Automating layered exits on Binance Futures helps you secure gains while letting winners run. With TradingView To Anywhere, you can trigger multiple take profits from one alert setup.
Method 1: Subdivide Your Position into Smaller Trades
Divide your full position into smaller orders with individual take profits:
BUY BTCUSDT Q=0.01 TP=1% A=USDM
BUY BTCUSDT Q=0.01 TP=2% A=USDM
BUY BTCUSDT Q=0.01 TP=3% A=USDM
Each order closes independently once its TP level is hit.
The TP can also be passed as the actual price.
BUY BTCUSDT Q=0.01 TP=120500 A=USDM
BUY BTCUSDT Q=0.01 TP=121000 A=USDM
BUY BTCUSDT Q=0.01 TP=122500 A=USDM
Method 2: Partial Close Commands on Take Profit Hits
This method requires your TradingView strategy/indicator to be modified such that it generates alerts at each TP level. These alerts are sent with partial close commands:
-
First TP:
CLOSE BTCUSDT Q=30% A=USDM -
Second TP:
CLOSE BTCUSDT Q=30% A=USDM -
Final TP:
CLOSE BTCUSDT Q=100% A=USDM
We use Q=100% in the final TP level to exit the entire remaining position.
We can also use the Q as the actual quantity to close. Assuming our initial open position is 1:
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First TP:
CLOSE BTCUSDT Q=0.5 A=USDM -
Second TP:
CLOSE BTCUSDT Q=0.25 A=USDM -
Final TP:
CLOSE BTCUSDT Q=0.25 A=USDM
This method gradually reduces your position in line with your profit targets.
Get started: Create your Binance Futures webhook and automate your layered exits today!