Trade Calculator For All Open Trades To Reach Breakeven [Req] | Forex Factory

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Trade Calculator For All Open Trades To Reach Breakeven [Req]

  • #1
  • First Post: Aug 18, 2016 7:17pm Aug 18, 2016 7:17pm
Hi everyone,

I am looking for a trade calculator to calculate the exact price which all my trades will be in breakeven. I hedge with the same pair many times, so I need to know at which price my trades are in breakeven. e.g. I have multiple 0.01 lot EUR/USD BUY and multiple 0.02 lot SELL positions, so I want to know at which price will I be at breakeven.

There will also be an input of the spreads which I can enter to be included in the calculation.
There will also be an input of the different pair so the calculator knows which $/pip rate to use.
There will also be an input on how many pips in profit I want from all this trades I am in and display how much money I will profit.
e.g. I have more SELL positions and I will breakeven at 1.1340, what if I want to close all positions at 1.1330, I want the calculator to show me how much profit I will gain if I set the take profit at 1.1330

Additional:
The calculator can help to set the T/P and S/L for all my position automatically. As I hedge with the same pair, I will need to close the bigger SELL lots with T/P and smaller BUY lots with S/L to gain an overall profit.

I hope that this is clear, I will draw an example using excel and post here as soon I can. I appreciate those who reads this and helps out.

Please ask any questions if you are unclear.
bit . ly/fantestimonials
  • #2
  • Aug 19, 2016 4:26am Aug 19, 2016 4:26am
Some progress: (Look at pic)
Hedge Calculator.png
I still have to manually enter the "Current Price" to get the break even point.

This is only for EUR/USD as other pair have different $/pip value.

Lastly, I have to go back to the MT4 platform to set the T/P & S/L manually.

Additionally, this would be perfect for FIXED SPREAD accounts.

That's all for now.
Attached Image (click to enlarge)
Click to Enlarge Name: Hedge Calculator.png Size: 44 KB
bit . ly/fantestimonials
  • #3
  • Aug 22, 2016 1:32am Aug 22, 2016 1:32am
Hi,
Made a stab at starting this for you but not sure if calcs are correct; could you let me know please and if they are will look at rest of request.

Place in experts folder.
Attach to any blank chart.

M.
Attached File(s)
File Type: ex4 mn TradeCalc.ex4   12 KB | 1,116 downloads
If you think I'm mad, I must be mad
  • #4
  • Aug 22, 2016 2:08am Aug 22, 2016 2:08am
Quoting futurespec
Hi, Made a stab at starting this for you but not sure if calcs are correct; could you let me know please and if they are will look at rest of request. Place in experts folder. Attach to any blank chart. M. {file}
thank u. will try it out and get back to you.
bit . ly/fantestimonials
  • #5
  • Aug 22, 2016 7:22am Aug 22, 2016 7:22am
Quoting futurespec
Hi, Made a stab at starting this for you but not sure if calcs are correct; could you let me know please and if they are will look at rest of request. Place in experts folder. Attach to any blank chart. M. {file}
Hi Futurespec,

I am going to test Trade calculator indicator. In fact, I have been looking for similar solution.

Will you kindly help programme an indicator/EA to manage risk and reduce breakeven by averaging entries ?

Attached is an open-source indicator, modified by veteran trader Igor, which helps manage drawdown and do averaging.

The indicator can compute average entry price, average stop loss and print on chart in real-time . With each trade the average entry price moves closer to the
the trade entry price and the breakeven is reduced.

Request for new inputs:

Is it possible to print text on chart (in one of the four corners) for a hypothetical averaging management plan. EA might do the job but not sure whether the indicator can print on the basis of a hypothetical trade plan.

For this indicator/EA, following inputs will be needed:

1. Trade entry mode: (a) Pips distance decided by user depending .
For ease of coding, the user will decide on the distance by using other separate indicators like FIBO levels or Moving Average Crossovers. I am attaching the picture just for reference. There is no need to include FIBO or MA levels in the indicator/EA.

2. Time expected to achieve breakeven point in number of bars of TF selected. Example I want to gain back 240 pips by aiming for 20 pips change for each lot in 30 days (equivalent 120 4H bar numbers). Trader will decide on the time span of the grid entries by comparing with the cycle of the trend.

