SetPercentTrailing (Reserved Word)

Disclaimer

This is a built-in stop reserved word used to specify the amount of the maximum open position profit you are willing to lose (as a percent) as well as the profit level that must be reached in order for the stop to take effect. The position or contract/share is closed out when the specified percentage of the maximum profit is lost.

SetPercentTrailing(FloorAmnt, Amount)

FloorAmnt is a numeric expression representing the amount of profit to be reached before the stop takes effect. Amount is the percent of the profit you are willing to lose.

  Use with SetStopContract or SetStopPosition.

Strategy

Percent Trailing

Example

In order to place a percentage based trailing stop that exits a position once it has returned 15% of the maximum equity earned after the position has made $500, you would write:

SetStopPosition;

SetPercentTrailing(500, 15);