Scripting Profit Setpoint In Strategy

Atticmonkey81

New member
Hello all,

I am new to the site and thinkscript so I apologize if this is a simple process or if this has been asked before, I did a search but couldn't see anything like what I was looking for. Can a strategy be written to enter a trade based on an indicator (example Supertrend) and have the exit be based off of a preset profit taking setpoint? So if I set the strategy to buy when Supertrend turns bullish, could I set the script to assume I took a .20 profit or stopped out when Supertrend turned bearish?

Thanks in advance.

I am seeing the entryprice function but not sure how to use it, keeps giving an error for "no such variable"
 
Last edited:

Atticmonkey81

New member
So I was able to get the entryprice function to work but now I'm trying to refine it a little bit further. Here is the string that I'm having issues with:

def exit = close > (EntryPrice()+ .20);

Is there a way to have it look at the current price instead of the price at the close of that bar? I am trying to get "pricetype.last" to work but it keeps wanting to error out saying its an incompatible parameter.
 

Mlentsch0

New member
VIP
I’d love to know if you get this to work, I had the same question! How do you get it to auto take a position for you tho if you always have to confirm trade?
 
Last edited by a moderator:

Atticmonkey81

New member
My understanding is that there is no fully automatic trading based on a strategy. I think the best you could do would be to build a study to work with contingent orders. Not certain but that's the way I took it.
 

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