Setup Builder
Semi-automatism means that trade entries can occur either:
based on a signal in a semi-automated environment or
discretionarily.
Although you control the most important stages, the management of the trade can be left to AgenaTrader.
To benefit from fully functional setups, which thanks to their detected specific behavior will allow you to employ the most efficient stop and targets methodology, you should attempt to find replicable systematic approaches.
You can define, activate and deactivate fully functional setups via the Setup Builder.
The Setup Builder consists of:
Analyzer session management
Activation tab: allows you to activate and deactivate entries, stop and target methods
Configuration tab: allows you to create fully functional trade setups
Parameter tab: modifies various entry, stop and target methods
Hist. Periods AnalyserEscort and Hist. Periods HedgeEscort: these define the number of historical periods for which the signal should be displayed within the Analyzer Column column or the signals tab in the Hedge Escort. The number of periods that have passed since the signal was generated will be displayed in the brackets ([]). The setup will not be suggested when you click on the row, but you can still place a discretionary entry. Even if you place a trade discretionarily, the trade management will still perform its functions.
The following image shows the StopSell order suggested by the SetupBuilder (AgenaTrader++) (the three green lines are IfDone orders):
AgenaTrader offers you several possibilities of manually managing the trade:
When the Setup Builder strategy is running, you can increase the position. The stop and targets will automatically be adjusted to the new position size.
You can also start a setup without targets and add them later. To do this, right click on the chart and select Sell/Buy Limit. This automatically activates an AgenaTrader++ setup.
The same principle can be applied to adding additional entries.
Warning! We strongly recommend not to add discretionary orders to AT++ setup and connect them OCO,ORO, IFdone connections. In another case you will get the warning on a chart "Manual changes of the strategy might cause unexpected behavior and are at you own risk". In addition, you will get such message in the log: "ATTENTION: You are about entering a manual order into a strategy. This might cause unexpected reactions and you take full responsibility for any misbehavior in case this order gets activated. You accept that the AgenaTrader-Support can't give you any advices or help on any misbehavior."
Analyzer Column column
(also available in the Discovery version)
The Analyzer Column is a column that searches for signals for hundreds of instruments simultaneously. Once signals that have occurred meet the requirements of predefined parameters within the Setup Builder, the Analyzer Column will display them in the corresponding column.
If you make changes to the Entry Escorts list within the Activation tab of the Setup Builder, the scanner must be reloaded for the LCG or watch list.
The Analyzer Column column is a part of the scanner and can be activated by adding the column in the:
Watchlist (Main -> New -> Watch) or
List chart group (Main -> New -> Chart container -> List chart group).
The image below shows how the Analyzer Column column can be defined using the Column editor for the scanner:
When defining the Analyzer Column parameters:
Input the time frame in which signals should be scanned for;
If you have several AnalyzerColumn columns within the scanner, we recommend that you change the header text so that the signals and the corresponding time frame can be recognized immediately.
Signal Direction: Allows to set short or long signal direction. None parameter means that Analyzer Column column would display both direction signals.
Required bars count: In order to make a condition to be properly recognized inside the Scanner and also in the chart (when this condition is used as an indicator), the parameter Bars required has to be set to the same value in chart and in the scanner.
The image below demonstrates how the Analyzer Column column looks within the scanner once applied to the chart:
The Analyzer Column (AC) columns may have different colors:
Color | Meaning |
Green | Indicates active long signal |
Light green | Indicates past long signal |
Red | Indicates active short signal |
Light red | Indicates past short signal |
Yellow or white | Indicates that an instrument has already been scanned based on a newly occurred candle. |
Bluish green/light blue | Indicates insufficient historical data for estimation. |
Pink | Indicates that the exchange is closed, and scanning will recommence once exchange opens again |
There is a posibilitty to change color for each signal in Signal Builder:
Historical signals are handled as follows!
In that case past signal would be displayed with color transparency 122 (out of 255).
The signals that should be scanned for within the Analyzer Column must be activated in the Setup Builder (Activation tab) and configured (Configuration tab).
Furthermore, you can also set individual parameters (see image):
Signals with numbers in [] brackets
If you see a number in brackets then the signal has occurred in the past. The brackets show how many periods ago the signal occurred.
Please find further information about this in the Setup Builder: Activation tab section.
Signal accumulation When several signals occur for the same instrument in the scanner then it is possible to view them by opening the drop-down list.
AnalyzerColumn and List chart group
If a signal for a list chart group is generated within the scanner you can submit the suggested setup to the market via:
double-clicking the signal if AT++ is not activated, which will place a suggested setup to the chart and simultaneously activate AgenaTrader++;
left clicking the signal if AT++ is activated.
