Pyramid Light splits the risk of trading positions - bit by bit as positions grow with the trend. A unique risk management sets new orders only if the first ones are safe. Unlike the Pyramid Expert, this tool is not made to trade full-automatic alone. It is more like an utility but it can work automatically like an expert advisor guided by a control panel in the chart. Trendlines are drawn automatically in the chart. Custom trendlines can be used as triggers - see it in the video! A comment shows how many trades are open, how many at risk.
(Pyramid Expert is a version with algorithm optimized for the german DAX30 index)
The auto risk control system stops opening orders if the possible loss in equity reaches the level set in MaxRisk.
A order with stop loss (SL) on order open (entry) price is out of risk.
If price moves to right direction more SL are set to entry, more new orders are opened.
A click on the But button in the chart opens the panel.
One click on a button of the control panel can (Fig. 2)
- De/activate automatic buy and/or sell [AutoBuy] [AutoSell]
- De/activate automatic 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]
Pressed buttons change color
Test the control panel and all functions of the Pyramid Expert in Visual Mode backtest!
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 work in the video!
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 and don't trigger twice
- Lot - lots for each opened trade if not Autolots.
- AutoLots - automatic lot size.
- CorrCurr - Correction for risk set - if account currency is USD, Dax is EUR - set EURUSD price.
- MaxRisk - maximum risk in % of account equity for orders with SL below BE.
- SetUTC - timezone setting. Default set 0 = London time.
- StopLossBuy - distance of SL.
- SLtoEntryB - distance from order open price, at which SL of buy orders is set to entry price (break even).
- StopLossSell - distance of SL.
- SLtoEntryS - distance from order open price, at which SL of sell orders is set to break even.
- 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.
- SoundAlert - sound alert at order opening.
- 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 in the chart.
- DayHighColor - the color of high.
- DayLowColor - the color of low.
- DrawTrendlines - trendlines are drawn.
- RisingLineColor - color of trendline from days low.
- FallingLineColor - color of trendline from days high.