TradeLocker Update: Advanced Stop Loss & Take Profit for Automated Trading

We are excited to introduce a major upgrade to the TradeLocker integration – a fully flexible Stop Loss (SL) and Take Profit (TP) system. Now, traders can set SL and TP based on either absolute price levels or offset values (pips/ticks).

This update opens up new opportunities for automated trading strategies that rely on indicator alerts, enabling precise trade execution with pre-defined risk management.

🚀 Why This Matters for Automated Trading?

Many traders use TradingView alerts or other signal-based strategies to automate trades. With the new SL/TP flexibility, you can now:

Eliminates human errors and emotions: With automation, traders can avoid emotional decisions, such as prematurely closing positions due to fear or holding on to trades out of greed.
Optimizes trade execution: Automated algorithms execute trades faster than humans, which is especially important for high-frequency strategies.
Allows simultaneous management of multiple accounts: AlgoWay Connector enables the execution of identical trading decisions across multiple platforms and accounts simultaneously.

Key Strategies in Algorithmic Trading

Trend Following: Indicators like moving averages and RSI are used to identify trends and determine entry and exit points. AlgoWay allows you to use strategies created in TradingView and automate them on other platforms like MetaTrader and cTrader.
Arbitrage: Involves exploiting price differences in a single asset across different markets. AlgoWay supports arbitrage strategies, allowing traders to buy assets on one platform and sell them on another to profit from price discrepancies.
Momentum Trading: Based on price moving rapidly in one direction. AlgoWay automates trade execution during moments of high market momentum with TradingView alerts.
Scalping: Aims to make small profits from short-term price fluctuations. AlgoWay helps execute these trades quickly and automatically, which is critical for this strategy.

🚀 Why This Matters for Automated Trading?

Many traders use TradingView alerts or other signal-based strategies to automate trades. With the new SL/TP flexibility, you can now:

✅ Attach dynamic SL/TP to buy and sell alerts
✅ Use fixed price levels or pips-based SL/TP values
✅ Ensure accurate stop placement based on indicator triggers
✅ Run fully automated strategies with pre-set risk parameters

This means any indicator that generates buy/sell alerts can now send trades with built-in SL/TP, making automated trading safer and more precise.

📌 How SL/TP Works Now

You can set Stop Loss (SL) and Take Profit (TP) in two ways:

Absolute Mode (absolute) – Defines SL/TP as fixed price levels (e.g., sl_price=0.8005).
Offset Mode (offset) – Defines SL/TP as pips/ticks from the entry price (e.g., stop_loss=15).

TradeLocker automatically selects the correct mode:

If sl_price or tp_price is provided → absolute mode is used.
If stop_loss or take_profit is provided → offset mode is used.

⚠️ If both absolute and offset values are provided, absolute prices will take priority.

💡 Practical Use Cases for Indicator-Based Trading

1️⃣ TradingView Alerts with SL/TP: You can now use TradingView alerts with webhook automation to place trades with automatic SL/TP.
2️⃣ Moving Average Cross Strategy with Pips-Based SL/TP: If you trade based on MA crossovers, you might want to set SL/TP based on distance from entry price (e.g., 25 pips SL, 50 pips TP).
3️⃣ RSI Overbought/Oversold with Dynamic TP & Fixed SL: Let’s say you enter a trade when RSI crosses 30 or 70, but you want a fixed SL and a dynamic TP based on market structure.

📊 Full JSON Format & Variations

You can set SL/TP in multiple ways, from minimal settings to full configurations:

🔹 Full Setup (SL & TP as Prices):

                    {
                      "platform_name": "tradelocker",
                      "ticker": "ETHUSD",
                      "order_contracts": 1.0,
                      "order_action": "buy",
                      "sl_price": 2860.0,
                      "tp_price": 3100.0
                    }

✅ Stop Loss at $2,860.00
✅ Take Profit at $3,100.00

🔹 Offset SL/TP (Pips-Based):

                    {
                      "platform_name": "tradelocker",
                      "ticker": "XAUUSD",
                      "order_contracts": 1.0,
                      "order_action": "sell",
                      "stop_loss": 50,
                      "take_profit": 120
                    }

✅ Stop Loss at -50 pips
✅ Take Profit at +120 pips

🔹 Mixed Approach (Absolute SL, Offset TP):

                    {
                      "platform_name": "tradelocker",
                      "ticker": "USDJPY",
                      "order_contracts": 1.0,
                      "order_action": "buy",
                      "sl_price": 146.200,
                      "take_profit": 70
                    }

✅ Fixed SL at 146.200
✅ Dynamic TP at +70 pips

🔗 Start Using TradeLocker with Smart SL/TP Today!

With these new SL/TP capabilities, any TradingView alert or automated signal can now execute trades with precise risk management.

📌 If you're using webhook automation, just update your JSON format to include SL/TP settings, and you're ready to go!

🚀 Trade smarter, automate faster, and manage risk like a pro with TradeLocker!