orders]] |
Revision as of 16:37, 19 February 2012
Closes out the entire position or the entry if the specified percentage of the maximum profit is lost after the profit has reached the specified value; generates the appropriate Stop order depending on whether the position is Long or Short.
For example, if the specified profit is $100 and the specified percentage is 50, and the profit has reached the maximum of $120, the position will be closed once the profit falls back to $60.
SetStopPosition and SetStopContract or SetStopShare functions determine whether SetPercentTrailing will be applied to the entire position or each contract or share individually; by default, SetPercentTrailing is applied to the entire position.
Usage
SetPercentTrailing(Profit, Percentage)
Where:
- Profit - a numerical expression, specifying the currency value of the profit that must be reached first.
- Percentage - a numerical expression, specifying the maximum loss of profit in percent.
Notes
- This function can only be used in signals.
- Use SetStopLoss to set a stop-loss for a position or SetProfitTarget to set a profit target.
- Use SetDollarTrailing for a fixed-amount currency trailing stop.
Examples
Generate an exit order for the entire position if 50 percent of maximum position profit is lost after the profit has reached $25:
SetStopPosition;
SetPercentTrailing(25, 50);
Generate an exit order for the entry if 25 percent of maximum per share profit is lost after the profit has reached $5:
SetStopShare;
SetPercentTrailing(5, 25);