3. Size factor of the lots: (a) Equal (b) varying with input for five positions. Example, 1 position may be split in 5 equal lots of 0.20 or 1st lot of 0.10, 2nd lot of 0.20, 3rd lot of 0.30, 4th lot of 0.60.

4. Risk factor of total averaged position: There will not be a separate stop loss figure for each lot. Just one cumulative stop loss at which point the all the positions will be liquidated

5. TP: Just one cumulative figure above breakeven point . Input will be breakeven point plus profit in pips or percentage.

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: Averaging Indicator idea futurspec.png Size: 54 KB
Attached File(s)
File Type: ex4 Show_AverageEntryPrice_v2.1 600+.ex4   43 KB | 729 downloads
File Type: mq4 Show_AverageEntryPrice_v2.1 600+.mq4   18 KB | 981 downloads
Practice makes a person perfect
  • #6
  • Aug 22, 2016 7:28am Aug 22, 2016 7:28am
Sorry but no.
This is why I stoppped coming here before.
Do 1 thing and someone else wants this, then that , then mod, and, and and
and so it goes on.

No disrespect intended.

I just happened to drop into FF and saw that someone wanted help and I had a little time to spare.

M.
If you think I'm mad, I must be mad
  • #7
  • Aug 22, 2016 8:10am Aug 22, 2016 8:10am
Ok. I don't feel bad. Keep visiting FF and do help once in a while whenever you feel like.
In any case I am glad to see you here.

Also it has given me a chance to post an useful indicator which the FF members might find useful, including Formefactory.

Testing: But the Trade calculator EA coded by you is showing this.

Am I doing something wrong?
Attached Image (click to enlarge)
Click to Enlarge Name: EA tradecalc.jpg Size: 235 KB
Practice makes a person perfect
  • #8
  • Aug 22, 2016 8:36am Aug 22, 2016 8:36am
You need to change the text colour if you are using black background.

Unless you are Superman
If you think I'm mad, I must be mad
  • #9
  • Aug 22, 2016 6:50pm Aug 22, 2016 6:50pm
I've tested both indicator by redrhino and goopfx, I'll post pics next time.

Redrhino, nice clean indicator, what I like best, it shows the pips to hold, or how many more pips before my account reach margin call, mine was 14,000 pips, lol.
The breakeven level calculated was wrong, the line was grey and abit too thick for me, no modification allowed on this.

goop, it was minimalist. very simple indicator on the top right hand side, but again, the calculation was wrong, i think it calculated all open orders, not just the pair i placed it on the chart, and net lots calculated was also wrong. it was 0.04 but the indicator showed 0.12, anyway, lastly, after remove the indicator i had to also remove the 'object'.

futurespec, I also tried your, maybe I do not know how to use the settings.
I changed the font colour to white but only see the pairs and no info after that.

I'm using 5 digit broker, and also, i appreciate all the help. I am currently using the "average price v 3" indicator by Joca, you can google it, should find it. thanks guys. this indicator was by PM from myfxbook, i appreciate it!
bit . ly/fantestimonials
  • #10
  • Aug 22, 2016 10:17pm Aug 22, 2016 10:17pm
Attached Image

No settings at present, just colour and pairs.
Obviously Auto trading should be enabled and allow auto trading under tools.

Just put on new chart and came up within 2 secs.

M.
If you think I'm mad, I must be mad
  • #11
  • Aug 22, 2016 10:23pm Aug 22, 2016 10:23pm
Quoting ForMeFact0ry
I've tested both indicator by redrhino and goopfx, I'll post pics next time. Redrhino, nice clean indicator, what I like best, it shows the pips to hold, or how many more pips before my account reach margin call, mine was 14,000 pips, lol. The breakeven level calculated was wrong, the line was grey and abit too thick for me, no modification allowed on this. goop, it was minimalist. very simple indicator on the top right hand side, but again, the calculation was wrong, i think it calculated all open orders, not just the pair i placed it on the chart,...
Hi Formefactor,

Do you have the same idea as I have?
http://www.forexfactory.com/showthre...91#post9097291
Practice makes a person perfect
  • #12
  • Aug 22, 2016 10:25pm Aug 22, 2016 10:25pm
Ok , will look again when get time.
Did experts show a div 0 error ?

