Disclaimer
EasyLanguage Reserved Words & Functions
SetStopShare is a reserved word that sets the way built-in stops calculate the exit order prices. Each built-in stop reserved word has a parameter for the amount of profit or loss desired, SetStopShare is simply a switch that changes the behavior of the built-in stops so that the exit order is calculated on a per share/contract basis, otherwise the exit order is calculated on a total position basis.
SetStopShare is synonymous with SetStopContract.
If SetStopShare, SetStopContract, and SetStopPosiiton 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, SetStopShare sets the exit order based on a per share/contract basis.
(if you held 1000 shares of the MSFT and set a $0.25 stop loss amount, you would exit $0.25 from your entry price with a $250 loss. ($0.25 x 1000 shares))
SetStopShare;
SetStopLoss(.25);
When used with a Forex symbol, such as EURUSD, a share refers to a currency unit.
Buy100,000 shares next bar at market;
SetStopShare;
SetStopLoss(.001);
This example enters into a position of 100,000 shares and then attempts to exit based on a stop loss of .001 per share, which for this Forex symbol would be a stop loss of $100 ($.001/share * 100,000 shares).