The Hidden Pending EA

[milanese]

...
Maybe there is a script to place a buy- and/or a sell-limit-pending by default with an appropriate MN, the HPEA will recognize?
....
Such a script might be also helpful for initial-orders to create a corresponding magic-number the HPEA can work with.

Moving on…friends

Over60

Hi Over60,

attached the script, you asked. Uses OOTB same magic-number as HPEA, it autorecognizes if you want to set limit or stop orders...
If any input should be unclear just ask here..

Place_PendingHelperHPEA.mq4

Cheers

Tommaso

[Over60]

Hi Milanese,

Thank you very much for considering my request concerning a script to create limit-orders with MagicNumber (MN) for the HPEA.

The following request refers to the HP as to the APTM.

Using Partial Close (PC), assuming e.g. at 10 pips in TP, the order-management can regarded differently.
By discrete trading we can decide, what we like to do after PC by taking already profit, which depends of the used lotsize.

The remaining order after PC could e.g. locked by SL at BE, as a protection stop, under consideration that trailing open end will still perform, but anyway then trailing will need changed parameters by an additional option.

E.g, I set initial SL = 50. JSL= 10, BE = 5. By a move of 5 pips (at BE-level) without PC setting, the JSL simultaneously will start jumping from 50 to 40 pips concerning the price. The SL-distance to actual price will decrease by the amount of defined jump-steps, if price moves in order direction (every 10 pips) until e.g. 10 pips MinDistanceToPrice has been fulfilled for further jumping.

Please correct my statements, if I´m wrong.

But with PC and trailing in combination, I´d like to lock with JSL at BE after PC for the remaining position.
Afterwards the trailing should be continued by using the SLMindistanceToPrice and the defined jump-steps as usual.

Btw, there might be traders, who do not wish to cover resp. to lock the remaining position after PC at BE by changed trailing function, because by calculation and considering already taken partial profit, in the worst case there might be a zero-sum result, otherwise this option might work via trailing during a homerun open end.

I assume there has to be an additional option by true/false, if locking and further trailing starting at BE for the remaining position is requested.

Hope that my description was not confusing.

With kind regards
Over60

[milanese]

Hi Milanese,

[hide]Thank you very much for considering my request concerning a script to create limit-orders with MagicNumber (MN) for the HPEA.

The following request refers to the HP as to the APTM.

Using Partial Close (PC), assuming e.g. at 10 pips in TP, the order-management can regarded differently.
By discrete trading we can decide, what we like to do after PC by taking already profit, which depends of the used lotsize.

The remaining order after PC could e.g. locked by SL at BE, as a protection stop, under consideration that trailing open end will still perform, but anyway then trailing will need changed parameters by an additional option.

E.g, I set initial SL = 50. JSL= 10, BE = 5. By a move of 5 pips (at BE-level) without PC setting, the JSL simultaneously will start jumping from 50 to 40 pips concerning the price. The SL-distance to actual price will decrease by the amount of defined jump-steps, if price moves in order direction (every 10 pips) until e.g. 10 pips MinDistanceToPrice has been fulfilled for further jumping.

Please correct my statements, if I´m wrong.

But with PC and trailing in combination, I´d like to lock with JSL at BE after PC for the remaining position.
Afterwards the trailing should be continued by using the SLMindistanceToPrice and the defined jump-steps as usual.[/hide]
Btw, there might be traders, who do not wish to cover resp. to lock the remaining position after PC at BE by changed trailing function, because by calculation and considering already taken partial profit, in the worst case there might be a zero-sum result, otherwise this option might work via trailing during a homerun open end.

I assume there has to be an additional option by true/false, if locking and further trailing starting at BE for the remaining position is requested.

Hope that my description was not confusing.

With kind regards
Over60

Hi Over60,

if I understand you right, you want an option that the HPEA does with partclose on BE only set the the BE but do no further moving of the SL after the partclose is done?

Cheers

Tommaso

[Over60]

Hi Milanese,

after Partial Close, i wish to place the SL immediately to BE as an alternative, independent from JSL-setup, first and mainly to cover the remaining Position, even JSL is defined.

But trailing should be work furthermore, if price moves furtheron in order direction using the defined JSL setup, but will only start and continue to jump from BE-level, if price moves on...
If I do not have the option to place the SL to BE, the JSL will work by basic-default mostly < entry, which is the second scenario.

If Initial SL = 50 pips, assuming a PP/PC -Level of 10 or 20 pips, the JSL normally will not yet moved to BE.

That are the two scenarios and that is the point to consider, I tried to describe.

Hope that helps?

moving on...
Over60

[milanese]

Hi Milanese,

after Partial Close, i wish to place the SL immediately to BE as an alternative, independent from JSL-setup, first and mainly to cover the remaining Position, even JSL is defined.

But trailing should be work furthermore, if price moves furtheron in order direction using the defined JSL setup, but will only start and continue to jump from BE-level, if price moves on...
If I do not have the option to place the SL to BE, the JSL will work by basic-default mostly < entry, which is the second scenario.

If Initial SL = 50 pips, assuming a PP/PC -Level of 10 or 20 pips, the JSL normally will not yet moved to BE.

That are the two scenarios and that is the point to consider, I tried to describe.

Hope that helps?

moving on...
Over60

I will take a look to add this optional with the next update..