The suggested setup is calculated according to the predefined parameters in the Setup Builder.
If you confirm the entry order and open a trade, AgenaTrader++ remains active and will manage the setup in the background even if you close the instrument window. If you leave the chart without submitting a trade, AgenaTrader++ will stop and suggested orders will be deleted (but only if you activated the suggested setup by double-clicking).
Analyzer sessions
The Setup Builder allows you to place various Setup Builder: Analyzer sessions.
Analyzer sessions make it possible to achieve different performances for the same entry signal (setup) depending on market phases or asset classes (currencies, stocks, CFDs etc.). For example, a falling market has narrower stops than a steadily rising market.
To attach an Analyzer session to the Analyzer Column column:
Right click in the Analyzer Column column to bring up the context menu
Select the Assign AnalyzerSession menu item
Choose between the available layers that have been determined in the Setup Builder as analyzer sessions.
This will change the heading of the Analyzer Column column. Now all signals will be calculated according to the criteria selected for the Analyzer session.
Example
Important note! The condition's criteria and the time frame of the Analyzer Column (AC) are crucial parameters for correct scanning.
Example
Let's assume that there are two conditions, c1 and c2, without a fixed time frame (i.e. with "inherited time frame").
C1 and c2 are absolutely identical.
For each condition you use a particular scanner column in the AC within the following time frames:1 day for c1 and 1 week for c2.
Assume that you create a further condition: "Both" conditions c1 (1-day-fixed) and c2 (1-week-fixed) are connected with an "OR" relation.
This condition will be displayed in the 3rd column.
The result depends on the time frame in which the 3rd column is scanned! There are two possibilities: 1. You set 1 day as the main time frame for the AC: If the "CalculateOnBarClose" parameter = True, then the previous day (yesterday) and the current week will be used. 2. You set 1 week as the main time frame for the AC: If the "CalculateOnBarClose" parameter = True, then the last closed day (yesterday) and the last closed week (past week) will be used.
The "CalculateOnBarClose" parameter is important. If the setting is "true", the time point of the last closed bar will be used as a basis for estimation of time series (for the column to be calculated). If the last bar close occured 10 minutes ago, then all time series will be calculated at this point in time. The same implies to the current day, current week etc.
Further questions asked by users: В: I have a condition with the 1-day time frame and scan this in the AC with the main time frame of 1 hour. What will happen? О: The daily bar for the current day will be used. В: Does this mean that if is it set to "bar close" then my condition will be updated every hour? О: Yes.
Analyzer sessions
Setups can be defined differently for various market positions or asset classes. This makes it possible, for example, to define the same signal differently for Forex as for shares, or to adjust short and long setups to have different appearances.
Create a new analyzer session:
Pre-condition: a standard session should already exist;
To create new analyzer session just type name in input and click on Add New Analyzer button.
All further analyzer sessions can be copied via Copy Analyzer button from the selected session and edited.
Via Remove Analyzer button User may delete the selected session.
Attach analyzer sessions to a list chart group within the Setup Builder: Analyzer Column in order to be able to use them. Only signal setups originating from the AnalyzerColumn column will be shown in the list chart group with the corresponding analyzer session settings. If you set a manual setup in the chart within the same list chart group, the standard session will be calculated according to the settings.
Activation tab
General information
The Activation tab can be accessed by selecting the Tools main menu followed by the Setup Builder menu item. It displays the available entries, stops and targets within the system.
Check the corresponding checkboxes in the various lists to activate strategies. This makes them available for traders within the Configuration tab.
You can find further information as well as a description of EntryEscorts / StopEscorts & TargetEscorts in the Setup Builder: Parameters tab.
Im Tab Aktivierung können nun mit einem Rechtsklick auf einen Entry-,Stop-,bzw. TargetEscort das Kontextmenü Kopieren aufgerufen werden. Klickt man dieses mit einem Linksklick an, bekommt man eine EingabeBox um einen Neuen Namen zu vergeben.
Dies bietet jetzt die Möglichkeit unter EntryEscorts aus der gleichen Conditions unterschiedliche Setups zu erstellen, aber auch z.B. die StopEscorts flexibler nutzen zu können. Zum Beispiel, können Sie jetzt mehrere FixTick-Stops erstellen, die sich in den Tickeinstellungen unterscheiden.
EntryEscorts
EntryEscorts can be created using one of the following methods:
1. Through available Escorts within AgenaTrader 2. Conditions: stops and targets defined within the Signal Builder (en) 3. Scripted Conditions: self-programmed stops and targets.
