Virtual Exchange Reserve Trendline Ordering Layer
- Utilities
- Kevin Peter Abate
- Version: 1.1
- Activations: 8
Virtual Exchange Reserve
In an environment where exchanges offer increasingly high leverage ratios, it is all the more important for traders to tightly regulate their level of equity. This software is designed to be run in the background on any virtual private server that can run Meta Trader 4/5. It implements basic equity control functions ahead of the broker---allowing users to set their own equity trailing stop, an equity limit to lock-in a certain profit margin, and a universal stop that does not allow any individual position to incur a loss of equity greater than a certain percent of the account's equity.
The Virtual Exchange Reserve project is not affiliated with the government of any country, the central bank of any country, the operators of any currency, commodity or stock exchange, the developers of Bitcoin or any other cryptocurrency, Metaquotes Ltd., the developers of Meta Trader, or any regulatory agency. This software is provided "as is" and it is the user's own responsibility to use it correctly. This software IS programmed to open positions on behalf of the user, based on the placement of trendline graphical objects displayed on a price chart described by the enumerated type OBJ_TREND; it is also programmed to both close individual positions based on losses exceeding a set percent of the account's equity and to liquidate all the positions in an account, based on equity conditions decided by the user, rather than the broker.
Parameters
- inputStopPercent - Sets the maximum loss that any one position may incur at any time in terms of a percentage of account equity at that time.
- inputEquityLimit - Sets the percentage of equity gained, in terms of the account equity when the equity monitor was started, that will trigger the liquidation of all open positions in the account.
- inputTrailingStop - Sets the percentage of equity below the maximum equity attained after the equity monitor was started, that will trigger the liquidation of all open positions in the account.
- inputVolume - Sets the lot size or volume of market orders triggered by the trendline ordering layer.
Trendline Ordering Layer
Market orders will be triggered when the script detects a price that is either "Above" or "Below" a trendline with a specifically formatted description string. This is a case sensitive operation. The program looks for either the word "Buy" or "Sell", a single space, and then either the word "Above" or "Below", so if the description reads "Buy Above" a market order to buy the instrument will be triggered when the asking price goes above the trendline. Sell order placements are determined by the position of the bid price. If an equity condition triggers the liquidation of the account's open positions, then any orders pending via trendlines will be marked expired due to "Equity Condition". If execution of the script is stopped and the software is able to exit properly, all orders placed via trendlines will be marked as expired because the "Session Closed". It is not recommended to use trendline object orders as stop orders, unless hedging is disabled and the account operates FIFO, where "buy" positions are closed by market orders to "sell" with the same volume. Both the Trendline Ordering Layer and Equity Monitor are designed for uninterrupted execution on a virtual private server. No identifying information or information about trading is collected by this software or the author of this software.
Major Caveat
Be sure to check that the price of the spread for the symbol and volume being traded is less than the maximum loss allowed for any individual position, before attempting to open a position in that symbol and at that volume, or the position could be liquidated immediately. It is the responsibility of the user to check for this condition while using the Virtual Exchange Reserve Equity Monitor. (Particularly with Bitcoin, because the cost associated with spread on BTCUSD could be significantly higher than you expect in a leveraged spot market; as of writing this, 0.001BTC could be a cost of more than $35)
CONCLUSION
Virtual Exchange Reserve implements reverse margin call capability for all of its software.