M.
If you think I'm mad, I must be mad
  • #13
  • Aug 23, 2016 12:21pm Aug 23, 2016 12:21pm
Quoting ForMeFact0ry
... I changed the font colour to white but only see the pairs and no info after that. I'm using 5 digit broker, and also, i appreciate all the help. I am currently using the "average price v 3" indicator by Joca, you can google it, should find it. thanks guys. this indicator was by PM from myfxbook, i appreciate it!
Hi, if you don't use specific magic number, try to set it to 0

Rob
  • #14
  • Aug 24, 2016 5:01am Aug 24, 2016 5:01am
Sorry should have mentioned that.

Set Magic to 999 to show all trades
Attached File(s)
File Type: ex4 mn TradeCalc.ex4   13 KB | 826 downloads
If you think I'm mad, I must be mad
  • #15
  • Aug 25, 2016 9:47am Aug 25, 2016 9:47am
Nice one!
I wish i have a tool that count all SL & TP that are running in the moment. Good if this are seperated for buy and sell positions.
Can you do this?

Thanks

Michael
Perfection is the enemy of good enough!
  • #16
  • Sep 1, 2016 4:18am Sep 1, 2016 4:18am
Hey guys, this is the indicator right now.

It gives me a line (i changed it manually to aqua colour), then reduced it's width to 1, then... on the picture... the break even price, then the distance in pips, then the current amount in profit/loss for that particular pair, the net lots opened, then finally the number of order for that particular pair.

personally, I think it's too much info, but it's very good anyway, I emailed 'thanks' to the creator of the indicator, and he/she responded.
Attached Image (click to enlarge)
Click to Enlarge Name: new average price indicator.png Size: 3 KB
bit . ly/fantestimonials
  • #17
  • Sep 1, 2016 4:30am Sep 1, 2016 4:30am
Quoting ForMeFact0ry
Hey guys, this is the indicator right now. It gives me a line (i changed it manually to aqua colour), then reduced it's width to 1, then... on the picture... the break even price, then the distance in pips, then the current amount in profit/loss for that particular pair, the net lots opened, then finally the number of order for that particular pair. personally, I think it's too much info, but it's very good anyway, I emailed 'thanks' to the creator of the indicator, and he/she responded. {image}
Can you please post the indicator ?

thank you.
Practice makes a person perfect
  • #18
  • Sep 1, 2016 4:46am Sep 1, 2016 4:46am
Quoting simnz
{quote} Can you please post the indicator ? thank you.
hi sim, I saw your earlier post in seeking help to modify the indicator, can you tell me abit more, I am not a coder.

and can you tell me the difference between igor's and joca's indicator?

thanks.
bit . ly/fantestimonials
  • #19
  • Sep 1, 2016 8:46am Sep 1, 2016 8:46am
Quoting ForMeFact0ry
{quote} hi sim, I saw your earlier post in seeking help to modify the indicator, can you tell me abit more, I am not a coder. and can you tell me the difference between igor's and joca's indicator? thanks.
Hi formefactory,

I don't have Joca's indicator. So can't comment about it. Even Igor's works on the trading account.

My main interest is in obtaining a hypothetical indicator, which will treat user's input of pips as equity, and churn out plan to average positions to reduce
breakeven and project lots to be traded.

http://www.forexfactory.com/showthre...91#post9097291
Practice makes a person perfect
  • #20
  • Sep 1, 2016 5:44pm Sep 1, 2016 5:44pm
Quoting simnz
{quote} Hi formefactory, I don't have Joca's indicator. So can't comment about it. Even Igor's works on the trading account. My main interest is in obtaining a hypothetical indicator, which will treat user's input of pips as equity, and churn out plan to average positions to reduce breakeven and project lots to be traded. http://www.forexfactory.com/showthre...91#post9097291
from my friend at myfxbook : - Average price indicator mql5.com/en/code/12037
You may want to edit the code to show you a thinner line (I dont like the fat line!)

-end-

sim, can you post a pic of the igor's indicator on your charts? I'll come around to downloading it and attaching it to my charts... as and when I am available...

maybe i might know what you are talking about. example: u want to go in the opposite direction and want to breakeven in 10 pips (example), so u need the calculator to determine the lot size. maybe... that is it.
bit . ly/fantestimonials
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