Stop- and Target Escorts
Entry, Stop, and Target Escorts can be created using one of these methods:
1. Through available Escorts within AgenaTrader
2. Conditions: stops and targets defined within the Signal Builder 3. Scripted Conditions: self-programmed stops and targets.
Configuration tab
General information
The Configuration tab can be accessed by selecting the Tools main menu followed by the Setup Builder menu item. Within the Configuration tab you can define fully functional trading setups with just a click.
Entry Escorts
The Entry Escorts section consists of the four following sectors:
Added automatically after activation: 1. Through available Escorts within AgenaTrader 2. Conditions: Stops and targets defined within the Signal Builder (en) 3. Scripted Conditions: Self-programmed signals.
Manually created setups: 4. Manually created setups by users. Using the New manual setup button you can create a new setup. New entry setups may not be recognized by the Analyzer Column and are primarily designed to be discretionary ("Manual Mode") setups.
Compiling setups
A setup is always based on the Entry Escort's entry signal.
By selecting the necessary options from the drop-down boxes you can create fully functional setups with:
Initial Stop Escort
HardTrail Stop Escort
SoftTrail Stop Escort
Target Escort
IMPORTANT NOTE. The calculation of the SoftTrail Stop as well as move of the HardTrail Stop takes place only during the trading hours. If the market is closed, then this function will unavailable. Stop as well as move of the HardTrail Stop takes place only during the trading hours. If the market is closed, then this function will unavailable. SoftTrail Stop as well as move of the HardTrail Stop takes place only during the trading hours. If the market is closed, then this function will unavailable. Stop as well as move of the HardTrail Stop takes place only during the trading hours. If the market is closed, then this function will unavailable.
A stop setup consists of three types of stops:
Initial Stop Escort:
Pertains to the stop strategy that is offered for the setup.
As long as no positions are opened, the initial stop can be shifted in any direction.
Each change in distance between stop and entry price will lead to the risk parameter being adjusted correspondingly (e.g. calculation of the order size).
Even if you have already started a strategy, you can shift the stop order in the direction of higher risk. After widening the distance between stop and entry price, the following popup will appear:
This protects you from undesired circumstances in case the stop order was shifted accidentally.
HardTrail Stop Escort:
The HardTrail stop is always associated with the actual StopOrder as soon as the position has been opened. Meaning: once the HardTrail stop level is crossed, the entire position will be closed.
The starting point of the HardTrail StopEscorts is always the initial stop. Meaning: If the HardTrail stop is located further from the current market price than the initial stop, then the HardTrail stop will only be activated after reaching the initial stop. IMPORTANT NOTE! Some brokers charge a fee for changing/modifying the orders. If this is the case, we recommend you use a stop that rarely changes, such as Pivot StopEscort. Please see the Setup Builder: Parameters tab section for further information.
The HardTrail Stop Escort can be modified at any time during the trade by doing one of the following:
clicking on the red "X" of the trading bar, changing the position and then confirming this with the green check mark or
or changing this within the Order Escort.
SoftTrail Stop Escort:
The SoftTrail stop is a specific type of stop that is not activated immediately after the stop marker has been crossed.
This stop remains passive and is only activated once the closing price crosses the current stop marker (for example SMA).
After this, the HardTrail stop will be placed below the low (or above the high) of the bar that has activated the SoftTrail.
The SoftTrail Stop Escort may be replaced or modified at any time during the trade.
IMPORTANT NOTE. SoftTrail stop is not able to be automatically reset. It means that in a long trade SoftTrail can only move to higher prices, even if you change the SoftTrail in Order Escort and the new SoftTrail Sopt should sit at a lower price. However there is a possibility to reset SoftTrail manually. To manage this please activate the "Stop" checkbox for the SoftTrail in OrderEscort and then manually change the price at which the SoftTrail should sit. Then deactivate the "Stop" and check if the SoftTrail is calculated again correctly.
Targets AgenaTrader offers a variety of target methods and can manage up to 3 targets in one trade.
Manually created setups
The main characteristics of manually created setups are:
Manually created setups are discretionary and therefore not recognized in the Analyzer Column column;
They are primarily setups that can be visualized but not programmed;
Manually created setups are used mainly for discretionary entries. Within the system they are named "Manual Mode".
To create a new manual setup:
Select Tools from the main menu followed by the Setup Builder menu item.
Left click on the Configuration tab
Give the manual setup a name then click the New Manual Setup button. This will add the setup name to the list of entry strategies.
Select the newly created setup and configure its stops and targets according to your preferences.
Click the Remove Manual Setup button to delete the selected setup.
