Have you ever experienced a winning trade (positive trade which is yet to hit TP) but later become a losing trade? If the answer is yes, you will need YES-TM EA.
Introducing a stealthy trade management EA:
Yick Enhanced Stealth Trade Management EA (YES-TM EA)
Q: What Can YES-TM EA do?
A: It can manage your trade without having to set TP, SL and TS on the MT4 Platform. It achieves the objective by using hidden setting in the EA.
Q: What is the advantage of using hidden setting?
A: A hidden setting will hide TP and SL setting from dishonest brokers. If they know your setting, they can spike you up/down to mess around with your trade.
Limitation eliminated with tips from ydrol. The EA can now manage multiple pairs and multiple positions from just one EA chart attachment. Best to attach this EA to a very active pair with a lot of tick activities.
Q: How many digit is this EA meant for?
A: This EA is meant for 5 digit brokers. So, all the setting is in point rather than in pip. 1 pip = 10 points for 5 digit broker.
No more such requirement from Version 1.1 onward.
Q: How to use this YES-TM EA?
A: First, it can guarantee that your positive trade will not turn into a negative trade.
Second, this EA is suitable for all trading strategy of all timeframe. All you have to do is to understand how it works. It can be used for scalping, day trading and swing trading. It can also manage trades of other EAs. The possibilities are endless.
Third, it is extremely useful to use this EA if your brokers have got a huge gap of the minimum TP & SL level. For example, FXPrimus, they have a minimum of 20 pips TP setting for gold. That means, you can't send order with TP of 2 pips. The YES-TM EA can TP your trade at 2 pips (with little slippage).
Forth, it can manage trades opened by other EAs or your mouse click.
Q: How to setup this EA?
A: All manually open trade will have a default Magic Number of 0. By default, the EA is set to manage trades with Magic Number 0.
If you use another EA to open trade, you should setup both EAs (The EA you use to open trade) and the YES-TM EA with the same Magic Number. If your EA does not have a Magic Number setting, by default, the Magic Number is 0. So, you will setup the Magic Number of YES-TM EA as 0 as well. In this case, your manual trading and EA trading will be the same. YES-TM EA will manage both your manual trading and your EA trading simultaneously.
Let's say you have 2 pairs that you wish to trade. The "XAUUSD" and "GBPJPY". You attach this EA to "XAUUSD" with tp:500, sl:250, ts1:100 with Magic Number of "1234". The EA will only manage trade with magic number "1234". Then, you attach this EA to "GBPJPY" with the magic number of "5678" and with the setting of tp:50, sl:50, ts:10. The EA will only manage trade with magic number "5678" which is unique to this "GBPJPY". I don't use and GV that can interfere with each other. These 2 EA will response to their respect chart tick and will not cross managing other pair with different magic number.
NumberofRetry: If the trade order is not being accepted by the broker, how many time it should retry to execute the order.
OrderHiddenTP & OrderHiddenSL: Instead of setting the TP & SL on the MT4 platform, you use these 2 setting to manage your TP & SL so that your broker does not know your TP & SL level. This is to avoid dishonest broker sending you spike and taking you out.
OrderTS1 & OrderTS1Trigger: Let's say you enter a long trade of EURUSD at the open price (OP) of 1.32450. Trailing Stop Level 1 will be triggered at the bid price 1.32500. That is OP 1.32450+50(OrderTS1Trigger). The price of Trailing Stop Level 1 will be OP 1.32450+20=1.32470. If the price does not hit your TP and it fall back from 1.32540 to 1.32470, the order will close with about 20 point profit. Since this is not the system TS, there will be slippage. But on average, you get the price that you want. If your broker charges commission, you will have to offset the commission too. Say, if the broker charges you 1 pip commission, and with a OrderTS1 of 20, you will only have 10 points in profit.
Some may argue that what if the trade is profitable again?
Well, I don't know about your rules, my rule is, it is better to have money in my pocket than the broker's pocket. If it closes the trade at 2 pips, you could have missed the 20-100 pips extra profit. Well, that's ok, there will be another opportunities. At least, you don't have to work extra to earn your money back from the broker should the trade turn against you. This is my number 1 forex trading rule, "Preserve your Capital". It is just unacceptable for me to have a winning trade turning into a losing trade.
OrderTS2 & OrderTS2Trigger: Let's say you enter a long trade of EURUSD at the open price(OP) of 1.32450. Trailing Stop Level 2 (OrderTS2) will be triggered at the bid price 1.32550. That is (OP) 1.32450+100(OrderTS2Trigger). The price of Trailing Stop Level 2 will be OP (OrderTS2) will be 1.32450+50=1.32500. If the price does not hit your TP and it fall back from 1.32570 to 1.32500, the order will close with about 50 point profit. You have just locked in another 30 point profit from OrderTS1.
OrderTS3 & OrderTS3Trigger and OrderTS4 & OrderTS4Trigger work the same. All the reference point is from the OP of the trade.
As you can see, we only have 4 level of Trailing stop. How does it manage the beyond level 4?
From after Trailing Stop Level 4 is triggered, the Trailing Stop no longer refers to the OP. It starts referring to the Trailing Stop Level 5 price (hidden) with OrderTS4 as reference.
Using the default setting:
Open Price: 1.32450
TS1Price: 1.32470
TS2Price: 1.32500
TS3Price: 1.32550
TS4Price: 1.32650 (After price triggered at 1.32850)
TS5Price(Hidden): ??
Without turning on (TRUE) the OrderTS5Jump flag, it will behave like a MT4 platform Trailing Stop. But it is hidden from the broker.
That means, with OrderTS5Jump set to FALSE, and when the price goes to 1.32900, TS5Price (Hidden) = 1.32700 (1.32900-200[OrderTS4 Valuen rm TnceLevel 4 is triggerrouill manage 10 trades from 1 pair.]). If the price rise again to 1.32946, TS5Price (Hidden) = 1.32746 (1.32946-200[OrderTS4 Value]).
If OrderTS5Jump is set to TRUE, TS5Price (Hidden) will maintain at 1.32700 if the price rise up to 1.33099. Once it hit 1.33100, TS5Price (Hidden) = 1.32900. If the price hit 1.33300, TS5Price (Hidden) = 1.33100. It will update the TS5Price (Hidden) only after there is a (2x) OrderTS4 point gain. This is to give extra margin for the price to move in a swing / day trading strategy.
BreakEven Setting. If it is set to TRUE, it will attempt to close at the Break Even Profit Level after X seconds of BreakEvenTime (in seconds). If it is set to FALSE, it will not try to break even at all. The trade will resume its normal course which will hit either TP, SL or TS according to your setting.
Respectfully,
Yick Tan
Sept 6, 2013
ps: A special request from me – the author. This YES-TM EA is released under GPL License. You can download and use it anyway you want, even as a part of your commercial EA. There will be no issue with me. Just don’t remove the author and website link. I have gained much from the Forex communities and I hereby wish to contribute something of value back. All I ask is, if you use my EA and your EA is making money, or you know any EA is making money, do share it with me. (PM me.)We grow our knowledge by sharing ours with others.
Disclaimer: This EA comes as it is and without any warranty. I am not responsible for your any of your losses using this EA. Use at your own risk.
Version 1.1 released on Sept 10, 2013.
Do report them if you find one.
Next Version Update:
Option to restore TS Setting When System Crush and Restart.
Option to set MT4 System TP and SL. This is not a stealth feature but safe guard your trade in case when the internet connection is lost.
Attached File(s)
YES-TM[1.1].mq4
21 KB
|
4,855 downloads
|
Uploaded Sep 9, 2013 11:19pm
When in doubt, wait it out.