Stop Losing Money: This Pine Script Threshold Will Change Your Life

Two take profit targets moving stop loss to entry after first take profit hit this strategy shows a method to achieve the following trade management: 1) open a position with two take. We will now build on that script and set specific stop losses and take profits instead of waiting for crossovers to happen to reverse the trade. To keep this simple, we will use the. By placing orders at different price levels, traders can strategically enter or exit.

It enters a long position when the mfi is below a. Learn how to set a stop loss and take profit properly and efficiently in pine script with this tutorial. We cover a couple of methods in detail and highlight potential coding errors. Stop parameter in strategy. exit() sets sl price: Stop (series int/float) an optional parameter. Stop loss (requires a specific price). if it is specified, a stop order is placed to exit.