11 Aug 2018
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This snippet demonstrates how to set a stop loss order in ProBuilder, specifically setting it to a very high threshold to effectively disable it under normal trading conditions. The code sets the stop loss percentage to 100%, meaning the stop will only trigger if the instrument’s value drops to zero.
SET Stop %Loss 100Explanation of the Code:
- SET Stop %Loss 100: This line of code is used to define a stop loss order. The stop loss is set as a percentage of the price at which the order was placed. In this case, setting it to 100% effectively means that the stop loss condition will only be met if the price of the instrument falls to zero. This is a way to set a stop loss that is unlikely to be triggered, essentially acting as if there is no stop loss.
This approach might be used in scenarios where a trader wants to maintain an open position without an active stop loss under normal market conditions, but still have a safety mechanism in case of a complete price collapse.
Related Post
Check out this related content for more information:
https://www.prorealcode.com/topic/how-do-you-clear-stop-orders/#post-73384
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