Question 1

Why do I need the UseStopLoss3 parameter in the strategy settings?

Accepted Answer

There is a UseStopLoss3 parameter in the strategy settings, it allows (YES) or not (NO) to use a third stop loss with timed activation. The third stop loss works in the same way as the second stop loss and gives you another level where you can move the stop to Breakeven. For example, if price rose by +1%, then stop-loss line 1 using the second stop to move to stop-loss line 2 at +0.3% (to breakeven position), if price continues to rise, for example to +2%, then using the third stop you can "re-set" the trade to an even larger breakeven and pull the stop line to stop-loss line 3 at +1.2%.

Question 2

Why do I need the UseStopLoss3 parameter in the strategy settings?

Accepted Answer

There is a UseStopLoss3 parameter in the strategy settings, it allows (YES) or not (NO) to use a third stop loss with timed activation. The third stop loss works in the same way as the second stop loss and gives you another level where you can move the stop to Breakeven. For example, if price rose by +1%, then stop-loss line 1 using the second stop to move to stop-loss line 2 at +0.3% (to breakeven position), if price continues to rise, for example to +2%, then using the third stop you can "re-set" the trade to an even larger breakeven and pull the stop line to stop-loss line 3 at +1.2%.