How to Set Take Profit & Stop Loss Automatically on Bybit

Most traders know they should use take profit and stop loss orders. Most traders also don't use them consistently — because setting them manually on every trade is tedious, because they get moved "just this once," and because life gets in the way.

The solution is automation. When TP and SL are set automatically at entry, you remove the decision fatigue and the emotional overrides. This guide covers three approaches: Bybit's built-in tools, TradingView alerts, and a fully automated trading app.

Method 1: Bybit's Built-in TP/SL

Bybit lets you attach take profit and stop loss to an order when placing it, or modify them afterward on open positions. Here's how both work.

Setting TP/SL at Order Entry

Setting TP/SL on an Existing Position

If you already have an open position without TP/SL, you can add them in the Positions tab. Click the pencil/edit icon next to the position, enter your TP and SL prices, and confirm. They'll be attached immediately.

Method 2: Multiple Take Profit Levels (Partial Close)

A common strategy is to take partial profit at multiple levels rather than closing the entire position at once. For example, close 40% at TP1, another 40% at TP2, and let the remaining 20% run with a trailing stop.

Bybit supports this natively through Conditional Orders. After your position is open:

1. Go to Orders → Conditional
2. Create a Reduce Only sell order (for a long position) at TP1 price for 40% of your position size
3. Create another Reduce Only sell order at TP2 for another 40%
4. Set a trailing stop for the remaining position

This maximizes profit on big winners while still banking something on moves that only hit TP1. The challenge is that you need to manually calculate position sizes for each level and create multiple orders for every trade.

Method 3: TradingView Alerts with Webhooks

If your trading strategy is defined in TradingView, you can automate the entire process — entry, TP, and SL — using webhook alerts.

When your indicator fires a signal in TradingView, it sends a webhook HTTP request to an external server. That server then calls Bybit's API to place the order with TP/SL attached. You build the logic once; it runs automatically every time the condition triggers.

The components you need:

• A TradingView Pro+ plan (free plans don't support webhooks)
• A Pine Script strategy or indicator that generates alerts
• A webhook receiver — a server that can receive the alert and call Bybit's API
• Bybit API keys with trading permissions

For a full step-by-step guide on setting this up, see our post on TradingView Webhook to Bybit Setup.

Method 4: Fully Automated via a Trading App (Easiest)

The simplest approach is using a trading app that handles all of this for you — no webhook setup, no API integration, no manual order management.

With CryptoScope AI's trading app, here's how it works:

1. Connect your Bybit API keys to the app (read-only for portfolio tracking; trade permissions for execution)
2. When a signal is sent to Telegram, the app automatically executes the trade on Bybit
3. Take profit levels and stop loss are set from the signal parameters, no manual input
4. If the signal has multiple TP levels, the app handles partial closes automatically
5. DCA orders are placed automatically if the signal includes averaging levels

Choosing the Right TP/SL Levels

Automation is only as good as the levels you set. A few principles:

Risk/Reward Ratio

Most professional traders require at least a 1:2 R:R minimum — meaning the potential profit at TP is at least twice the potential loss at SL. A 1:3 or higher R:R means you can be wrong more than half the time and still be profitable.

Stop Loss Placement

Place stop losses below a key support level (for longs) or above a key resistance level (for shorts), not at an arbitrary percentage. A stop at a logical invalidation point is less likely to get hunted than one at a round number like "-5%".

Take Profit Placement

Target the next significant resistance level (for longs) or support level (for shorts). For signals from AI systems like CryptoScope, the TP levels are calculated based on historical price behavior of similar setups — so you can follow them directly.

Summary: Which Method is Right for You?

• Occasional trader, don't want tools: Use Bybit's built-in TP/SL on every order
• Strategy trader using TradingView: Set up webhook automation
• Signal trader: Use a signal auto-trading app that handles TP/SL for you
• Multiple approaches: Use an all-in-one app that handles Telegram signals, TradingView webhooks, and manual trades with automatic TP/SL on all of them