Advisor Assistant Zero1.0
We have all heard repeatedly that there are not only advisors that work
independently, but also various assistants that can simplify the work of manual trading many times over.
Of course, automated trading experts will always be indispensable, since complete automation of the trading process completely eliminates the human factor.
However, when studying the stories of successful traders, you understand that it is human qualities that allow one to rise to heights, because emotions both have a detrimental effect on the account and, on the contrary, create precedents that are then described in various books.
However, despite all the delights of manual trading, many processes become beyond human control.
Unfortunately, you won’t be able to be attentive and focused all the time, and trivial mistakes, such as forgetting to drag a profit, correctly counting a series of orders and closing them with a plus for a certain profit can greatly affect your success.
It is in order to avoid ridiculous mistakes and simplify the work with standard functions as much as possible during the trading process, various assistant advisors are created, and one of them will be discussed in this article.
Advisor Assistant Zero1.0 is a kind of script that was implemented as an advisor for constant monitoring of open orders. The beauty of this assistant is that it controls open orders and visually depicts the break-even point on the chart as a line.
In addition to a simple and visual function, it is also capable of closing positions at a specified profit, and Zero1.0 can work with one order, or display the break-even point for a series of orders and close a series of positions upon achieving a specified total profit for all transactions.
In fact, this assistant is simply irreplaceable if you manually work with grid strategies and various averaging models such as martingale , since the simplicity of calculating the break-even point and profit allows the expert to close all orders instantly without your intervention.
Zero1.0 installation
Despite the peculiarity of using this assistant, its installation is no different from the installation of stand-alone advisors. The file downloaded at the bottom of the article should be placed in the expert folder of your terminal, which you can access through the data directory in the File menu.
After installation, in the “Navigator” panel, opposite the advisors, click update and drag it onto the chart of the currency pair for which you have opened or will open positions. A settings window will appear in front of you, which we will talk about a little below:
Speaking about the operating principle of Zero1.0, we can say with confidence that it reads transaction data directly from the chart, so it will only process those orders that are visible directly on the chart of one currency pair.
As already mentioned, the advisor shows the break-even point for a series of multidirectional orders. To understand what the advisor has taken to process orders, you will see the levels of these transactions in dotted yellow color on the chart, instead of the usual red. The advisor colors the break-even line in red, and the profit line in purple.
You probably have a logical question: how exactly will an expert close profit transactions and how does he find it? The developers made everything extremely simple and included a profit calculation depending on the number of points that the price will pass from the break-even point previously found by the advisor. I propose to look in more detail at the work of the advisor on the chart:
Closing a series of transactions at a given profit:
Zero1.0 Settings
Unlike various scripts that allow you to work with orders, this adviser has the ability to both work with all open orders, and with orders that are assigned a separate identifier.
Thus, you have the opportunity to connect this advisor to refine the processing of orders for any other expert. To do this, turn on false in the Orders ALL line, and in the ID line, specify the Magic code of the advisor, which is assigned to orders. You can also specify in the filter which orders to work with, namely purchases, sales, or purchases and sales.
To do this, in the Mode line, set 1 if you want the advisor to track orders only for sell, 2 if only for buy, and 0 if for buy and sell. In the Profit line, you can specify the profit size of a series of orders in points (calculated using the formula: break-even + number of points).
If you leave 0, the expert will not close orders at profit, but will only display the break-even point on the screen.
In conclusion, I would like to add that the expert does not open orders on its own, but serves to easily perceive the break-even point of a series of open transactions and close them at a given profit.
Simply put, it works with already open orders and is an excellent assistant for all traders practicing grid strategies and averaging .