Trailing (SLX)
✔ Learn how to set stop loss trailing on TradingView signal on Binance, OKX, Finandy exchange: traditional price trailing, take profit trailing, settings and actions.
Last updated
✔ Learn how to set stop loss trailing on TradingView signal on Binance, OKX, Finandy exchange: traditional price trailing, take profit trailing, settings and actions.
Last updated
Finandy service offers 2 trailing types:
Trailing Stop Loss at trigger price (traditional trailing)
Trailing Stop Loss at Take Profit
Changing the stop-loss price manually while the SLX module is active will disable the SLX module.
Trailing stop loss principles:
Currency pair price movement
Trailing stop repositioning
Trailing Trigger Points
Dynamic stop points
Stop loss activation
Settings:
Stop Loss is automatically set to breakeven price when specified profit percentage is reached.
Disabled if field is blank.
The Stop Loss order is placed at a certain offset percentage from the breakeven price upon trigger activation in step 1. This feature can increase potential profit when the position is closed by Stop Loss.
If this field is blank, SLX will place an SL order at break-even price when the trigger in step 1 is activated.
Specify profit percentage for Trailing Stop activation. Disables SL module if active.
Disabled if field is blank.
For example, if 0.5 is specified for a long position with a price of 100, Trailing will be activated when the price is above 100.5.
Percentage gap between SL price and current currency pair price.
Currency pair price movements
VARIATION
Trailing stop activation
Dynamic stop points
Price movement controlled by SLX module for Stop orders
Position closing
Stop Loss follows the trend for Long positions when moving up and remains fixed when moving down.
For Short positions, the Stop Loss follows the trend when moving down and remains fixed when moving up.
Minimum percentage difference between current and new price required for Stop Loss movement when trigger is activated.
Currency pair price movement
Previous Stop Loss price
New Stop Loss price
Stop Loss relocation event
Minimum relocation step - distance equal to or greater than the minimum Stop Loss step
SL variations occur discreetly, no more than 0.02% of current price. For example, if a variation occurred at a price of 100, the next variation will occur when the price reaches 100.02.
If position volume is below the specified value, Trailing will not be activated and SL will not be adjusted to Breakeven.
In this example, SLX module will set the stop loss to breakeven or start trailing only if the position size is overs 100.
1. Market buy for 50 USDT volume.
PnL | Position volume | Trailing |
0% | 50 USDT | - |
2. Currency pair price increased, and trailing failed to start as position size was lower than the specified value.
PnL | Position volume | Trailing |
1% | 50 USDT | - |
3. Position averaged out, but trailing stop still inactive as profit has not reached the set trigger.
PnL | Position volume | Trailing |
0.4% | 200 USDT | - |
4. Currency pair price has increased and trailing has been activated.
PnL | Position volume | Trailing |
0.7% | 200 USDT | ✅ |
Current price - follows currency pair current price.
Order book - follows best bid/ask price in the order book. Protects against false price movements (squeezes).
Candle Timeframe - SL is moved if candle's closing price deviates a certain percentage from the specified timeframe.
When placing a SL at breakeven level, averaging orders will be canceled or remain unchanged.
Parameter | Description |
Disabled(default) | Averaging orders will remain active and NOT be canceled when the SLX module is enabled. |
Cancel #CA | All averaging orders will be cancelled when the SLX module is enabled. |
The module creates or repositions a Stop Loss when a Take Profit order is executed on a position.
When № Take Profit is executed, it moves to Break-even Point and continues to follow the executed Take Profit (if specified in set point #2).
For example, If you activate Break-Even (BE) at 1 TP execution, the module will cancel current Stop Loss (SL) after the first TP is executed and set a new SL at the original break-even price.
Once activated, each executed Take Profit will move Stop Loss closer to the trend based on table´s algorithm. If deactivated, Stop Loss will be set at break-even position´s price and will not be adjusted.
Assuming activation occurs from the second TP, the module will perform the same actions for any other TP that triggers it.
Event | Action |
Executed ТP #2 | SLX module cancels all existing SLs and sets a new SL at break-even price with the specified order type. |
Executed ТP #3 | Cancels current SL, and set new SL at executed TP #1 price. |
Executed ТP #4 | Cancels current SL, and set new SL at executed TP #2 price. |
etc | ...and so on. |
When placing a SL at breakeven level, averaging orders will be canceled or remain unchanged.
Parameter | Description |
Disabled(default) | Averaging orders will remain active and NOT be canceled when the SLX module is enabled. |
Cancel #CA | All averaging orders will be cancelled when the SLX module is enabled. |
If enabled, SLX module will move the SL order only when there are profits in the position. If disabled, SLX module will move SL orders regardless of profit or loss.
SLX activation is performed relative to the breakeven level for the position, but without funding. In case of negative funding for a position, closing a position through the SLX module may result in a loss. In the case of a long stay in a position, the influence of deduction/accrual for funding on the middle line is controlled by the trader independently.
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