SetProfitTarget

Closes out the entire position or the entry if profit reaches the specified currency value; generates the appropriate Limit exit order depending on whether the position is long or short.

SetStopPosition and SetStopContract or SetStopShare functions determine whether the profit target will be applied to the entire position or to each contract or share individually; by default, profit target is applied to the entire position.

The SetProfitTarget function is evaluated intra-bar and not only on close of a bar, and can exit within the same bar as the entry.

Usage

SetProfitTarget(Amount)

Where:

Amount - a numerical expression, specifying the profit target amount.

Notes

• This function can only be used in signals.
• Use SetStopLoss to set a stop-loss for a position.
• Use SetPercentTrailing to set a percentage trailing stop loss, or use SetDollarTrailing for a fixed-amount currency trailing stop.

Examples

Generate an exit order for the entire position if the position profit reaches $100:

SetStopPosition; 

SetProfitTarget(100);

Generate an exit order for the entry if the profit per contract reaches $10:

SetStopContract; 

SetProfitTarget(10);