Changes
Jump to navigation
Jump to search
Created page with "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 appropria..."
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.
SetPercentTrailing 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>SetPercentTrailing(Profit,Percentage)</syntaxhighlight>
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.
==== Example ====
<syntaxhighlight>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);</syntaxhighlight>
[[Category:Strategy Orders]]
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.
SetPercentTrailing 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>SetPercentTrailing(Profit,Percentage)</syntaxhighlight>
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.
==== Example ====
<syntaxhighlight>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);</syntaxhighlight>
[[Category:Strategy Orders]]
