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Specification
Good day ,
I need a script with the following criteria
Background:
I have modified my Fib extension with specific parameters that I use to enter and exit trades and manage my risk. Entering trades manually is too slow in a fast moving market. I need a script that will automate the process. Basically I just changed the descriptions of the fist two levels to SL and Entry
Here is the exact perimeters of my Fibonacci extension. Refer to Attachments
What I need is the following :
I will attach the fib to my chart as normal and execute the script that must have the following parameters.
1: “RISK” ( This should be a % parameter of my current equity value. The script should check my equity level at the time of execution , and determine lot size. VERY IMPORTANT. The script will open PENDING 3 orders on the entry line, one for every TP level of the Fibonacci extension. Spread should be inclusive of the risk % .)
2: “TP1 percentage”
3: “TP2 percentage”
4: “TP3 Percentage “ ( The TP levels refers to the 161 (TP1) 262 (TP2) and 423 (TP3) levels of the Fibonacci extension. The script should determine what the lot size should be of all three orders combined, and divide the lots between the 3 orders based on the TP1,2 and 3 percentage level above
Example: So lets say I have a $1000 account and I only want to risk 4% of my account. The script should determine that 4 % of my account based on the SL point value of the fib extension is 4 LOTS for example : Now I say TP1 should be 50% and TP2 25% and TP 3 25 %. The script will open 3 PENDING orders , one for each profit target level. TP1's order will be allocated 2 of the 4 lots as the TP1 % setting was set to 50%. TP 2 and 3's orders will be allocated 1 lot each, as 25% of 4 lots is 1Lot. The combined lots of all three orders equates to 4 Lots (4% of my account ) that was specified in the “RISK” parameter. DEFAULT TP LEVEL SHOULD BE 50% 25% 25% as in the example. I will change if required
SIDE NOTE: MY BROKER DOESN'T ALLOW ORDER TO BE ENTER WITH AN EXISTING TP AND SL LEVEL. THE ORDERS MUST FIRST BE PACED, AND THEN MODIFIED WITH A SL TP AFTER ITS PLACED ON THE CHART.
IF ANYTHING IS UNCLEAR PLEASE ASK.
