Adding Multiple Take Profits & Stop Losses Using PickMyTrade (Strategy Workaround)

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This walkthrough explains how to add multiple take-profit and stop-loss targets to any TradingView strategy using PickMyTrade — even if the strategy itself only supports a single exit. You’ll generate an alert template inside PickMyTrade, customize it for strategy signals, and run it with fixed position size to unlock multi-target automation in live trading.

1. Open PickMyTrade → Generate Alert #

Go to the Generate Alert section and choose:

  • Indicator
  • Select your symbol (example: MNQ1!)
  • Alert Type: BUY (this is temporary — you will replace it later)
  • Order Type: MARKET
  • Quantity: Enter a fixed total quantity, e.g., 5
Dashboard showing order setup for MNQ futures with Buy market order, quantity selection, and advanced risk controls for multiple TP/SL settings.

Note: This method does not allow dynamic quantity from strategy. Quantity must be fixed here.

2. Enable Multi-TP / Multi-SL #

Trading interface showing Multiple TP/SL toggle enabled, with inputs for stop loss, take profit, breakeven type, and total projected profit/loss.

Select “Enable Stop Loss / Take Profit” → Yes
Then enable: Multiple TP/SL

Now configure each exit. Example:

Order management screen showing the full quantity initially assigned to the first TP/SL block before splitting contracts into multiple exits.

Target 1 #

  • Quantity: 2
  • Type: Point/Dollar
  • SL: 10 points
  • TP: 10 points

Target 2 #

  • Quantity: 2
  • SL: 10 points
  • TP: 15 points

Target 3 #

  • Quantity: 1
  • SL: 10 points
  • TP: 20 points

Now you have 5 contracts split across 3 different exits.

3. Add Account #

Click Add Account, choose your account, and confirm.

Screen displaying add account button to generate alert code for Pickmytrade automation

PickMyTrade will generate a code template.
Copy the JSON.

4. Modify the Code for Strategy Alerts #

Paste the generated JSON into a text editor.

You’ll now make ONLY One required changes:

Replace static BUY/SELL with strategy signal #

Find:

"data": "buy"

Replace with:

"data": "{{strategy.order.action}}"

This lets your TradingView strategy send either “buy” or “sell” into PickMyTrade automatically.

5. Final JSON Example #

Showing the modified sample code:

{
	"symbol": "MNQ1!",
	"date": "{{timenow}}",
	"data": "{{strategy.order.action}}",
	"quantity": 5,
	"risk_percentage": 0,
	"price": "{{close}}",
	"gtd_in_second": 0,
	"stp_limit_stp_price": 0,
	"update_tp": false,
	"update_sl": false,
	"breakeven_offset": 0,
	"token": "PickMyTrade_token",

	"pyramid": false,
	"same_direction_ignore": false,
	"reverse_order_close": true,

	"order_type": "MKT",

	"advance_tp_sl": [
		{
			"quantity": 2,
			"tp": 0,
			"percentage_tp": 0,
			"dollar_tp": 10,
			"sl": 0,
			"percentage_sl": 0,
			"dollar_sl": 10,
			"breakeven": 0,
			"breakeven_offset": 0,
			"trail": 0,
			"trail_stop": 0,
			"trail_trigger": 0,
			"trail_freq": 0
		},
		{
			"quantity": 2,
			"tp": 0,
			"percentage_tp": 0,
			"dollar_tp": 15,
			"sl": 0,
			"percentage_sl": 0,
			"dollar_sl": 10,
			"breakeven": 0,
			"breakeven_offset": 0,
			"trail": 0,
			"trail_stop": 0,
			"trail_trigger": 0,
			"trail_freq": 0
		},
		{
			"quantity": 1,
			"tp": 0,
			"percentage_tp": 0,
			"dollar_tp": 20,
			"sl": 0,
			"percentage_sl": 0,
			"dollar_sl": 10,
			"breakeven": 0,
			"breakeven_offset": 0,
			"trail": 0,
			"trail_stop": 0,
			"trail_trigger": 0,
			"trail_freq": 0
		}
	],

	"multiple_accounts": [
		{
			"token": "pickmytrade_token",
			"account_id": "1_account_id",
			"risk_percentage": 0,
			"quantity_multiplier": 1
		}
	]
}

Do not modify advance_tp_sl or multiple_accounts.
They remain exactly as generated.

Note: PickMyTrade will always use the quantity configured in its alert JSON, not the quantity defined in your Pinescript strategy. The strategy’s quantity is ignored.

6. Add This Modified JSON Into Your TradingView Strategy Alert #

Create a new strategy alert in tradingview and paste the updated JSON into the Message Box along with Webhook URL.

Now your strategy can:

✓ Send BUY/SELL signals
✓ Use multiple TPs & SLs
✓ Execute automatically in PickMyTrade
✓ Maintain fixed total quantity

Important Limitations #

❌ You cannot pull quantity from strategy (strategy.position_size).
Quantity must be hardcoded during alert generation.

❌ If your strategy already has built-in multiple TP/SL logic, do not use this method.
Instead, directly generate alerts from strategy using PickMyTrade’s default multiple-TP option.

FAQ’s #

What is the Multiple TP/SL Strategy Workaround in PickMyTrade?

It’s a method that lets traders use more than one take-profit and stop-loss level for a single position by splitting the total order quantity into separate portions, each with its own exit logic.

How do I enable multiple take-profit levels?

After entering your total quantity, go to Risk Settings and enable Multiple TP/SL. This unlocks separate TP/SL blocks where you can assign different quantities and targets.

Can each portion of the trade have different stop-loss settings?

Yes. Each TP/SL block can use its own stop loss, take profit, breakeven, and trailing stop values, allowing more flexible trade management.

Is this useful for scaling out of trades?

Yes. It’s designed for scaling out gradually—for example, closing part of a position at an early target while letting the rest run to a larger target.

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