A Stop-Loss Delta is an absolute number that acts as a stop-loss for CO (cover order) and OCO (one-cancels-the-other) Positions.
For example -
You place a buy CO order for Reliance-EQ with
Quantity: 100
Limit price: ₹2000
Stop-Loss Delta: 30
This means your buy order with a quantity of 100 shares would get placed at ₹2000 and once traded, automatically a sell Stop-Loss order would get generated for the quantity of 100 shares at
Sell Stop-Loss: (Buy order Traded price - Stop loss delta) i.e. (₹2000-30) = ₹1970.
Similarly, in case of OCO order, a buy OCO order is placed for Reliance-EQ with
Quantity: 100
Limit price: ₹2000
Target Price Delta: 50
Stop-Loss Delta: 30
This means your buy order with a quantity of 100 shares would get traded at ₹2000 and automatically a Sell Stop-Loss order would get generated for the quantity of 100 shares at
Sell Stop-Loss: (Traded price - Stop loss delta) i.e. (₹2000-30) = ₹1970.
