Convert to Basket Profit Indi?

Can some one tell me how can I convert the following indicator from 2 pairs to 8 pairs basket profit/loss .
thanks

i second that. need it converted to 14 pairs. thanks in advance

Hi there,

I had already posted a multi-pair basket-profit indi somewhere here at FF.

You will find it here, with a detailed explanation on how to use it:


http://www.forexfactory.com/showthre...76#post4901576


It allows you to describe the full basket of pairs, each with its "lotsize" and "direction" ('+' is long, '-' is short).

I attach it here again for you guys, enjoy...

It contains the "Dollar Index" equivalent "basket", as an example of what you can put in the BasketPairs input.

Sq

Hello Squalou,

thanks for your fine indi, i have had a little play with it today. I encountered some problems however.

Look at the screenshot. I set the indi to t101's universal hedge basket :

And set the Zero line of the indi to the starting time i openend the real basket.
( 2012-02-28 2:50am )

Now on the screenshot the indicator shows a profit of round about 43$, but the real basket profit is only about 0.58$ at that moment.

I know that the Profit line does not account for SPREAD+SWAP COST but can this difference be that big ? Or is there something i am doing wrong ?

Thanks for your help,
Tex

hi tex,


The basket profit curve is calculated based on the vertical line called "Basket BE Reference", which you can move to adjust the time of the "zero" basket value.

The thing is : this vertical "basket opening" line is theoretical, because it considers that all pairs of the basket were opened exactly at the same moment, which is the CLOSE of the CANDLE on which the vertical bar stands;
And this is of course not the case really; trades are opened one after the other, it takes up to several seconds to open a single trade, and you have 14 trades to open in this basket.
When the 14th trade opens finally, the first open trade has most probably already gone into some profit or DD that the Basket indicator will not be able to reflect.

If you switch to M1, you will be able to adjust the "Basket BE Reference" line at a 1-minute granularity;
But you cannot go below that 1-minute granularity.

The other factor is that the MT4 Terminal window will update the account balance and profit every time ANY of the pairs gets a new tick and is updated, while the indicator gets updated only when the current chart on which it is loaded (EURUSD in your case) gets a new tick.
That's another (and important) source of difference.

Swap will also play a role, but after a few days only.

With 0.1 lot per trade, that would account for an average of around 1.25$/pip roughly for each trade, for a leverage of 100;
xxxUSD pairs are exactly and always 1$/pip, xxxJPY pairs are at 1.25$/pip currently, EURGBP is 1.59$/pip at the moment.
For 14 pairs, that would be around 20$/pip, that is: if EVERY pair of the basket moves 1pip at the SAME TIME, then the basket profit moves 20$.
But some pairs are moving faster than others over a 5-minute period, so you could have a difference much larger than 20$ over a 5-minute period.
So, a difference of 43$ would only be a difference of about 2pips or so, which is very small actually.

Note that, as an alternate method, you can also move the light blue horizontal line which shows the "0.000" level;
the indicator will adjust the other levels based on this line.
Using this method, you can adjust the 0.000 level to compensate the initial delta of the basket opening.
And then compensate for swap cost every day.

I hope that is clear enough...

Sq

I just performed a test myself.
I opened (using a script in order to minimize the opening time) a 0.1lot T101 Universal hedge basket, 14 pairs.

It took only 10 seconds to open the 14 trades;

I moved my chart to M1 and moved the Reference line as close as possible to the opening "time";

I had already to compensate for 27$ of difference just due to opening cost and the moves of pairs within the first minute.

I will let it run to see if there is any deviation after a few hours.

Sq

Thanks for the reply Squalou. I understand the difference now.

Well, unfortunately the difference of the indi to my real basket is too big to backtest my basket or to look for better basket starting times, because my overall TP of the basket is set to only 20$. Perhaps there's another way to track a profit of a basket with an indi ? I have no idea how much work this would be to code. And if u are bothered with other work never mind - this is not too important to me right now because i am running forward tests with my basket at the moment. Would be a great tool to have tho :-)

thanks again

Hi tex,

I think you can use Steve's MPTM EA to achieve what you want:
as i understand, you want to close your basket of trades once it hits 20$ (or whatever) profit value.

The solution is to use MPTM set with a BasketDollarTP value, and use the same MagicNumber for all your T101 basket trades;

Set MPTM with :
ManageByMagicNumber=true,
MagicNumber=the magic number used to open all basket trades,
BasketDollarTP = 20 (or whatever your money TP is)

The best is to go to Steve's MPTM thread and download the PDF as well.

He moved all his work to his own forum now.
MPTM is here:
http://www.stevehopwoodforex.com/php...php?p=516#p516


Sq

Thanks again, yes thats what i am using already :-)

Hi Squalou,
I have sent you a PM.
Cheers

Maybe this can help

Can some one kindly assist with this indicator if possible, I need it to display my entire open trades in a form of a graph, it can change color wen equity dip bellow the original equity to a loss. I need this kind of display as I am trading on a long term manually on D1 to W1 if it can be done I will be most grateful.

It can display only the equity growth only without the rest of the functions

Thank you

The indicator come close to what I am looking for but it is too limited in terms of pairs if any one have or know where to find similar Equity Graph display can you kindly point me in the right direction or re purpose the indicator for me.

It can display only the equity growth only without the rest of the functions

Than you