MJ Indicators Help Info

TradePlanner_0.00.mq4 File Reference


Detailed Description

Author:
Copyright (c) 2011, MJ
Version:
0.00

$$$ NOTE $$$: If you post the indicator somewhere or mail it to a friend: please include also the info file so that they may benefit from it too. THANKS


TradePlanner_main.gif


SHORT DESCRIPTION: ALopBarTouchMaZone (ALERT Chart Bar touches the MA Zone (Zone between (incl MA themself) two MA's)

Is a CHART HELPER indicator to calculate final Risk Reward Ration, Maximum Loss and other things for multiple Take Profit settings ect.. ATTENTION: On purpose I calculate this only once and do not update the results as the price changes. But normally changing the chart period should recalculate it.

Usually I don't say this: as it is an assumed shared "common knowledge": there is no guarantee that this indicator(or any other one downloads) works correctly.

If you use this indicator and loose more than the calculated MAX LOSS: it's simple your loss.

Always make sure indicators work as you expect them:

   Calculation is base on Oanda's Forex Trading Profit Calculator http://fxtrade.oanda.com/account/profit-calculator/
   This calculation follows the following formula:

   (Closing Rate - Opening Rate) * (Closing {quote}/{home currency}) * Units

   For example, suppose:

   Home Currency: USD
   Currency Pair: GBP/CHF
   Base = GBP; Quote = CHF
   Quote / Home Currency = CHF/USD = 1.1025
   Opening Rate = 2.1443
   Closing Rate = 2.1452
   Units = 1000

   Then:

   Profit = (2.1452 - 2.1443) * (1.1025) * 1000
   Profit = 0.99225 USD

NOTE: PROBLEM as the Closing Exchange Rate for: Quote / Home Currency is in the future (when a possible trade is closed) we can not perfectly account for it at the time of trade planning/entry - so we just use what we have: that's the last current available one.



COMPARE TO OTHER INDICATORS: NONE



OTHER INPUT VARIABLES

Other Input Parameters which are specific to this Indicators etc....



_____________1_____________ = "<<< Account SETTINGS >>>"



*bUseCurrentAccount: If TRUE: dAccountBalance and sAccountCurrency are retrieved from the current account. If FALSE: if one wants an other AccountBalance as calculation base or uses an other account for the trade or just want to set dAccountBalance and sAccountCurrency manually.

*dAccountBalance: Manual entry for: Account Balance.

*sAccountCurrency: Manual entry for: Accounts (Home) Currency. needed for the calculation: e.g. EUR

*dRiskPerTradePercentage: Max Loss in Percentage of the AccountBalance.



_____________2_____________ = "<<< Trade SETTINGS >>>"



ALL Take Profit Unit Percentages must sum up to 100%. Second and Third Take Profit are optional.

*dEntryPrice: dEntryPrice of the planned trade.

*dStopLossPrice: StopLossPrice of the planned trade. NOTE: if the SL is hit you have lost your defined: dRiskPerTradePercentage (Max Loss in Percentage from the dAccountBalance.)

*dFirstTakeProfitPrice: First TakeProfit Price of the planned trade: this one is not optional.

*dFirstTakeProfitUnitPercentage: How many Units we want to close at the dFirstTakeProfitPrice: Percentage of all enterted Units. Not optional: if you use only one TakePrift: set this to 100%.

*dSecondTakeProfitPrice: Second TakeProfit Price of the planned trade: this one is optional.

*dSecondTakeProfitUnitPercentage: How many Units we want to close at the dSecondTakeProfitPrice: Percentage of all enterted Units. Optional.

*dThirdTakeProfitPrice: Third TakeProfit Price of the planned trade: this one is optional.

*dThirdTakeProfitUnitPercentage: How many Units we want to close at the dThirdTakeProfitPrice: Percentage of all enterted Units. Optional.



_____________3_____________ = "<<< DISPLAY SETTINGS >>>"



Different ways to configure the Display: No explanation just play around with it if the default does not fit your screen etc..

===== END OF ===== OTHER INPUT VARIABLES =====