Entry, Take Profit and Stop Loss🎯

This group of settings allows for precise and visual trade management, enabling you to define and display your exact entry, take-profit, and stop-loss levels directly on your chart.

Entry Price Settings

• Show Entry Price: When enabled, your position's entry price is clearly marked with a dotted line, making it easy to monitor your trade's performance visually.

Take Profit (TP) Levels 📈

The TP levels and their corresponding lines on the chart are designed to work exclusively with the "Percentage" Exit Type.

• Functionality: When Exit Type is set to "Percentage", you can configure up to 6 TP levels where the script will automatically manage exits.

• Visibility: The dashed lines for these TP levels will only appear on the chart when "Percentage" mode is active and "Show TP Prices" is enabled. They will be hidden in all other exit modes.

• How to Configure TP Levels:

  • For each TP level you wish to use, you must first enable the toggle.

  • Set the profit percentage for the level (e.g., 1% for TP1). You can set different percentages for Long and Short trades.

  • Assign the portion of your position to be closed at that level (e.g., 50% of your trade).

Example:

• If you use only one TP level, activate TP1 and set it to 100%.

• If multiple TP levels are used, ensure the sum of percentages equals 100%.

Important: Incorrect setup (sum not equal to 100%) will trigger a warning dialog.

• Long and Short TP:

  • Define different TP percentages specifically for Long (buy) and Short (sell) positions.

Show TP Prices:

• When enabled, displays dashed lines representing TP levels and exact prices clearly marked on your chart.

Stop Loss (SL) 🛑

• Configure your SL separately for Long and Short positions.

Enter a custom percentage to determine your desired stop-loss point clearly.

• Show Stop Loss (SL) Price:

  • Activates a dashed line on your chart showing the exact stop-loss price, visually indicating the maximum allowable loss.

Recommended Usage:

• Always ensure TP level percentages total 100% to avoid configuration errors.

• Clearly define different TP and SL levels for Long and Short positions to effectively manage your risk-reward strategy.

By clearly defining Entry, TP, and SL levels, Infinity Algo assists in disciplined trade management and optimizes your profitability and risk management strategies.