It is possible to use a signal setup for discretionary entries. To do so, select the signal setup and submit an order to the market. You can do this when you wish to apply the stop/target logic of the signal setup or when you need specific criteria to place stops and targets that cannot be recognized by the system (such as a minimal break in an indicator line)
Parameters tab
General information
The Parameters tab can be accessed by clicking the Tools main menu and then selecting the Setup Builder menu item. Within the Parameters tab you can define various parameters for almost every entry stop and target strategy.
PLEASE NOTE: If you change some settings in the "Activation" or "Configuration"-Tab, those changes will not be visible immidiately in the Parameters-Tab. Please click in one of the boxes on the left side of the Parameters-Tab to refresh the Tab and receive the latest settings. in one of the boxes on the left side of the Parameters-Tab to refresh the Tab and receive the latest settings.
If you select an item from the EntryEscorts, StopEscorts or TargetEscorts sections, then the parameter box will become active:
If the checkbox Exclude instruments is checked, instruments within the text box WILL NOT BE taken into consideration for signal scanning. If the checkbox remains unchecked then the scanning will be performed ONLY for instruments within the text box. If you do not enter any instrument symbols into the text box, ALL instruments WILL BE scanned for this strategy.
EntryEscorts
The Entry Escorts functionalities give you an idea of our very own LocationPointTrading (LPT). This is still in the development stage and is anticipated to be made available in 2017 (fee-based).
The Entry Escorts section includes several parameters for creating the entry conditions:
Parameter | Description |
Automated | Here you can decide whether your setup should be executed automated, when it occurs. |
BreakEvenAfterN... | Here you can determine, after how many risks in the black your stop should be set to BreakEven. |
BreakEvenAfterNType | Here you can determine, if BreakEven should be calculated after risks, ticks ATRs or percent. |
BreakEvenTickDifference | Here you can set the ammount of ticks above (+) or below (-) in a Long respectively Short position the stop should lie after reaching your preset BreakEvenRisks. |
BreakEvenTickDifferenceType | Here you can determine, if difference should be calculated after risks, ticks ATRs or percent. |
OrderType | Here you can determine with which order type you would like to put your setup into the market. |
SendSignalMail | Here you can decide whether an email should be sent to you, when a condtion displays a signal. |
SendSignalMobileNotification | Here you can determine whether a notification is sent to your mobile phone, when a signal, based on one of your conditions, appears. |
Show in Dynamic Scanner | Here you can decide whether the setup should be displayed in Dynamic Scanner as soon as it appears. |
SignalSound | When you acticvate one of the soundfiles, you will hear the signal as soon as there is a hit in AnalyzerColumn-column (scanner). Please note that signal is only emitted when SoundAlerts are activated in scanner. |
SpecificRiskAmount | When entering a certain amount of money here, the risk settings in Account tab in ConfigurationEcort are overwritten. Please note: RiskPercent has a higher priority than RiskAmount. When a certain RiskPercent is set in Account tab in ConfigurationEscort, it gets a higher priortiy. |
SpecificRiskPercent | When entering a certain percentage here, the risk settings in Account Tab in ConfigurationEscort are overwritten. Please note: RiskPercent has a higher priority than RiskAmount. |
ExecutionSound | When you activate one of the soundfiles, you will hear the signal as soon as entry is executed. |
OrderMode | Here you can determine whether the order should be direct or synthetic. |
SendExecutionMail | When set to True, an email will be sent to you, when order is executed. In order to make this work, you need to enter an email adress in Geneal tab in ConfigurationEscort. |
StopEscort
The Stop Escorts section includes several parameters for creating the entry conditions.
Please find below the parameters of BarByBar as an example:
Parameter | Description |
StopDeviation Ticks | With this settings you can determine, how many ticks above respectively below the exact position of the order should be placed. |
WaitBarsBeforeFirstTrail | Here you can determine how many bars AgenaTrader should wait at the beginning of a trade, until HardStop takes over automated stopp trailing. |
ExecutionSound | Here you can choose sound which you want to hear when stop is executed. |
OrderMode | Here you can choose whether the order should ba direct or synthetic. |
SendExecutionMail | Here you can determine whether you want to get an email notification when stop is executed. |
BarsBackHardTrail | Here you can determine, how many bars back HardTrail should be trailed. |
BarsBackInitialStop | Here you can determine, how many bars back InitialStop should be trailed. |
BarsBackSoftTrail | Here you can determine, how many bars back SoftTrail should be trailed. |
TargetEscorts
The Stop Escorts section includes several parameters for creating the target conditions.