Cheers

Tommaso

[milanese]

march 20th,2015
Added new optional to move SL to BE with the PartClose as firstTP independend of the SLMinDistanceToPrice
To use this optional (OOTB ist is deactivated) set SetBEonPartCloseFirstTP to true. Note you must have enabeled PartCloseAsFirstTP and PartClose in general must be enabled..
As always you find the new build 169 attached on the first post. In case you have some questions how to use the HPEA, or the functions, to match your trading strategy just ask here.

Cheers

Tommaso

[rickC]

Hi, tommaso
First of all, many thanks for your work on this. I have tested and used HPEA for a while in my short-term trading.
After PartCloseAsFirstTP, I used to take another 50% off on the remaining lots around Wave3 manually, and let the remaining lots riding the trend until SL hit. Wave3 sometime is hard to tell, I might measure wrong and take second PartClose profit off a bit early. However I found most of my last remaining lots’ SL is hit around Wave3, due to my wider trailing stoploss.
Simply say,
1) my first TP target would be at the most recent support/resistant area(used PartCloseAsFirstTP): sometime it is Fib 0.618, sometime it is 50MA, or special roundNo. area. Etc.
2) my second TP target area would be at Wave3. Meanwhile using manual to close 50% of remaining lots.(need a function for PartCloseAtSecondTP)
3) The third profit taken is god’s gift. So I don’t bother much. Sometime has it, most of time will back to wave3 or below wave3 hit the SL in my case. in the real time trading I don’t know if it is a 5wave up or down, sometime and most of time it is 3wave ABC only.

Could you add a function for PartCloseAtSecondTP, also add one more function PartCloseAtSecondTP=true/false if other traders don’t like that ideal.

have a lovely weekend.

Regards,
Rick

[milanese]

Hi, tommaso
First of all, many thanks for your work on this. I have tested and used HPEA for a while in my short-term trading.
After PartCloseAsFirstTP, I used to take another 50% off on the remaining lots around Wave3 manually, and let the remaining lots riding the trend until SL hit. Wave3 sometime is hard to tell, I might measure wrong and take second PartClose profit off a bit early. However I found most of my last remaining lots’ SL is hit around Wave3, due to my wider trailing stoploss.
Simply say,
1) my first TP target would be at the most recent support/resistant area(used PartCloseAsFirstTP): sometime it is Fib 0.618, sometime it is 50MA, or special roundNo. area. Etc.
2) my second TP target area would be at Wave3. Meanwhile using manual to close 50% of remaining lots.(need a function for PartCloseAtSecondTP)
3) The third profit taken is god’s gift. So I don’t bother much. Sometime has it, most of time will back to wave3 or below wave3 hit the SL in my case. in the real time trading I don’t know if it is a 5wave up or down, sometime and most of time it is 3wave ABC only.

Could you add a function for PartCloseAtSecondTP, also add one more function PartCloseAtSecondTP=true/false if other traders don’t like that ideal.

have a lovely weekend.

Regards,
Rick

Hi Rick,

I put it on my to do list for the next update..

Cheers

Tommaso

[Over60]

Hi Milanese,

As far as I could trail within short (live long on EURUSD) after release.

PC was enabled, the SL was executed, but instead to place the SL to the BE-level (setup BE = entry + 5 pips), the HP resp. the SL did cover exactly the entry-price. Pic of the orders find attached. Because it happens several times with different defaults, I´m insure, maybe caused by my setup or slippage?
I will stayed tuned.
Anyway, that minor deviation doesn´t impact so far the expected functionality.

In addition, when the SL-Min distance to price did not correspond by default with the BE-Level, e.g. PC-Level < SLMinDistance in reference to entry-price, the defined BE-Level has to be considered as a safety-SL by Prior after PC, where further trailing in order-direction should start, if BE/SL-stop will not hit before by retracement.

Thanks for your great job

Trade well
Over60

[milanese]

Hi Milanese,

As far as I could trail within short (live long on EURUSD) after release.

PC was enabled, the SL was executed, but instead to place the SL to the BE-level (setup BE = entry + 5 pips), the HP resp. the SL did cover exactly the entry-price. Pic of the orders find attached. Because it happens several times with different defaults, I´m insure, maybe caused by my setup or slippage?
I will stayed tuned.
Anyway, that minor deviation doesn´t impact so far the expected functionality.

In addition, when the SL-Min distance to price did not correspond by default with the BE-Level, e.g. PC-Level < SLMinDistance in reference to entry-price, the defined BE-Level has to be considered as a safety-SL by Prior after PC, where further trailing in order-direction should start, if BE/SL-stop will not hit before by retracement.

Thanks for your great job

Trade well
Over60

You are using the setting SetBEonPartCloseFirstTP true, from the latest update..
---> http://www.stevehopwoodforex.com/phpBB3 ... 60#p117860

Added new optional to move SL to BE with the PartClose as firstTP independend of the SLMinDistanceToPrice
To use this optional (OOTB ist is deactivated) set SetBEonPartCloseFirstTP to true. Note you must have enabeled PartCloseAsFirstTP and PartClose in general must be enabled..

This setting moves the SL to the openPrice when your first TP setting is reached not looking at your SLMinDistanceToPrice.

Cheers

Tommaso