Take Profit (TP)

✔ Learn how to set Take Profit on TradingView signal on Binance, OKX, Finandy: automatic creation after averaging, order types, number of orders and their distribution.

TP module creates one or more Take Profit orders automatically.

You can preview and move the Take Profit on the chart when creating a position.

Settings:

1. Enabled

Enabling this feature automatically adds one or more Take Profit orders upon opening a position.

2. Order type

Order types

3. Number of orders

User sets the number of Take Profit orders.

Combining the SLX module with multiple TP orders can optimize profits while adjusting Stop Loss based on executed TP's.

Trailing (SLX)

4. Price offset/ fixed price

Price offset, %. Take profits will be placed at a distance specified in % from the position price.
Fixed Price Take profits will be placed at specified prices.

5. Order price or price offset in %

Fixed price or % offset for Take Profit determined by choice in item 4.

6. Order distribution by token number as %

Token quantities are evenly distributed by default.

7. Level reordering

✅ Enabled
After averaging, TP orders will be cancelled and new ones will be created with an increased quantity at the same distance as before averaging.
‌🚫 Disabled
After averaging, TP will be canceled and new TP orders will be created with an increased quantity at the same price as before averaging.

TP reordering example:

A Long position had one TP order at +1% level from its price, prior to averaging.
After averaging, the position price dropped, and TP distance increased by 3%.
The system cancels previous TP order and creates a new one with an increased quantity, bringing the distance to position level back to +1%, as before averaging.