TP/SL Points

The TP/SL Points feature displays 4 take profits/stop losses levels and aims to help the user set stop losses and take profits by estimating points of potential support/resistance. When the price significantly deviates from the highest take profit or lowest stop loss, these will update.

Take-profit/stop-loss levels are based on the user selected signal mode and the most recent signal, if the most recent signal is a bullish signal (whether it is a Confirmation or Contrarian signal) take profits will be located above the price, while stop losses will be located below the price.

When None is selected as signal mode any level can be used as take profits or stop losses.

Take profits/stop losses can be enabled from the advanced settings. The second drop-down menu at the right determines the distance between each point and ranges from 1 to 10.

tip

Make sure to adjust this setting according to the price variations you are trading. If you are trading large price variations, use a higher setting value.

Plots for the minor take profit and stop loss are available in order for users to set alerts based on them. Use placeholder {{plot("Take Profit 1"}} for take profit and {{plot("Stop Loss 1"}} for stop loss.

caution

CFTC Rule 4.41 - Hypothetical or Simulated performance results have certain limitations, unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.