Multi Currency Positions Chameleon
- Edgar Elsner
- Version: 1.14
- Updated: 2 January 2023
- Activations: 10
Manages profits and losses of single or multiple open positions and/or pending orders of different Forex symbols that are applied to multiple charts of the current terminal by specifying their magic numbers and/or symbols.
MT4 version can be found here: https://www.mql5.com/en/market/product/91643
The EA only needs to be applied to one out of the Charts on the terminal. If different settings have to be set for stop loss and/or take profit to different groups of positions/orders, then the EA just have to be applied to another chart as well. An alarm function is also available for pending orders, so that at an adjustable distance to the market price, an acoustic message is given.
The profit management has a breakeven function as well as a selectable trailing function. This includes four levels: Exponential, Percentage and Static as well as Disabled. For the Exponential and Percentage options, the minimum and maximum percentage can be customized.
The “Trail Start” must be set higher than or equal to the “BreakEven” value and become activated as soon as the breakeven profit is exceeded. In addition, during trailing is active, the value of "Min.Dist" sets the minimum distance to the current price, regardless of setting the maximum percentage. This is particularly helpful when low profit targets are to be expected,as they occur, for example, when scalping.
Stop Loss Management:
The stop loss management consists of a real as well as a virtual stop level. The real stop loss usually is placed further away than the virtual stop loss, so that stop-hunting by the broker will be avoided. On the other hand, in case of overrunning the virtual stop loss due to e.g. missing quote or interruption to the broker server in any case the real one stop loss still in effect to close the position(s).
The positions to be managed can be selected by magic numbers and/or symbols. If no magic number and no symbol are set, all positions and orders are considered. Otherwise, they are considered corresponding to the magic numbers and/or symbols written in the setup parameters.
There is a button bar on the chart’s left bottom, so that the EA can be activated/deactivated as well as selected which operation types are currently considered. The order distance alarm can also be activated/deactivated here and the most right button allows the top panel to be displayed or hidden. The button bar automatically adjusts itself when changing the chart height to the bottom left.
Brief overview of the functions:
- Trailing stop of all or selected magic numbers/positions/orders of different currencies on one terminal from only one single chart
- Selective position/order management by magic numbers and symbols or combinations of symbols/magic numbers
- Break even trailing stop and trailing stop exponential, percentage, static or disabled
- Stop loss real and virtual independent of each other
- Pending orders alert when the market price is approaching the order limits/stops
- Onscreen panel for flexible adjustment of trading parameters