Internal Code Improvement. This New Version Help Reduce The Draw Down

There was a need to include a pre trade closure before the maximum trade life closure. This was necessary to help reduce draw down whilst in a live trade.

In this new update, we will be seeing a new feature of hedging. In Intra Day Pivot Trader, hedging is intended to help reduce the draw down to the barest so that the profit can be maximized.

There are four new settings which may not require optimization. This is because the idea behind Intra Day trading is to make profits that same day (or next). So trade entry and exit timing is very critical to success.

Counter Hedger:- Turn True if Hedging is desired.
Hedge Scale:- This value multiplies the regular trading lot in hope of profitability.
Counter Hedger Entry Time:- This is the time hour of entry for hedging trades.
Counter Hedger Range Time:- This value sets a maximum range of hours for which to search out for the hedging trade.

Extra Risk Input Settings.

In a situation whereby there are many charts opened and different symbols been traded; each setting should be configured to trade the chart symbol it was back-tested for.

So we added the input:

"Current Chart Symbol = EURUSD"

Review of the Settings Expiration Year, Month and Day. The settings works much better now.

Intra Day Pivot Trader is tailored to trade around the Pivot Point, Resistance level one, Resistance level two, Support level one and the Support level two price levels of the Daily Pivot Points. As the market is not constant, it is good to optimize the Expert Advisor from time to time. This means regularly changing the settings will continually produce steady results.

As such we have included an expiration input settings for the E.A. and as such no trades will be opened after the preset expiration Year, Month and Date.

Settings Expiration Year
Settings Expiration Month
Settings Expiration Day

Please note - the defaut values are set at zero (0) and as such trades goes on indefinitely. If appropriate values (greater than zero) are used, beyond such a set timing, no trades will be opened.

The new improved version of Intra Day Pivot Trading EA is fitted with a Multi-Currency trading strategy. A Multi-Currency trade is opened if at least one of its chosen symbols is moving in the same direction with the current chart symbol (and it's 'transience' value is set at above zero).

Also, a loss rebate trading strategy has been introduced. This strategy proves to be useful such that in the case of an inevitable loss (of a scalping trade), there is a compensation. This strategy runs independent of the scalping trade such that even when price temporarily goes against the current scalping move, there is a profiting move.

Advisably, these two Multi-Currency trading strategies may not be optimized at the initial time. It should prove most useful after the best of best of settings have been tested and found satisfactory. At this stage, these Multi-Currency specifics can then be deployed to yet improve trading performance.

Current settings favor the EURUSD currency pair.

This new version has been fully internally overhauled. As a result of this, some changes had to be made but only for the purposes of clarity. As before, there are still four strategies deployed, now each of these strategies have been named. Thus looking through the settings, it becomes easier to identify each strategy and match all associated variables to their respective strategies.

Unlike before, wherein each strategy is been traded by different but fixed time, this new version trades all strategies using a single timeframe which can be optimized.

Also, in this new version, each strategy has been bounded to enter trades only at specific time duration/interval within the day.

NOTE:
Back Tested Spread must be set at zero at the time of optimization/back testing. For live trades, enter the spread value of most suitable optimized settings.

For large accounts, enter appropriate values.

This new version has been redefined to be better stable.
There is however the crucial need to Re-optimize and adapt to specific trading environment.

This new version improves trade entry accuracy.
It helps to ensure that trades are entered an earlier time.
Please optimize as best as possible.