Thanks for posting this. I will mention it in my wrup on Sunday.
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| Exposure Indicator with Break Even pips for Basket traders https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=5582 |
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| Author: | billv [ Fri Dec 14, 2018 9:48 am ] |
| Post subject: | Exposure Indicator with Break Even pips for Basket traders |
Hello Guys Its nearly Xmas time so I want to share an indicator I use with my basket trading. This is an adaptation of the original iexposure indicator + the mebreakeven indicator It helps me see my exposure in lots, to see the break even point for each currency in each direction and then I can use this information to determine if I should intervene or not. Why do I need an indicator like this? Because a currency pair could be in draw down by a few thousand pips but the combined lot size could be small so our exposure is small and we can let the pair recover by itself. Also, for example the break even distance could be close by, so the EA could recover the trades in a day or 2 on its own. Good luck UPDATE 22/12/2021 I'M ATTACHING UPDATED VERSION 2.23 WHICH WAS KINDLY PROVIDED TO ME BY MY FRIEND SERGEI. THIS VERSION PROVIDES DETAILED INFORMATION ON OUR EXPOSURE TO A PARTICULAR CURRENCY AND IT WILL BE USEFUL IN IDENTIFYING SITUATIONS WHERE 1 CURRENCY HAS BEEN TRADED TOO MANY TIMES. FOR EXAMPLE WE COULD BE SELLING THE CHF IN 5 CURRENCY PAIRS AND NOT REALIZING THAT EVEN A MILD MARKET CRASH COULD RESULT IN THE SUDDEN APPRECIATION OF THE CHF AND THE DESTRUCTION OF OUR ACCOUNT. Deals=Open Market Orders B-Pend= Number of Buy Pending orders S-Pend= Number of Sell Pending Orders B-Net= Total of Net Lots of BUY orders S-Net= Total of net lots of SELL orders Buy-BE= Break Even Distance of BUY orders Sell-BE= Break Even Distance of SELL orders Net lots= Total size of open trades after adding and subtracting BUY+SELL orders Profit= Profit or loss EQUITY RISK @ 1000 PIPS= Potential equity loss if all our open positions moved 1000 pips against us SINGLE CURRENCY RISK= This is a +ve or -ve number and it shows how many times we have traded a particular currency. This indicator version was customized for a particular basket trading strategy so this +ve or -ve number also considers pending orders and it will add or subtract BUYs from SELLs and visa versa. In other words if the AUD was bought 2 times in pairs AUDUSD and AUDNZD but it was sold 2 times in EURAUD and AUDCAD then the number will be CURRENCY RISK NUMBER will be 0 If the AUD was bought 2 times in pairs AUDUSD and AUDNZD but it was sold 4 times in EURAUD , AUDCAD, AUDCHF and AUDJPY then the CURRENCY RISK NUMBER will be -2 And here is an idea for EA traders. You could use the +ve or -ve SINGLE CURRENCY RISK number as a currency filter For example, you could tell your EA that when the +ve or -ve number reaches 4 or -4 to prevent trading that currency in any new pairs. |
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| Author: | SteveHopwood [ Fri Dec 14, 2018 1:31 pm ] |
| Post subject: | Exposure Indicator with Break Even pips for Basket traders |
Thanks for posting this. I will mention it in my wrup on Sunday. |
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| Author: | Yannis [ Mon Dec 17, 2018 6:09 am ] |
| Post subject: | Exposure Indicator with Break Even pips for Basket traders |
Great job, extremely useful tool, thank you for sharing. |
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| Author: | billv [ Mon Dec 17, 2018 6:20 am ] |
| Post subject: | Exposure Indicator with Break Even pips for Basket traders |
No worries Yanni. Btw, I will also make an MT5 version soon. All the best :hi: |
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| Author: | billv [ Tue Dec 18, 2018 9:22 am ] |
| Post subject: | Exposure Indicator with Break Even pips for Basket traders |
Sorry guys, I found an error in the code ( some currency pairs were showing wrong BE numbers) Please download a new version 1-5 from post 1 |
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| Author: | billv [ Thu Dec 20, 2018 11:30 pm ] |
| Post subject: | Exposure Indicator with Break Even pips for Basket traders |
I was going to add the MT5 version of the indicator but it seems that the extension mq5 is not allowed so I cannot upload the file. Never mind, if anyone is interested in the MT5 version send me a PM and I will email it to you. cheers |
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| Author: | SteveHopwood [ Thu Dec 20, 2018 11:57 pm ] |
| Post subject: | Exposure Indicator with Break Even pips for Basket traders |
Sorry. Me or Tommaso will sort this out tomorrow. There is no reason that I know why the extension should be disallowed apart from the board defaults. Tommaso will explain if there is indeed such a reason. Not that anyone can use your Crap T5 version mind, unless your broker offers MT5. Given the problems that Empty4 has posed, only a lunatic broker would consider transferring to CrapT5. You suddenly think that the morons that failed to solve the problems of Empty4 are suddenly going to release a perfect CrapT5? Wow. Ok, so most brokers are morons but our own Global Prime are certainly not in that category and are not in a rush to get into bed with CrapT5. Thankfully. |
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| Author: | milanese [ Fri Dec 21, 2018 5:09 am ] |
| Post subject: | Exposure Indicator with Break Even pips for Basket traders |
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This should now work Tommaso |
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| Author: | billv [ Fri Dec 21, 2018 5:32 am ] |
| Post subject: | Exposure Indicator with Break Even pips for Basket traders |
Ok It works now This must have been a leftover restriction from the old days when Steve was tough. He is softening up slowly  Steve I hear you about MT5 but I'm interested due to lower fees and the extra time frames. Anyway, here is the file if anyone is interested, Have a good Christmas everyone and a wonderful and profitable new year  |
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| Author: | milanese [ Fri Dec 21, 2018 9:56 am ] |
| Post subject: | Exposure Indicator with Break Even pips for Basket traders |
Thank you and same to you and many thanks for the mq5 version! Tommaso |
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