How to use "Leg TSL" keyword?
Leg wise Trailing Stoploss keyword
Using Tradetron you can now build a Trailing Stoploss on each leg of your strategy. In order to add this keyword follow the steps shared below:
Add the entry conditions and positions in your strategy
Search for keyword "leg TSL" in your Universal exit, repair once, set exit.
Click on the keyword and select the name of the instrument and input the location of the same
Select your TSL type:
TSL - Points will calculate all values in points. (not rupees)
TSL - Percentage will calculate all values in %
Now add your "activate at" value
This is the start point of your TSL.
Example: If you bought a PUT at 100 and select 20 points in "activate at", the TSL will begin only when your PUT trades above 120.
Now add your "lock profit at"
This will exit your position if the price moves against you for more than the selected % or points from the activate at level.
Example: If your bought PUT's TSL is activated at 20 points the LTP begins to move below 110, "Lock profit at" will exit at 10 points or 10% in profit.
Now add your "Increase profit by"
This is the minimum move in your favour before which the TSL will be modified.
Now add your "Increase TSL by"
The TSL will move by the points or percentage indicated here.
Leg TSL to be used only if the entry legs will trade once, it will not work for reentries.
This is what your final condition will look like, no need to add comparators, just Leg TSL condition
Video on the topic:
Updated on: 21/11/2022