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Old 12-05-2008, 07:23 PM
latimeria latimeria is offline
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Here is updated version of 2 Equity Managers.

Simple Basket Close v2:
Trailing P/L is added.
Emergency stop is added.
Clock is added.

Trailing P/L starts trailing when specified P/L (percentage) is reached.
You can specify trail start level and trailing width.

example)
Account Balance (Freemargin, Equity) 10000 / Trail Start 5% / Trail Width 2%
When current P/L exceeds 5%(500), EA starts trailing by 2%(200) width.
*when you use Freemargin or Equity, trail width is not fixed, because Freemargin and Equity itself are changing.

Equity Manager for Martingale Lover v2:
Trailing Equity is added.

Trailing Equity starts trailing when specified Equity (an amount of money or percentage) is reached.
You can specify trail start level and trailing width.

example)
Initial Equity 10000 / Trail Start 500 / Trail Width 200
When current Equity exceeds 10500, EA starts trailing by 200 width (start from 10300).

Problem and Solution:
1) Trailing P/L & Trailing Equity
Of course these trailing functions don't use physical stop, so there is a problem.
These EAs observe momentary maximum P/L or Equity and start trailing when it exceeds specified value.
If you quit MT4 or reset EA (for example when you change settings), EA forget maximum P/L or Equity and current stop level.
So, you have to run MT4 24/7 to make it work fully automatically.

But you will need shut down PC sometimes.
One solution for this is to input stop level manually before you quit.
(But It must be reset manually to as it was after EA has reset everything by TP or SL.)

2) update Initial Equity
For Equity Manager for ML, EA forget Initial Equity that has been reset (I mean after TP or SL) also.
If Equity Manager has not reset everything yet, it causes no problem.
But after Equity Manager has reset everything, Initial Equity must be updated manually before you quit, or EA will forget it.
Once it is updated, EA doesn't forget it (its setting remains).

Common Tips:
1) If you input trail start level less than zero, EA starts trailing immediately.
2) As I wrote at previous post, you can move stop level to breakeven or lock up some profit manually.
3) You can turn off trailing if you don't need it. (so I will delete old versions later.)
Attached Files
File Type: mq4 Simple Basket Close v2.mq4 (8.3 KB, 251 views)
File Type: mq4 Equity Manager for Martingale Lover v2.mq4 (11.4 KB, 221 views)

Last edited by latimeria; 12-08-2008 at 05:57 PM.
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