Candle distance
Last updated
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Last updated
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This feature allows you to risk always the same amount of capital or USD, just like the Risk %/ capital or Risk constant USD. However, in addition you can consider the previous highs/lows of the selected period.
If you want to lose a maximum of 1000$ on a long position with a stop loss 5% below the low of the last daily candle, the bot will size accordingly.
Ex:
The bot open a long position at 28 961$. The stop loss is set at 24 075$, which is 5% below the low of the last daily candle, considering the wick, or 16.89% below the entry price.
To size accordingly, and only risk a maximum of 1000 USD if the stop is triggered, the bot will adjust and open a position of 5920$ ((1000*100)/16,89%).
You can also set a stop loss below or above the highs/lows looking at the ATR instead of a %, it will consider current ATR value and parameters at the entry time.
