Placing Conditional Exits Using Shield on CubePlus (Part 2)

Part 1 of this series covered how to access Shield from the Positions tab on CubePlus, choose the positions to protect, and create a Profit & Loss based exit rule. This part focuses on the remaining two exit types available in Shield. One allows positions to be exited automatically at a predefined time, while the other monitors the price or trading activity of any instrument, whether or not it is part of your portfolio, and exits the selected position once the specified condition is met.

Exiting at a fixed time

The Time tab is designed for traders who want positions to close at a predefined time rather than based on profit or loss. Opening the Time tab under Manage Shield Entries for the first time displays an empty state, as no time-based Shield has been created yet. To get started, click Select Positions and choose the positions you want to protect.

The position selection process remains the same as it is for a Profit & Loss based Shield. Simply select the positions you want to include and click Continue to proceed.

On the Create Shield screen under the Time tab, an algo name is entered as before, followed by a specific exit time chosen through an hour and minute picker. Once the time is set, the same choice from Part 1 returns, Set Alert or Activate Shield. In the example shown here, Set Alert is chosen instead of a live activation.

On the Create Shield screen under the Time tab, enter an algo name as before, then choose the exit time using the hour and minute picker. Once the time is set, the same options from Part 1 appear: Set Alert or Activate Shield. In the example shown here, Set Alert is selected instead of activating the Shield.

Confirming the prompt places the alert into service, shown here as a Calendar Exit alert set for 3:05 PM.

This is where the difference between Set Alert and Activate Shield becomes visible on the management screen. A Shield created using Activate Shield, such as the P&L example from Part 1, appears under Conditional Sets and automatically exits the position when the condition is met. A Shield created using Set Alert, such as this Time example, appears under Alerts and only sends a notification, leaving the trader to take action. Both sections appear on the same management screen, which is covered in detail in Part 3, making it easy to distinguish between automated exits and notification-only Shields.

Exiting on a price or activity condition, ATO

The third exit type, ATO (Alert Trigger Order), monitors the market instead of your positions. While P&L tracks account profit and loss and Time tracks the clock, ATO watches the price or trading activity of any instrument, not just the one being protected. For example, a trader holding a Nifty option can set the exit condition based on the Nifty 50 index level rather than the option's own price, which is often a more meaningful trigger for option positions that move with the underlying.

Reaching ATO follows the same process as the other exit types. Select the positions to protect from the Available Shield screen, then continue to the Create Shield screen.

The exit condition is built as a simple statement: if a selected field of a chosen instrument is above, below, or equal to a specified value, the position is exited. The field dropdown includes a wide range of market parameters, including last, open, high, low and close price, price change in rupees and percentage for both the day and intraday, traded quantity, average traded price, and volume.

Scrolling further down the dropdown reveals additional fields, including total buy quantity, total sell quantity, and three open interest metrics: current open interest, intraday high open interest, and intraday low open interest.

The instrument can be selected from the dropdown or entered by typing its symbol directly. Leaving the field blank displays commonly tracked indices such as Nifty 50, Sensex, and Bank Nifty, though any listed instrument can be used.

The comparison itself is chosen from five operators: greater than or equal to, greater than, less than or equal to, less than, and equal to.

The value can be entered directly or set as a percentage above or below the instrument's last traded price, with the platform automatically calculating the corresponding trigger level. In the example shown here, a 3% move above Nifty 50's last traded price of 24,271.70 translates to a trigger value of 25,001.03.

As with the other exit types, selecting Activate Shield displays a confirmation prompt before the Shield is activated.

With all three exit types covered, Part 3 focuses on managing Shields after they are created. It explains how to edit an existing Shield, navigate the combined management screen, and understand when each of the three exit types is best suited.

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