Changes
Jump to navigation
Jump to search
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..."
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 ammount 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 ====
<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.
==== Example ====
<syntaxhighlight>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);</syntaxhighlight>
[[Category:Strategy Orders]]
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.
[[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 ====
<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.
==== Example ====
<syntaxhighlight>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);</syntaxhighlight>
[[Category:Strategy Orders]]
