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Take Profit

In this chapter the implemented take profit algorithms and how to trade them is described.

Take profit algorithm are very similar to stop loss ones, described in the previous chapter. A strict definition is given for the take profit. How to gather their outcome in form of charts and tables is explained. Finally, the list of implemented take profit algorithms is given.

Take Profit


Most of the things related to stop loss algorithms apply to take profit, too, with the appropriate dual considerations. Oftentimes, it is as easy as swapping the words stop loss with take profit. So, refer to the Stop Loss chapter, the previous one. Here just the differences with respect to the stop loss algorithms are pointed out.

Strict Definition of Take Profit

Strict Definition of Take Profit Here in Trading Conceiver, the take profit algorithms are always intended as level breakouts. Hence, a take profit level must be defined. The level depends upon the open position. If it is a long position, the level is above the price; if it is a short position, the level is below the price. The level is violated when the price goes above it during a long position or below it during a short position. If the level is violated, the take profit is triggered, signaling a liquidate order, i.e. to close the position.

The Take profit Branch

Expand the Take profit Branch To view the implemented take profit algorithms, in the Composer tab select the branch: 
  Take profit

The Description Pane

Refer to the Stop Loss chapter.

How to Trade a Take Profit

Refer to the Stop Loss chapter.

Take profits are never trailing.

In Charts

Take Profit in Charts
The Take Profit Level
In order to watch take profit levels, in the Charts window you must select the 
  Take profit
checkbox in the Plot pane. The colors of the curves are determined by the two buttons 
  TP1
  TP2
in the Colors pane.
How to See When It Is Triggered
Refer to the Stop Loss chapter.

In Table

Refer to the Stop Loss chapter.
Show the Data
Take Profit in Table If you want to watch the take profit algorithms, in the Table window you must select the 
  Take profit
checkbox in the Composer pane.
Colors
Colors The colors of the headers and of the background for the logical combination of the tab is determined by the 
  TP
button, in the Combined pane.

Implemented Take Profit Algorithms

The following take profit algorithms are implemented:

Fixed amount:
  • Fixed amount take profit
  • Fixed percentage take profit

Volatility based:
  • ATR based take profit
  • Bollinger Band width based take profit
  • Daily range based take profit
  • Donchian channel width based take profit
  • Highest high / lowest low width based take profit
  • Keltner channel width based take profit
  • Standard deviation based take profit