Pyramid splits the trading risk - bit by bit as positions grow. A unique risk management sets new orders only if the first ones are safe. Pyramid works fully automaticaly with a control panel on the chart for active traders. No grid, no martingale, all orders with stop loss.
The Pyramid algorithm is optimized for the german DAX30 index (like GER30 or similar) on the M5 chart as trends in indexes are more frequent. Pyramid with the index algorithm deactivated works semi-automatically, similar to Pyramid Light
The auto risk management stops opening orders if the possible loss in % of equity reaches the level set in MaxRisk.
A order with stop loss (SL) on or above order open (entry) price is out of risk.
If price goes up (buy) more SL are set to entry, more new orders are opened.
Minimum account size is $2000. If minimum lot size is 0.1 - some brokers have Dax CFD 0.01 - then $200 is ok.
A click on But opens the control panel
One click on a button can - (see Fig. 2 - 4)
- De/activate automatic buy and/or sell [AutoBuy] [AutoSell]
- De/activate auto closing of positions [AutoCloB] [AutoCloS]
- Start automatic continuous opening of orders every new bar, independent of algorithm [PyraBuy] [PyraSell]
- Place a single order at next bar open [NextBuy] [NextSell]
- Place a single order directly [BuyNow] [Sell Now]
- Choose if bar must be rising or falling for single or continuous ordering [BuyUp] [BuyDn] [SellUp] [SellDn]
- Set stop loss of all orders to entry price (break even 'BE') [SlBuyBE] [SlSellBE]
- Close all orders [CloAllBuy] [CloAllSell]
- Modify stop loss of all orders once or continuously, writing the trail distance in field below the button [TrailDistB] [TrailDistS]
Test the control panel and all functions of the Pyramid Expert in Visual Mode backtest!
(For a correct backtest in M5 chart, the D1 and H4 charts must also be open - the EA takes data from them)
A comment above the control panel shows how many trades are open, how many at risk (SL below BE) and how many left to open according to risk setting.
For orientation trendlines are drawn in the chart and highs & lows of previous days, see settings.
Custom trendlines can be used as triggers - see it working in video of Pyramid Light description!
Draw a trendline and name it:
- al1 or al2 - if Bid rises over or falls under line - alarm
- al3 or al4 - if bar closes over or under line - alarm
(Alarm button pressed)
- slbc - SL line closes all buys if bar closes below line
- slb - closes all buys if Bid below line
- slsc - SL line closes all sells if bar closes above line
- slb - closes all sells if Ask above line
(Trendl button pressed)
Once triggered lines get description done - don't trigger twice
- Lot - lots for each opened trade if not Autolots.
- AutoLots - automatic lot size.
- MaxRisk - maximum risk in % of account equity for orders with SL below BE.
- CorrCurr - Correction for risk set if account currency is USD, Dax is EUR - set EURUSD price.
- Hedge - true if broker allows it.
- SetUTC - timezone setting. Default set 0 = London time.
- AgressiveBuy - more orders.
- AgressiveSell - more orders.
- StopLossBuy - distance of SL.
- SLtoEntryB - distance to open price, at which SL of buy orders is set to entry price (BE).
- StopLossSell - distance of SL.
- SLtoEntryS - distance to open price, at which SL of sell orders is set to BE.
- HourStart - the EA operation start hour.
- HourStop - the EA operation stop hour.
- HrFriStop - hour to stop the EA on Fridays.
- HrFriClose - hour to close orders on Fridays, avoids open positions on weekend (disabled at 24 or higher).
- magic - magic number.
- PopUpAlert - a pop up window if an order is opened or a trenline is triggered.
- SoundAlert - sound alert at order opening.
- Algo_Trade - if false the index algorithm is deactivated, the EA has then same function as Pyramid Light.
- PyramidBuy - opens a new buy order at new bar (candle) starts.
- PyrBuyUp - open new buy orders only if the bar before was up (rising).
- PyrBuyDn - open new buy orders only if the bar before was down (falling).
- TrailDistBuy - distance of trailing stop.
- PyramidSell - opens a new sell order at new bar starts.
- PyrSellUp - open new sell orders only if the bar before was up.
- PyrSellDn - open new sell orders only if the bar before was down.
- TrailDistSell - distance of trailing stop.
- TestPanel - shows panel in visual backtest mode. When deactivated, tests are faster.
- ButtonSize - size in the control panel (1 - 8).
- DrawDaysHighLow - high and low of the day before are drawn as lines.
- DayHighColor - the color of high.
- DayLowColor - the color of low.
- DrawTrendlines - continuously drawing.
- RisingLineColor - color of line from days low.
- FallingLineColor - color of line from days high.
Bug fixed in UTC setting.