Please find below the parameters of MultipleRisk3Level as an example:
Parameter | Description |
ExectionSound | Here you can choose sound which you want to hear when target is filled. |
OrderMode | Here you can choose whether the order should ba direct or synthetic. |
SendExecutionMail | Here you can determine whether you want to get an email notification when stop is executed. |
ProfitPercentageTarget1 | Here you determine the percentage of position, that should be closed when reaching first target. |
ProfitPercentageTarget2 | Here you determine the percentage of position, that should be closed when reaching second target. |
ProfitPercentageTarget3 | Here you determine the percentage of position, that should be closed when reaching third target. |
RisksToLevel1 | Here you determine how many risks should be taken up to first level. |
RisksToLevel2 | Here you determine how many risks should be taken up to second level. |
RisksToLevel3 | Here you determine how many risks should be taken up to third level. |
Closing the remainder of an opened position with a trailing stop
The necessary settings are:
In the Parameters tab of the SetupBuilder, define the percent by which the opened position is to be decreased after execution of the 1st and the 2nd targets;
The remaining percentage (25%) of the position will be managed automatically by a trailing stop.
Alternatively, you can adjust the order size in the chart or using the Order Escort.
Stop Escorts
Description of StopEscorts
The StopEscorts section contains stop setups. If you left click on one of the items, the parameter box will become active.
Initial StopEscort section:
InitialStopOnly
Allows you to submit an initial stop to the market. Select this if you do not want to use HardTrail StopEscort or SoftTrail StopEscort.
ATR
Calculates the average true range for a stop.
BarByBar
Places a stop behind the lows or highs of the previous x bars.
BollingerBands
Uses the upper or lower line of the Bollinger band as a stop.
EightTrail
Uses the SMA8 line as a stop.
FixTick
Ensures that a fixed number of ticks behind the closing price of the most recently closed candle are attached to the stop. You can see the minimum tick size for each instrument in the Instrument Editor. Example. 1. Let's assume that the tick size for AUDCAD is 0.00001. 2. here we calculate the pipettes (1 pip = 10 pipettes) 3. BUT the tick size for USDJPY is 0.001
4. We will assume that in the SetupBuilder we set the Fix Tick = 5 5. This implies that if the AUDCAD entry price is 0.99000, the stop price will amount to 0.99005 6. If the USDJPY entry price is 120.50, the stop price will amount to 120.505.
GannHighLow:
Places a stop above the highest high or the lowest low of the previous X candlestick. If the subsequent candlesticks do not create a lower low or a higher high than the previous, the stop will remain on the current position. Only after a new low or high occurs will the stop be placed behind the highest high or lowest low of the last x candle.
InitialRisk
Places a stop according to the distance between an entry and a stop (initial risk). The stop will be adjusted every time the candle is closed according to the initial risk amount.
OutsideBar
Places a stop behind the outside bars. The stop will only move when the outside bar is crossed by the closing price.
ParabolicSAR
Uses the parabolic SAR as a stop.
PivotFast
Places a stop after small lows or highs based on the 123-counting mechanism. We recommend that you keep the PivotFast parameter inputs small. The picture illustrates that the PivotFast parameter is set to 5:
PivotMedium
Places a stop after medium lows or highs based on the 123-counting mechanism. We recommend that you keep the PivotFast parameter inputs medium. The picture illustrates that the PivotFast parameter is set to 13:
PivotSlow
Places a stop after large lows or highs based on the 123-counting mechanism. We recommend that you keep the PivotFast parameter inputs large. The picture illustrates that the PivotFast parameter is set to 30:
TwentyTrail
Uses the SMA20 line as a stop.
SuperTrend
Uses the super trend indicator as a stop
DonnchianChannel
The upper line is used as stop for short positions and the lower line as stop for long positions.
KeltnerChannel
The upper line is used as stop for short positions and the lower line as stop for long positions.
StopEscorts parameters
For ATR, FixTick and InitialRisk-Stops the option "CalculateOnPriceChange" is available. If this option is set to 'True', the Stop is recalculated with each Tick coming in. That means that the stop is following the movement of each tick. When you set this option to 'False', the StopEscort will wait for the candle to close to recalculate itself and there won't be any intra-candle movement of the stop.
BarByBar includes the following settings:
BarsBackHardTrail
BarsBackInitialStop
BarsBackSoftTrail
This shows how many of the previous bars are used for the stop calculation. Meaning of numbers: "1" - stop is placed behind the last closed period; "2" - stop is placed behind the bar located further than the last two closed candlesticks.
EightTrail and TwentyTrail
BarByBarStart setting: if set to "false", then the SMA (simple moving average) trailing stop will not immediately be submitted from the start.
Example. 1. Assume that your stop entry is below (long) or above (short) the SMA trailing stop. 2. The SMA can only be used as a stop when the price has moved above it (in a long position) or below it (in a short position). 3. Using this setting, you can apply a BarByBar stop up to this point (the settings for the standard BarByBar stop will be applied) or a simulated SMA.
