I have seen scripts such as [intelatrader.com/Content/IntelaTrader_Setup.exe] Cash Guardian, but it looks like it is a fixed amount. I want to calculate the next profit target. Bas (cash guardian is a part of the intelatrader package, it has a template that makes a chart completely black, and then you apply the cash guardian script to it which will give you summary of acct balance and snapshot of equity. Then snapshots equity in real-time. so you can see what you are working with.
Cash Guardian ScreenShot.jpg- Cash Guardian screenshot. This was one of the closest things i found, but it was a script, and you couldn't do it by percentage.
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Also EAs such as Swiss Army EA and RainGull AutoTS EA do most of what I want, but it looks like it starts with the current account balance (not equity). I'm not sure how it handles it when trades are closed out manually or if money were deposited to the account. Will the percentage be of the new acct balance in real time? That might throw off the numbers.
I would like it to be visible on a dark background with nothing else on it, similar to CashGuardian. Also, the text for the EA on the chart is bigger and easier to read. I And some information can be placed left to right. I don't need a whole list of stuff going up and down, because of limited screen space. I have attached a screenshot. Notice it calculates realtime equity snapshots. it also will close all trades after equity $$ target has been reached. It then takes a new snapshot after verifying that the acct is flat. (or it may be the acct balance, as if the acct is flat, the acct equity should = the acct balance). So in this way, it continues unattended. Only if I have to restart mt4 terminal does it freeze because it is a script. So you have to re-apply it.
I wouldn't mind manually adding the starting equity the first time. but would be better if the EA can do it yourself.
Notice that I do NOT want the suggested manager EA to modify existing orders (although in the future maybe). only close them when the equity target is reached.
What I want is one that takes a snapshot of the current equity (one time) and then will close all open and pending trades after xx% profit has been reached. The trading EA (the one that is INITIATING trades) will continue to initiate trades.
I would suggest you download and setup the other EAs (free trials) to see how they work.
So to summarize:
- I am looking for a money management EA. it will not open trades.
- It will close out all existing trades in entire acct after user-defined EQUITY % target has been made. (option for hard $$ amount or % of equity)
- after all positions are closed out, it will take a new "snapshot" of current equity. It will wait until new equity conditions are met again and then repeat process. So it will be left unattended.
- a trailing stop to protect equity is desirably (based on equity, no modification of existing orders). The EA would keep track of this separately (silently). But this can come later. RainGull TS has something like that to where once your equity % target is reached, it will move it's internal equity stop loss to xx% from the original equity target. So if the original equity snapshot was $10,000 and the equity target was 20% ($12,000) and the equity trailing stop was 10% from highest equity since target. when your acct reaches $12,000 it wouldn't close out positions immediately. It would continue to trail the equity upwards until the equity drops 10% percent.
