ATR multiple: Set the 3 Take Profit levels based on ATR multiple values Distance value: for instance, setting the value for BTC/USD TP1 target 200, sets the TP1 level 200 USD away, from the entry price. Price value: for instance, setting the value for Bitcoin TP1 target 10000, sets the TP1 level at that price level. Percentage: for instance, setting the % TP1 to 2% will set the TP1 level 2% away from the entry price. You can manage up to 3 take profit levels based either on percentage or price value target. Then when the TP2 is hit, the SL is moved to the previous TP1 position.Īnd when TP3 is hit, the SL is moved to the previous TP2 level. When the TP1 is hit, the stop-loss will be moved to the Entry price (also called breakeven). The stop-loss is set 2% away when the trades starts. Use TP Trailing : This is a very remarkable feature. Once the move will be 100 pips profitable (aka 100 pips above the entry price), the stop level will be trailed from this trigger level of entry_price + 100 pips. Set the entry stop 50 pips below the entry ) value.įor instance for a LONG entry, Entry Stop pips = 50 and Stop Loss (Pips trailing) = 100 will: Then it needs a trailing in pips (or fiat like EUR, USD. Your pips trailing needs an Entry-Stop value - basically the stop value when the entry signal appears. Pips Trailing : This one is a unique trailing-stop we invented. Fixed Distance Value: Set the Stop-Loss at a fixed points/pips distance value (example for a LONG: 100 sets the stop level 100 pips below the entry price). Fixed Price Value: Set the Stop-Loss at a fixed position (value should be in currency/units of value/price level on the chart) Now using 100 as example for the options below: ATR Multiple: Set the Stop-Loss 2 times the ATR value below the entry price. Percentage : The Stop-Loss stays static 2% away from the entry price. % Trailing : The Stop-Loss starts 2% away from the entry price - and will move up (because we're on a BUY trade as per our example) every time your trade will gain 2% profit This is NOT a recommendation at all, only an example to explain how this feature works. And solely use the included hard-exit as the Stop-Loss signal.įor what's following, let's assume that 2 is the stop-loss percentage value you inserted in the indicator and the Algorithm Builder gives a BUY signal. Selecting the Default option means the trader doesn't use a custom Stop-Loss. Connect any indicator to your Algorithm Builder - Single.Connect any indicator to your Algorithm Builder. BEST Algorithmic Supports and Resistances.TradingView Dynamic Alerts and our indicators.Earn recurring passive income with our affiliates program.Update your indicator to be compatible with our Plug&Play scripts. Why a Plug & Play system can save you a lot of time and money.Why the BTI ALgo Global is a MUST for your trading. How to install a custom indicator on TradingView.Trading frameworks and their timeframes.
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