Daveatt

Trade Manager (Open Source Version)

Hello my young padawans looking for the FORCE to get richer on your next trade

I got pinged at least three times today asking where the hell is the indicator of the day. You asked, I delivered :)
Here's your free open-source Trade Manager Version. My associates might kill me for sharing that one... anyway this is a real GIFT.
I won't share such quality indicators too often for FREE so hope you'll appreciate its value. It can really help with your day to day trading (on top of making your charts looking more awesome)

This is an even better version compared to my previous Trade Manager Trade-Manager. It's basically a standalone version, meaning you'll have to update with 2 lines your own indicator and follow my educational post from yesterday (pasted it below also) to learn how to do it

Please read this educational post I published for you before proceeding further : How-to-connect-your-indicator-with-the-Trade-Manager

From here you normally connected the data source of your own indicator to the Trade Manager. If not, here's a reminder of the article mentionned above

Step 1 - Update your indicator

For the screenshot you see above, I used this indicator : Two-MM-Cross-MACD/. "But sir are you really advertising your other indicators here ??" ... hmmm.... YES but I gave them for free so ... stop complaining my friend :)

Somewhere in the code you'll have a LONG and a SHORT condition. If not, please go back to study trading for noobs (I'm kidding !!!)
So it should look to something similar

nUP = ma_crossover and macd_crossover
nDN = ma_crossunder and macd_crossunder


What you will need to add at the very end of your script is a Signal plot that will be captured by the Trade Manager. This will give us :

// Signal plot to be used as external
// if crossover, sends 1, otherwise sends -1
Signal = (nUP) ? 1 : (nDN) ? -1 : na
plot(Signal, title="Signal")


The Trade Manager engines expects to receive 1 for a bullishg signal and -1 for bearish .

Step 2 - Add the Trade Manager to your chart and select the right Data Source

I feel the questions coming so I prefer to anticipate :) When you add the Trade Manager to your chart, nothing will be displayed. THIS IS NORMAL because you'll have to select the Data Source to be "Signal"
Remember our Signal variable from the Two MM Cross from before, now we'll capture it and.....drumb rolll...... that's from that moment that your life became even more AWESOME

The Engine will capture the last signal from the MM cross or any indicator actually and will update the Stop Loss, Take Profit levels based on the parameters you set on the Trade Manager
It should work with any indicator as long as you're providing a plot Signal with values 1 and -1. In any case, you can change the Trade Manager you'll find a better logic for your trading

Now let's cover the different parameters of the tool

It should be straightforward but better to explain everything here

+Label lines : if unchecked, no SL/TPs/... will be displayed
+Show Stop Loss Signal : Will display the stop loss label. You have the choice between three options :
By default, the Stop Loss is set to NONE. You'll have to select a different option to enable the Stop Loss for real
++Percentage : Will set the SL at a percent distance from the price
++Fixed : SL fixed at a static price
++Trailing % : Trailing stop loss based on percentage level

The following is a KEY feature and I got asked for it many times those past two days. I got annoyed of getting the same request so I just did it
++Trailing TP: Will move the Stop Loss if the take profit levels are hit
Example: if TP1 is hit, SL will be moved to breakeven. If TP2 is hit, SL will be moved from TP1 to TP2


+Take Profit 1,2,3 : Visually define the three Take Profit levels. Those are percentage levels.
Meaning if you set TP1 = 2, it will set the TP1 level 2% away from the entry signal
Please note that once a Take profit level is reached, it will magically disappear. This is to be expected

I'll share in the future a way more complete version with invalidation, stop loss/take profits based on indicator, take profit based on supports/resistances, ...

I believe is such a great tool because can be connected to any indicator. I confess that I tried it only with a few... if you find any that's not working with the Trade manager, please let me know and I'll have a look

PS
I want to give a HUUUUUUUGE shoutout to the PineCoders community who helped me finishing it

Wishing you all the best and a pleasant experience with my work
David
Release Notes: @Everyone: Please look at this tutorial for connecting your first indicator to the Trade Manager
How-to-Connect-a-Two-MM-Cross-Signal-version-to-the-Trade-Manager/
Release Notes: - Fixed a small bug
Release Notes: - Fixed a small inconsistency in the code. Wasn't affecting anything but better to publish a clean version
Release Notes: - Removing because I want to update it and some followers suggested interesting features and reported a few bugs
- Will repost soon
Remove from Favorite Scripts Add to Favorite Scripts
You can use this one in the meantime :
New Trade Manager coming out shortly
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when will be update?:)
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Daveatt RafaelZioni
@RafaelZioni, Check my status sir :) in a few weeks
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Hi everyone, removing the code as I noticed a few bugs and it needs to be fixed. I don't want new traders to use that with those bugs so I'll work on that quickly and will repost
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100 likes !!!!!!
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Hi.
Just an update on the Trader Manager.
Using for live bot. But is a bit tricky.. Must use the same ( Once per bar or Once per bar close) Together with Buy syntax. Very important since Trader manager will trigger upon getting the buy price, and when the TP will line up, it will trigger through all
TP. So Remember to have a good delay on Buy syntax so Trader manager trigger first and Buy trigger like 6-10 sec after, than it should work fine.
I use Trailing TP and works just fine. I also made 2 more TP so i have total of 5, each 1%. Important not to have the Trailing TP to tight. I use 0.25 and Once per bar close.
Trailing stoploss does not seem to work as should. It follows the price up and down, and does not stay when price falls back. Daveatt maybe you could fix it when you have time.

Keep up the god work. It is sure a nice add on..I love it :-)

Cheers Kirk
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Been tested Your nice Trader manager. How ever, in short it does not trigger alarm when using TP trailing and it has moved SL to next TP level. when to course goes below, it does not trigger SL alarm. Works finde when long..
Keep up the good work. There will always be bugs to sort out.
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@Kirk65, Well spotted :)
Will fix that this week and update this indicator. Thanks so much, please PM me for your reward as I give a little something to people helping me improving my work
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Franchement cool !
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Daveatt K10Spad
@K10Spad, <3
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