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Created page with "Closes out the entire position or the entry if the loss reaches the specified currency value; generates the appropriate Stop order depending on whether the position is long or..."
Closes out the entire position or the entry if the loss reaches the specified currency value; generates the appropriate Stop order depending on whether the position is long or short.
[[SetStopPosition]] and [[SetStopContract]] or [[SetStopShare]] functions determine whether the stop loss will be applied to the entire position or to each contract or share individually; by default, stop loss is applied to the entire position.
SetStopLoss 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(Amount)</syntaxhighlight>
Where: [[Amount]] - a numerical expression, specifying the stop loss amount
==== Notes ====
This function can only be used in signals.
==== Example ====
<syntaxhighlight>Generate an exit order for the entire position if the position loss reaches $100:
SetStopPosition;
SetStopLoss(100);
Generate an exit order for the entry if the loss per contract reaches $10:
SetStopContract;
SetStopLoss(10);</syntaxhighlight>
[[Category:Strategy Orders]]
[[SetStopPosition]] and [[SetStopContract]] or [[SetStopShare]] functions determine whether the stop loss will be applied to the entire position or to each contract or share individually; by default, stop loss is applied to the entire position.
SetStopLoss 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(Amount)</syntaxhighlight>
Where: [[Amount]] - a numerical expression, specifying the stop loss amount
==== Notes ====
This function can only be used in signals.
==== Example ====
<syntaxhighlight>Generate an exit order for the entire position if the position loss reaches $100:
SetStopPosition;
SetStopLoss(100);
Generate an exit order for the entry if the loss per contract reaches $10:
SetStopContract;
SetStopLoss(10);</syntaxhighlight>
[[Category:Strategy Orders]]
