Webhook to exit any specific position

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1

Can I use webhook to exit any specific position from Tradingview?

2

Hi @aryan ,

You can place any trade directly in Tradingview using webhook alerts, and add your specific scrips with opposite-side transactions to execute the same.

Here is a link to this page.

3

I’m not asking to place a new trade but exit/close an existing one

4

Hey @aryan

We understood your requirement here. To exit any trade placed through webhook, you can simply trigger an alert of opposite product type or exit it through Dhan platform.

To exit any position through webhook, you can simply place a reverse order. For example:
If you have a Buy order, you can simply trigger a sell order through webhook of same quantity on same scrip and this will close your trade.

Hope this helps!

5

Won’t that need additional fund?

6

Hey @aryan

No, that wouldn’t require any additional fund if you have an existing opposite position already for that particular scrip of equal quantity.

7

Hi Hardik, Thanks for explaining how to use webhook. Can you clarify how to do below with webhook alert

  1. Placing the order based on Alert ( Explained in above)
  2. Placing Stop loss while placing the order in same alert or different alert (Risk: Reward of 1:3)
  3. Placing Take profit while placing the order in same alert or different alert (Risk: Reward of 1:3)
1 Like
8

Please introduce direct exit option trough wavehook for option trading. It is difficult to reverse the order through algo as spot price change during exit. We are using paid thirdparty bot wavehook only for exit.

9

it required additional big fund, order is getting failed. my experience is this

10

Hello @9374229025

Can you help me with the additional margin requirement that you are seeing in case of webhooks? Since the underlying RMS is the same, this shouldn’t be the case.