The image below demonstrates an example for a long position:
GannHighLow
HighLowsBack setting: shows the number of highs or lows back in the history that are taken into account for the stop calculation.
InitialRisk
Risk Factor setting: sets a multiplicator for the initial risk
OutsideBar includes the following settings:
BarsBackHardTrail
BarsBackInitialStop
BarsBackSoftTrail
This shows how many of the previous bars are used for the stop calculation. Meaning of numbers: "0" - last closed period; "1" - stop is placed behind the last closed period; "2" - stop is placed behind the bar that is located the furthest from the last two closed periods and so on.
PivotFast
Default setting: the PivotFast parameter = 5.
PivotMedium
Default setting: the PivotMedium parameter = 13.
PivotSlow
Default setting: the PivotSlow parameter = 30.
Target Escorts
Description of TargetEscorts
This section includes a detailed description of the TargetEscorts.
FixTick1Level: places one target with a fixed tick distance
ProfitPercentageTarget1: a percentage of the entry order being filled when the first target was reached.
FixTick2Level: places two targets with a fixed tick distance
ProfitPercentageTarget1 and 2 : a percentage of the entry order being filled when the first and second target was reached.
FixTick3Level: places three targets with a fixed tick distance
ProfitPercentageTarget1, 2 and 3: a percentage of the entry order being filled when the first, second and third target was reached.
Important Note!
If Multi-Target Setups are used, AgenaTrader must remain connected to the broker to ensure that the setup runs appropriately, as the ORO order links can not be managed via the brokers API. If the connection to the broker is not running, an unwanted counterposition could be opened. This pertains to all broker APIs.
Example FixTick3Level
The following target setups are available:
MultipleRisk1Level: places a target on the price level that corresponds to the distance between the stop and entry (R or 1R) as adjusted by a multiplier.
MultipleRisk2Levels: sets TWO targets on the price level that corresponds to the distance between the stop and entry (R or 1R) as adjusted by the R multiplier (different for each target). Additionally, you can set the value allocation between both targets.
MultipleRisk3Levels: sets THREE targets on the price level that corresponds to the distance between the stop and entry (R or 1R) as adjusted by the R multiplier (different for each target).
NoTarget: does not place a target. This method can be used if you prefer to submit only trailing stops.
Pivot1Level: uses the next pivot level as a target.
Pivot2Levels: uses the next two pivot levels as targets.
Pivot3Levels: uses the next three pivot levels as targets.
NOTE! The search for pivot levels is limited to the number of candles loaded within the chart.
TargetEscorts parameters
MultipleRisk1Level
Parameter RisksToLevel1 defines the R multiplier for calculation of the target price level.
MultipleRisk2Levels
Parameter ProfitPercentageTarget1 sets the percent by which the opened position will be decreased after execution of the 1st target.
Parameter ProfitPercentageTarget2 sets the percent by which the opened position will be decreased after execution of the 2nd target.
Parameter RisksToLevel1 defines the R multiplier for calculation of the 1st target price level.
Parameter RisksToLevel2 defines the R multiplier for calculation of the 2nd target price level.
MultipleRisk3Levels
Parameter ProfitPercentageTarget1 sets the percent by which the running position will be decreased after execution of the 1st target.
Parameter ProfitPercentageTarget2 sets the percent by which the running position will be decreased after execution of the 2nd target.
Parameter ProfitPercentageTarget3 sets the percent by which the running position will be decreased after execution of the 3rd target.
Parameter RisksToLevel1 defines the R multiplier for calculation of the 1st target price level.
Parameter RisksToLevel2 defines the R multiplier for calculation of the 2nd target price level.
Parameter RisksToLevel2 defines the R multiplier for calculation of the 3rd target price level.
Pivot1Level
Parameter MinRisksToFirstTarget defines the minimal R multiplier for calculation of the 1st target price level. If the calculated 1st target level does not reach a pivot level then the next closest pivot level will be used for the target.
ProfitPercentageTarget1: leaves the remaining amount opened if less than 100% for this parameter has been selected.
Pivot2Levels
Parameter MinRisksBetweenTargets defines the R multiplier between the 1st and 2nd targets. If no further pivot level is available then the R multiplier will be used for calculation of the 2nd target.
Parameter MinRisksToFirstTarget defines the minimal R multiplier for calculation of the 1st target price level. If the calculated 1st target level does not reach a pivot level then the next closest pivot level will be used for the target.
Parameter ProfitPercentageTarget1 sets the percent by which the opened position will be decreased after execution of the 1st target.
