SL TP TS multicurrency risk manager
"SL-TP-TS multicurrency risk manager" is a multicurrency tool (variable number of pairs according to the user need and limited only by broker's offer). Simplifies the work of a manual trader when you want to send orders (to market or pending), with instructions of colocation of Stop Loss (SL), Take Profit (TP) and Trailing Stop (TS) and instructions of quantity of lot and distribution of that quantity between the pairs defined. A warning system will alert you by email or SMS when a position is closed and with what profit.
The pairs of work are specified separated by ";" (e.g., "EURUSD; GBPUSD"). The parameters for each pair are specified separated by ";" (e.g., "100; 150" TP values, where 100 is the TP value for EURUSD and 150 is the one for GBPUSD).
The SL, TP and TS parameters can be defined in several units:
- Points of quotation.
- Percentage of price.
- ATR units: e.g., if ATR-14 = 35 points and TP = 3.0xATR, then TP = 105 points.
- TP units: e.g., if TP = 100 points and SL = 0.5xTP, then SL = 50 points.
The trader will be able to specify, moreover, itinerary of price or time interval before activating TS, period to calculate ATR and close all positions by accumulated benefits or loss.
If at the moment of sending orders, there is an open position of the same type, it is increased and modified with the dates of the new order, but we can specify only the modification of SL, TP and TS. If we send a buy (sell) order, previously it´s closed any sell (buy) position opened. The pending orders can be specified as usual in MT5.
The investment volume (number of lots: lotRef) can be defined as a fixed quantity or as a percentage over free margin. Also, it can be specified as is distributed that volume (lotRef):
- To each pair (option "noDISTRIB").
- Distributed in equal parts between the pairs defined (option "equalPARTS").
- Distributed depending on the volatility of each currency (according to ATR):
- Or assigning the specified volume (lotRef) to the most volatile currency and the rest of them will receive a bigger volume, inversely proportional to its ATR (option "distrATR1").
- Or distributing the specified volume
(lotRef) inversely proportional to its ATR (option "distrATR2").