What it is: Below, you'll find my Swiss Army EA. I've designed it so that it canmanage orders in your MT4 terminal using a large variety of methods.Features includes breakevens, trailing stops, setting/removing fortakeprofits and stoplosses, and many close-out conditions; you alsohave ability to tell the EA which orders it can manage. This EA is anattempt to do away with little scripts for deleting orders and whatnotand just put ALL that crap in one nice package. I figure this EA shouldbe useful for manual traders, and may also to augment EAs that areskimpy on their features, although I cannot guarantee that it will befully compatible with all EAs.
How to use it: Apply it to a chart. The orders that it is allowed to manage can bechanged by changing the "Specific" options. It will perform trailingstops, breakevens, or closing of orders (as specified by user) forwhatever orders it is allowed to manage (also specified by user). Forexample, if Swiss Army EA is allowed to manage all orders and youenable the trailing stops to 30, it will apply a trailing stop of 30 toall orders in your terminal. The EA will print to the screen what it isallowed to do, so that should help you along in figuring out what it isdoing. Each instance of Swiss Army can only hold a certain number ofsettings without causing conflict within itself. If you require manydifferent management features to be enabled, you may have to runanother instance of Swiss Army to do everything that you want.Remember: You need one CONDITION, one ACTION, and one ORDER TYPE, atleast.
What I need from you, the user: If you want to use the EA, but don't know how to get it to what youwant, post and ask me about it. I'll be able to provide you with a listof settings to use if the EA currently supports it. Please leavefeedback and tell me what kind of management options you'd like to seein future versions; feel free to post any scripts, code, or functionsthat you believe would be useful.
SWISS ARMY EA: It does everything but place its own orders!
IMPROVED: The actions that appear under ths "Modify Orders" section can now modify pending orders IMPROVED: TakeProfits and Stoplosses, when set, will be applied to any hedge orders that are opened by Swiss Army CHANGED: TakeProfits and Stoplosses, when set, will be in relation tothe order's open price, NOT the current price (as in v1.5) NEW FEATURE: RequireAllConditions when selected, will require that allselected conditions be met before actions will occur. For example, if adrawdown of 1% and Time_Activation at 12:30 are selected, actions willoccur if at 12:30, if there is a drawdown of 1% or more.
Your TrailingStop when triggered will move SL to current market pricewhich will most of the time close the trade anyway because price willmost likely move a few pips against you do to normal marketfluctuation. If not, how often does TS keep moving SL? or does it moveit anymore?
The trailing stop is always X pips BEHIND the current price, X being the number that you specify.
BreakevenAt=10 when triggered will move SL to trade open price, thenwhen you hit another 10 (20 pip profit) will it move up another ten oris that what BreakevenSlide does? once BreakevenAT is triggered thatsit for BEA and BreakevenSlide=2 takes over and will keep moving SL 2pips every +2pip more in profit price moves, correct?
This is not how the Breakeven feature works. The Breakevenfeature can only be activated once, and after that, it will no longermodify the stops.
What do the settings BreakEvenAt, BreakEvenSlide and TrailingStop mean? For example, what does this setting do?
Breakevens and TrailingStops are two different methods for managing the orders' stoplosses.
Because "BreakEvenAt" is at 10, when an order is profitable by 10 pips,its stoploss will be set to the open price (which will make it"breakeven") The "BreakEvenSlide" at 20 will move the "breakeven" point20 pips higher than the order's open price, which, in this case, is notpossible; therefore the "BreakEvenSlide" input must always be less thanthe "BreakEvenAt" input.
I'm presently using an EA called PipsMiner which handles negative trades poorly and the sl in the program is set to 210 for 'each' trade...being that it usually opens 4 trades at a time you often get stopped out at a loss of $840 dollars, so what I want to do is either immediately close all negative trades or cut the loss ( much lower sl ) how do I do this with swiss army EA