Parameter ProfitPercentageTarget2 sets the percent by which the opened position will be decreased after execution of the 2nd target.
Pivot3Levels
Parameter MinRisksBetweenTargets defines the R multiplier between the 1st and 2nd targets. If no further pivot level is available then the R multiplier will be used for calculation of the 2nd target.
Parameter MinRisksToFirstTarget defines the minimal R multiplier for calculation of the 1st target price level. If the calculated 1st target level does not reach a pivot level then the next closest pivot level will be used for the target.
Parameter ProfitPercentageTarget1 sets the percent by which the opened position will be decreased after execution of the 1st target.
Parameter ProfitPercentageTarget2 sets the percent by which the opened position will be decreased after execution of the 2nd target.
ПParameter ProfitPercentageTarget3 sets the percent by which the opened position will be decreased after execution of the 3rd target.
Example for Pivot2Levels
If there is not enough historical data to find appropriate pivot levels, or should the pivot levels be placed in "all time high" areas, AgenaTrader will use the distance "MinRisksBetweenTargets" for the next target. The following image demonstrates this example:
Trade tab
The Trade tab consists of:
Trade box
Strategy box
Trade box
The Trade box displays relevant information on the actual trade parameters such as: entry price, stops, order and position size, and the current risk.
Manual mode
When the manual mode is activated, this will allow you to place discretionary trades and input corrections to the automatic setups of AgenaTrader++ (plusplus).
This can basically be done in 3 steps:
Check the Manual Mode checkbox by left click (the background color of the Order Escort will still be grey at this point)
Select the Buy or Sell option
Select parameters for the entry, initial stop, hard trail stop, soft trail stop and target.
The advantage of manual mode is that you can set your own setup and submit trades, but AgenaTrader++ will continue to fully monitor your risk and automatically manage your trades.
If you do not want to rely on the automatic entries, you can trade exclusively in manual mode. The only difference from the fully automated mode is that entries based on signals will not be suggested.
You can also bring up the Setup Builder window and define the manual mode setup within the Configuration tab.
Entry price
The Entry price field contains the suggested entry price. As long as the order has not been submitted to the market, the entry price can be changed.
You can edit the price level in one of the following ways:
Move the chart trader bar for the entry order directly on the chart
Enter a new price manually inside the Entry price field
Increase or decrease the price level tick by tick to the next high or low using the up and down arrow keys.
Use the drop-down list to select a price from among the 30 possible price levels in both directions.
Order type
There are two possible order types: buy or sell order. You will only be able to select one of these order types if the manual mode is activated. This function is not available for automatically generated, signal-based trade suggestions.
$ button
Left clicking on the "$" button will reset a setup regardless of the setup type (manual or signal-based). All parameters will be reverted to their default settings.
Order size
The Order size field displays the proposed order size that has been calculated using risk parameters.
The order size is based on the following parameters:
the difference between entry price and hard stop
the absolute risk
the initial risk
the currency conversion factor (if account currency is different from the currency of the traded instrument)
The suggested order size is always rounded to the next possible whole number. The rounding settings can be changed within the Global Configuration.
Setting the order size above the suggested level (can only be done from within the Order Escort) If you wish to set the order size above the proposed level, manually enter the desired order size or change the amount using the up and down arrow keys. Once entered, the background color will change to red and will no longer be adjusted if the stop or entry orders are edited.
If you want AgenaTrader++ (plusplus) to calculate the order size automatically according to the risk-specific criteria, double click in this field and move the entry / stop line inside the chart.
Position size
The position size displays the size of the running positions and corresponds to the order size.
For automatically suggested trades in which the order size is set above the proposed size, the position size will be calculated as: Position size = initially proposed position size + order amount set above the proposed size.
HardStop / HardRisk
HardStop
The H-Trail field displays the price level at which the trade will be 100% secured, i.e. the price of the Initial stop and HardTrail stop.
You can edit the price level in one of the following ways:
Move the chart trader bar for the initial stop order (hard trail stop order) directly on the chart
Enter a new price manually inside the H-Trail field
Increase or decrease the price level tick by tick to the next high or low using the up and down arrow keys
Use the drop-down list to select a price among the 30 possible price levels in both directions.
HardRisk
The H-Risk field displays the absolute value that is at risk during the trading (in P&L currency).
Meaning of the background color on the "H-Risk" field:
red: a negative risk exists for the current trade;
green: the trade is at the positive risk level.
Positive risk level means that the hard stop is above the entry price for long positions and below the entry price for short positions.
