Disclaimer
EasyLanguage Reserved Words & Functions
SetStopPosition is a reserved word that sets the way built-in stops calculate the exit order prices. Each built-in stop command has a parameter for the amount of profit or loss desired, SetStopPosition is simply a switch that changes the behavior of the built-in stop command so that the exit order is calculated on a total position basis, verses a per share / per contract basis, set by the SetStopContract or SetStopShare switches.
SetStopPosition is the default setting for all built-in set commands.
If SetStopShare, SetStopContract, and SetStopPosition are used multiple times, even in different strategies applied to the same chart, the last reference is controlling.
When used with the SetStopLoss built-in exit strategy, Setstopcontract sets the exit order based on a per contract basis.
(if you held 1000 shares of the MSFT and set a $250 stop loss amount, you would exit $0.25 from your entry price with a $250 loss. ($250 / 1000 shares))
SetStopPosition;
SetStopLoss(250);