ShowBE Expert Advisor

Platform: МТ4

Year: 2013

Producer: ARGOLab

License: Freeware/Donateware

Currency pairs: any

Timeframe: any

Recommended brokers: FxOpen, RoboForexForex4youinstaforex,  Alpari

VPSmyForexVPS , myFXvps

Installation and start:

For installation, it is sufficient to copy the ex4 file of EA into MQL4\Experts folder of your terminal. For more details about installation read How to install a new EA ?

Purpose: ShowBE is the EA that manages your trades. It treats the whole basket of trading orders as one distributed position: determines the BreakEven price, manages the trailing stop of the basket, closes the basket when the target profit is reached and many, many more. It will help you both if you are averaging out the position with drawdown and if you are adding up to your profitable position.

Article on bloghttp://www.argolab.net/showbe.html

Official thread on the ARGOLab forum: http://forumargolab.net/

 

ShowBE 3.5 A1eng

 

Notations:

Basket – the group of trading orders.

BE – break even price level.

TP – take profit.

SL – stop loss.

 

Settings:

 

CloseAllNow (TRUE/FALSE) – close all open orders immediately. If both long and short orders are present, they will be hedge closed (thus saving the spread).

BuySell (BuyAndSell/Buy/Sell) – Filter of orders in the basket (Buy AND Sell/ only Buy/ only Sell). If option BuyAndSell is selected, EA assumes that the opposite orders lock each other. In order to work with buy and sell orders separately, use two copies of EA, one for buy and one for sell orders.

CloseBEplus (TRUE/FALSE)  – close all orders when the total profit of the basket reaches BE  + BEplus pips (without setting TPs). The level at which the orders will be closed is shown graphically on the chart. If both long and short orders are present, they will be hedge closed (thus saving the spread).

CloseBEplus assumes that the level BE + BEplus is the TP of the basket (i.e., the profit of the basket is negative, the typical situation when one averages out the position with drawdown). If you are adding up to the profitable position, use UseTrailing and BreakEven functions.

If WorkWithSingleOrder  = FALSE, CloseBEplus  will work only with baskets with more than one order. If WorkWithSingleOrder  = TRUE, CloseBEplus   will work with single order too.

SetTP (TRUE/FALSE)  – same as CloseBEplus, but TPs will be set up to all orders.

BEplus number of pips from the BE level for the functions CloseBEplus and SetTP. It can be positive or negative, and non-integer.

DeletePending (TRUE/FALSE)  delete all pending orders after all market order are closed.

NoStopsInLock (TRUE/FALSE)   remove all TPs and SLs when total position is neutral (completely locked).

WorkWithSingleOrder (TRUE/FALSE)  – If TRUE, the functions CloseBEplus  and SetTP will work with single order.  

 

TRAILING STOP

This function performs the trailing stop of the whole basket, i.e., the trailing stop will start when the profit of BEpipsStart pt from the BE level is reached.

UseTrailing (TRUE/FALSE)  – use trailing stop.

BEpipsStart – trailing stop will start when the profit of BEpipsStart pt from the BE level is reached.

TrailDist – distance of the trailing stop from the current price.

TrailStep – step of the trailing stop.

 

BREAK EVEN

This function moves the SL of the basket to the BE point when the basket profit reaches BreakEvenTrigger pt from the BE level.

UseBreakEven (TRUE/FALSE)  – use BreakEven function.

BreakEvenTrigger – trigger (in pt) for Breaking Even.

 

CLOSURE OF THE BASKET AT THE TARGET PROFIT

TProfit –  Close the basket when the profit reaches TProfit (in base currency units). If 0, switched off.

TProfitPerCent – Close the basket when the profit reaches TProfitPerCent % of the balance. If 0, switched off.

 

CLOSURE OF THE BASKET AT THE DRAWDOWN

MaxDD – Close the basket if the open drawdown reaches MaxDD (in base currency units). If 0, switched off.

MaxDDPerCent – Same as MaxDD, but in %s of the balance. If 0, switched off.

 

OTHER SETTINGS

Magic select orders by magic number. If nonzero, EA will take into account only orders with this magic number. If 0, switched off.

colBE color of the BE line.

colTP color of the TP line.

comment_color color of the text in the infobox.

box_color color of the background in the infobox.

show_box show the background in the infobox.

comment_fontsize  text font size.

 

COMMENTS

  1. The BE level of the basket is calculated including the commission and swaps.
  1. The button in the left upper corner removes/resumes the information panel.

 

Additional information:

Additional information can be found at the English thread of Show BE EA  at the ARGOLab forum.

  • Download Show BE EA.

show_be2



 

  • Donateware for Show BE EA.


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