The hard risk already accounts for potential slippage and spread costs (see calculation of spread + slippage = 2x spread). This may impact the risk negatively or positively depending on the order execution time. If the background color changes to red, then the setup is breaking the risk parameters. This can happen due to lot size rounding. If rounding is not the primary cause for this, we recommend that you inspect the trade suggestion in more detail.
Soft Stop / Soft Risk
SoftStop
The Soft Stop is the actual stop price of the Soft Trail stop.
Soft Risk The Soft Risk is calculated the same way as the Hard Risk, but it is based on the Soft Stop. The Soft Risk is merely a reference value, since in the case that the soft stop is broken, the actual risk only materializes due to the Hard Stop order being executed.
The Soft Stop/Soft Risk and Hard Stop/Hard Risk are equal until the position is opened.
Once an order is submitted the Soft Stop/Soft Risk values will deviate from the Hard Stop/Hard Risk values.
Strategy box
The strategy box suggests a setup based on selected or calculated entry signals.
You can change the strategy parameters:
Before placing the trade on the market: to edit stop and target methods inside the Order Escort;
When the trade is running: to adjust the soft trail stop and the hard trail stop as well as targets (until the first target has been met).
Entry
Once in manual trade mode (semi-automated discretionary trading) the EntryEscort will allow you to select the strategy setup.
Manual mode will display the pre-initialized Entry Escort with the appropriate Stop and Target Escorts, which you can use to keep AgenaTrader's stop / target logic. If the Entry Escort has been suggested a trade in accordance with the Stop and Target Escort signals, then entries in this field cannot be changed.
Initial stop
The initial stop is calculated using the initial stop method. The image below shows the initial stop based on an ATR (average true range) stop. If the Hard Trail stop is responsible for the stop order in the running trade, AgenaTrader will simultaneously display the Hard Trail stop and the initial stop order (PivotSlow).
The calculated order size is based on:
the initial stop
the defined risk
Thus, the initial stop should be placed within close distance to the Hard Trail stop.
If you wish to change the initial stop calculations, please read more about this in the Risk and Money management section.
Hard Trail stop
Hard stops and Hard Trail stops are the stop methods that are applied to the stop orders. Basically, a Hard Stop is intended to be used for catastrophic scenarios. The Soft Stop should retain the corresponding setup logic.
Hard Stop and Soft Stop are connected to each other by the following logic.
If the closing price has crossed a Soft Stop, then Hard Stop will react and move:
below the low of the candle that caused the crossing of the Soft Stop (in a long position) or
above the high of the candle that caused the crossing of the Soft Stop (in a short position).
If the crossing of the Soft Stop was faked, then the stop will not be triggered, but if the break is confirmed and the price move is sustainable, then the Hard stop will be triggered and the trade closed.
You can replace the Hard Trail Stop during the trade in one of these two ways:
via the Order Escort
by pressing the red "X" box within the chart trader bar, moving it and then confirming the new hard trail stop by left clicking on the checkmark symbol.
It is also possible to overrule the Hard Trail Stop for the current period. AT++ will continue to perform the calculations for the stop price level and set it at the end of the period.
Soft Trail
This is a stop that does not close a trade immediately after the stop is crossed by a closing price.
Once the Soft Stop is crossed by the closing price, the Hard Stop will be triggered and moved:
below the low of the candle that caused the crossing of the Soft Stop (in a long position) or
above the high of the candle that caused the crossing of the Soft Stop (in a short position).
You can replace the Soft Stop during the trade in one of these two ways:
via the Order Escort
by pressing the red "X" box within the chart trader bar, moving it and then confirming the new hard trail stop by left clicking on the checkmark symbol.
Furthermore, Soft Trail stops stops must be triggered faster than Hard Trail stops, therefore they cannot be placed at the same level.
Targets
You can select various target strategies within the Target field.
Freeze
If you check the Freeze checkbox, then suggested orders will no longer be placed on the chart when a signal occurs.
Initial risk (% field)
To access the initial risk account settings, select the Tools main menu followed by the Global Configuration menu item. In this window, select the General and Account tabs. The Risk/Trade option allows you to set the percentage of the account that you wish to risk during the trade.
The order size calculation is based on:
the gap between the entry and stop order,
the valuation of the instrument,
the instrument/account currency pairs,
and the buying power.
If you place an order with the deviating risk and money management settings in the Global Configuration, it will be "overruled" (order size is set above the proposed level).
Halt
If you check the Halt checkbox, the Hard Trail stop / Soft Trail stop will no longer be triggered at the appropriate level.
This is also true for situations in which the Soft Trail stop is crossed by the closing price.
Important! If you activate checkbox halt for Hard Trail stop settings for BreakEvenAfterN... will be disabled. Please find additional information about BreakEvenAfterN... on page Setup Builder: Parameters tab
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