Entry and stop loss price strategy
You will need to define the Stop Loss strategy, i.e., how the system will calcullate the level where to put the stop loss. There are two strategies that are common to either the Stop Loss and the Take Profit price.
- 1 – ENTRY_EXIT_HIGH_LOW
- 2 – ENTRY_EXIT_OPEN_CLOSE
The third strategy applies only to stop loss price and is:
- 3 -EXIT_FIBO_LEVEL
When you use the EXIT_FIBO_LEVEL strategy for stop losses you will specify where to place the slop loss relative to the last candle, the candle that triggered the trade. For example, you may want to put your stop loss at the bottom or top 38% of the candle.
|Parameter Name||Parameter Type||Description||Default value/allowed values|
|entry_price_strategy||int||Calculate entry level||1 or 2, see above|
|stop_loss_price_strategy||int||Calculate stop loss level||1, 2 or 3 see above|
|stop_loss_fibo_level||int||If stop loss is calculated using 3, the this is the level where to place the stop loss.||0.382|