Fixed Percent Stop Loss & Take Profit % - For Study Scripts

Fixed Percent Stop Loss & Take Profit % - { FOR STUDY SCRIPTS! }

A neat example of how to set up Fixed Stops and Take Profit as a percent of the entry price - This is for setting Alerts within your own Study Script for when either your SL or TP get hit.
Yup, that's about it!

You can ignore the actual entry/exit orders - they're based on a simple MA cross and are therefore NOT relevant, NOT profitable and NOT recommended!

You should be using this code as a way of adding Stops and Takes to your own scripts - hope it helps!

Set your "Open Long/Short" Alerts to be triggered "Once per Bar Close" - Set your "SL/TP" Alerts to trigger "Once per Bar".


We wrote this with a bit of a rush on! ~ If you spot any mistakes/bugs just let us know and we'll get round to them asap!


Good Luck and Happy Trading!

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In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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