Loading…

OnSignal TP V2 – Close

Back to modules

20th of February 2021

Close modules take orders as input and close orders when a condition, based on the settings, are met.

(!) Warning: Use this module when you want to close the order when the order is recovering. This is an uncommon scenario for most users. Most users want the trail to be on the bottom side of the price. In that case, use the OnSignal Trail SL Module.

The OnSignal TP V2– Close module, will wait for the price to go up to the level of where the trail is and then close the order(group). The TP is the value where the order will close when the current price is moving towards (more) profit.

Settings

  • OnSignalTPV2OrderType: the module will only activate for Buy-/ Sell orders, or both, depending on the value you set.
  • OnSignalTPV2Signal: the activation rule. Setting this values works the same as setting your Signals.
  • OnSignalTPV2Value: the position the trail will start.
  • OnSignalTPV2OffsetPipValue: the amount of pips above the OnSignalTPV2Value where you want the trail to start.
  • OnSignalTPV2StepValue: the amount the trail will drop when the loss increases. Let’s assume you put the setting to 1. If the loss increases 1 pip, the trail will move 1 pip down as well.
    Tip: If you want to create a flat TP line you can set it to 0. Now it’s not really trailing, but you created a horizontal TP line.