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Hi Everyone,
( I have a bunch of other projects if I find someone that is really good and wants to work together long term. )
I need a little programm in which I can input planned entry levels and position sizes, mostly in the forex markets. As an output I just want to see what my DD% percentage would be if I took these positions and how many ADRs (Average Day Range) my average entry will be away from the current market price at this level.
It is very basic: Compare the average entry price of all my PLANNED FUTURE FOREX POSITIONS (I input the levels and lot sizes) to the market price at the entry of my last position and tell me 1) what would my DD% be and how many ADRs would the current market price be away from my average entry price.
The idea is: Lets say RSI > 70 in EURGBP in H4, so I am starting to take one short. I now expect to take several additional shorts at higher levels as price often runs higher even though RSI > 70. I want to just input the levels I plan to take shorts together with the position size I am planing to enter. At each level I want to see the DD% that I would have at that point, my average price and how many ADRs (1 or 0.5 or 2) the current market price at the last entry if now from my average price.
The idea is to have my average price be always within 0.5 ADR - 1 ADR from the current market price. As long as this is the case, there could be a green light or something. If this is not the case anymore a red light.
It is basically a scenario analysis for the future, thats all. It is not a program for LIVE trades, even though I would also want to add another function that shows me the average price of my REAL open positions that I currently have. I would want to select my positions from a currency pair I am currently trading and it should show me the average price and I want to see the 0.5 - 1 ADR Range in the chart highlighted, so I know if my average price is within that range. So this is the second aspect to this project.
I attached a screenshot of the panel design I am thinking of. I would expect you to suggest better ideas, so the programm is excellent. It needs to be in MT4.
Hope to hear from you soon.
PS: I have a bunch of projects if I find someone that is really good and wants to work together long term.