×

Sign up and get MultiCharts free

Use its powerful simulation mode with data included out of the box. Just fill out the form and start honing your trading skills with a few clicks.

Changes - MultiCharts
Open main menu

Changes

SetStopLoss pt

1,256 bytes added, 23:02, 27 February 2017
Created page with "Closes out the entire position or the entry if the loss reaches the specified tick value; generates the appropriate Stop order depending on whether the position is long or sho..."
Closes out the entire position or the entry if the loss reaches the specified tick value; generates the appropriate Stop order depending on whether the position is long or short.
[[SetStopPosition]] and [[SetStopContract]] or [[SetStopShare]] functions determine whether single stop loss will be applied to the entire position or multiple SetStopLoss_pt orders will be applied to each entry in position individually; by default, stop loss is applied to the entire position.

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

==Usage==
<syntaxhighlight>SetStopLoss_pt(Amount)</syntaxhighlight>

Where:
:'''Amount''' - a numerical expression, specifying the stop loss amount in ticks.

==Notes==
This function can only be used in signals.

SetStopLoss_pt function does not factor in commissions or slippage.

==Example==
Generate an exit order for the entire position if the position loss reaches 100 ticks:
<syntaxhighlight>
SetStopPosition;
SetStopLoss_pt(100); </syntaxhighlight>

Generate an exit order for the entry if the loss per entry reaches 10 ticks:
<syntaxhighlight>
SetStopContract;
SetStopLoss_pt(10); </syntaxhighlight>


[[Category:Strategy Orders]]