Should You Include Signal Price in Trade Alerts?
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Signal price is useful for calculating relative take profit and stop loss levels, especially when brokers do not provide market data. However, it is not required for all trades, and including it in signals will not negatively impact execution.
When setting up trade signals in TradersPost, one of the optional properties in the JSON message is signalPrice. This value represents the price at which a signal was generated, and it is primarily used for calculating take profit and stop loss levels when using relative price targets.
When Signal Price Matters
Including signalPrice in your trade signals can be useful if:
• Your broker does not provide market data, in which case TradersPost needs this value to calculate relative take profit and stop loss levels.
• You are using a relative take profit or stop loss, where exit prices are determined as a percentage or fixed amount away from the entry price.
If your broker already provides real-time market data, or if your strategy does not rely on relative price targets, signalPrice is not necessary.
Does It Hurt to Include Signal Price?
There are no disadvantages to including signalPrice in your trade messages, even if your strategy does not actively use it. If the property is present but not needed, it will simply be ignored. This means traders can leave it in their webhook messages without affecting execution.
Conclusion
While signalPrice is useful for specific cases, such as brokers without market data or strategies using relative stop losses, it is not required for every trade. Including it in trade messages does no harm, so traders can choose to send it or omit it based on their needs.