The Averaging utility is designed for one-time use and is intended for traders who trade using averaging techniques or from time to time need to exit a floating loss resulting from erroneous trades by averaging trade results.
Averaging of results means closing trades by TakeProfit calculated by the script.
The script takes into account the volume of opened positions! However, if the number or volume of trades is increased, the script should be relaunched on the chart!
The total result of trades is set in points in the script inputs and depends on what the trader needs: allowable loss, breakeven or profit.
The calculated TakeProfit level is set for all open positions! A comfortable script use is also possible when combined with the Averaging indicator.
The script only works with market orders and makes calculations when there are at least two trades of the same character: bullish or bearish. It does not perform calculations when trades are counter directed!
The script operation is shown in the attached video.
- Take Profit - the Take Profit level in points.
- Language - choose language for the displayed information: