Take Profit & Stop Loss
Users can set take profits and stop losses orders allowing a certain degree of money management in the backtest. Take profits and stop loss orders can be enabled and adjusted from the FIXED TPS & SLS settings section.
Take profits and stop losses orders are placed relative to the price preceding a trade, and might not be filled at the exact price set by the user.
TP/SL Options
Take profits and stop losses for specific orders can be enabled from the toggles in their settings section. Take profits and stop losses can be set using various methods described below:
| Option | Description |
|---|---|
| Price | Set the take profit/stop loss orders at the specified price. |
| Currency | Set the take profit/stop loss orders a specified amount of currency away from the closing price preceding the entry of a long/short order. |
| Ticks | Set the take profit/stop loss orders a specified amount of ticks away from the closing price preceding the entry of a long/short order. |
| % | Set the take profit/stop loss orders a specified percentage away from the closing price preceding the entry of a long/short order. |
| ATR | Set the take profit/stop loss orders N average true ranges away from the closing price preceding the entry of a long/short order, where N is a specified multiplier. |
| Trailing Stop | (Only available for stop loss orders) Enable a percentage-based trailing stop. A position will be exited if the price reaches the trailing stop. |
The average true range used to set take profits/stop losses orders uses a period of 200 bars.
Trailing Stop
Users can use a percentage-based trailing stop to exit positions. The trailing stop will move in the direction of interest if its distance with the low price (in case of long positions) or high price (in case of short positions) is greater than the specified percentage.
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