Sirs,
Following Para is lifted from Zerodha Zconnect WebPage:
" Instead of having a fixed stop loss, if you want the stop loss to trail, that is automatically go up/down when the contract moves in your direction, click on trailing SL and along with the SL mention trailing ticks. Trailing ticks will be the movement of the contract/stock for which the SL will change.
Let me explain this with an example, Nifty is at 6807, I decide to short expecting some retracement, my target is 400 ticks (20 points – 6787) and stop loss is 200 ticks (10 points – 6817).
If I choose Trailing Stoploss of 200 ticks(10 points) and select Trailing ticks as 40 (2 points). What this would mean is that when Nifty moves from 6807 to 6805 (2 points movement in your direction), automatically the stop will go from 6817 to 6815, similarly if Nifty goes from 6807 to 6804, the stop loss would also move to 6814. So if I had used a trailing SL, when markets went to 6790 my SL would now have been 6800 which would get executed on the way up and conserving my profits. "
Is it Possible to Code (or already available) an AFL wid the EXACT above Conditions (preferably in Points Mode ) which wud Generate SELL / COVER Signals when the above conditions r met.
Thank U All
...Shiraj....
Following Para is lifted from Zerodha Zconnect WebPage:
" Instead of having a fixed stop loss, if you want the stop loss to trail, that is automatically go up/down when the contract moves in your direction, click on trailing SL and along with the SL mention trailing ticks. Trailing ticks will be the movement of the contract/stock for which the SL will change.
Let me explain this with an example, Nifty is at 6807, I decide to short expecting some retracement, my target is 400 ticks (20 points – 6787) and stop loss is 200 ticks (10 points – 6817).
If I choose Trailing Stoploss of 200 ticks(10 points) and select Trailing ticks as 40 (2 points). What this would mean is that when Nifty moves from 6807 to 6805 (2 points movement in your direction), automatically the stop will go from 6817 to 6815, similarly if Nifty goes from 6807 to 6804, the stop loss would also move to 6814. So if I had used a trailing SL, when markets went to 6790 my SL would now have been 6800 which would get executed on the way up and conserving my profits. "
Is it Possible to Code (or already available) an AFL wid the EXACT above Conditions (preferably in Points Mode ) which wud Generate SELL / COVER Signals when the above conditions r met.
Thank U All
...Shiraj....
