Equity Guard Watch
This EA can help you to trade manually with daily cycles and long term trends. You see some trades opens (if allowed so) and then closes with losses but eventually a growing profit trade comes out. Don't do any action until it maturates and ripen well. Then manually at the end of trend, take profit (close it) at the very topping or bottoming. Figuring out the end of a trend is not so easy, but this EA minimize risk of your incorrect decisions and helps you to be an edge! Just Take Profit of trades and every thing else, if you choose, is done by this utility! I recommend daily Hieken Ashi to beginners for finding start of trends.
In another mode of function, namely Equity Force Mode, this utility EA is mainly keeping track of your active positions and if they are closed with losses then this EA opens a pending stop order with the same SL, TP, and Lots and exactly at the same open price of the closed one. You have a pending order always at this level. You can imagine it as war level. When a position is closed in loss, its open price is available to open an stop pending order. To protect your equity when your trades are underwater, you need to cover them. This utility helps you to manage your coverings by defining a war level at their opening prices. Of course you can add to your balance (but not equity) by closing the covering trades at some profits, but then you have changed actually the war level, so this EA now opens positions to hedge again at the current prices. That is it!
In this way by hitting your war levels, your balance decreases! But what else you can do if you don't want to call margin? You should pay your broker not stop call you. Now it is time to pay from your balance to fix or increase your equity! If you are ready to do so in order to save your equity, then this utility EA is for you! Of Course remember that equity will trims when price comes back again!
- Equity_Force_Mode = False
- Avoid_losses_on_same_level = False - After closing at the same price, it goes further up for Buys and further down for Sells to open pending order.
- Avoid_losses_go_further = 40.0
- Open_Sell_if_no = True
- Open_Buy_if_no = True
- Open_Trade_if_no_dist = 40.0
- SL_Longs = 25.0
- SL_Shorts = 25.0
- Apply_SL_if_Applicable = True - SL_Longs and SL_Shorts are for trades that EA opens itself. But by this you are telling EA to modify your trades too. But remember when a trade closed (war level), pending order will open with the same SL, TP, Lots.
- Delete_Stops_Activating_Limits = True
- startingLots = 0.2
- RateHikeCoefatProfits = 1.25 - When you close a trade in well profit then Lots increases (multiplied) by this coefficient.
- DontHikeRateforFirst = 2 - Avoid increasing Lots for first 2 victory
- isTrailingPendingOrders = False - If you set this as Fasle, then by putting limit orders and activating Delete_Stops_Activating_Limits, you can trail your coverings manually.
- Modify_with_ticks = True - By every tick when price comes down, buy stop comes down until butLevel and when price goes up, sell stop goes up until TopLevel.
- Modify_with_nFold = 3 - When Modify_with_ticks = False, then nFolding is effective.
- Modify_butLevel_for_Longs = 1220.0
- Modify_TopLevel_for_Shorts = 1270.0
Inputs for Test Mode Only in strategy tester
- testForEquityGuard = True
- testWithCloseTimes = False
- useDailyOpenPrice = True
- DontActionBefore = D'2017.06.01 '
- tradeDate = D'2017.05.09 '
- tradePrice = 1216.00
- tradeLots = 0.2
- tradeType = "SELLSTOP"
- closeTimes = "2017.01.25 ; 2017.01.30 ;"
To test the normal operation, open a daily chart and find start of daily trends there, at this dates you should closed manually. But now to test, write dates as comma separated list for closeTimes input as the example input there. To perform test you should put testForEquityGuard = False and testWithCloseTimes = True. If you choose useDailyOpenPrice = False then you should apply times with hour and minutes too, as "2017.01.25 08:45; 2017.03.20 21:30;"
To perform a test for Equity Force Mode, then pick a date for DontActionBefore so that your test trade with (tradeDate, tradePrice , tradeLots, and tradeType) is in deep trouble. It is recommended startingLots to be same as tradeLots. As price goes high, hedging protect you from stop call but eventually price come down and you can close your loosing trade manually.