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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]]