HPA-OverWatch

[vc_row][vc_column][vc_custom_heading text=”EXCLUSIVE: Hedge/Price Average OverWatch Expert Advisor”][vc_column_text]This new CUTTING EDGE Technology is only available to MASTERMIND Subscribers. Watch how you can leverage this tool to keep your Trades protected without having to hover over your computer at all hours of the Day and/or Night. HPA-OverWatch is the next step in EVOLUTION for Hedging and Price Averaging.[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column width=”1/3″][/vc_column][vc_column width=”1/3″][vc_column_text]

WATCH THIS VIDEO TO HELP WITH SETTING UP HPA-OVERWATCH

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(HPA-OverWatch E.A.)

Disclaimer:

At this time, HPA-OverWatch is in active development.  Please use this E.A. in your demo accounts to familiarize yourself with its functionality. Report any and all issues in the ‘General’ chat channel on Slack.

The remaining area of concern is the behavior of the E.A. when it comes to Equity Reset.  This is one of the toughest cases to reach given the volatile nature of the market.

Pre-Usage Tasks

Before one can use the HPA-Overwatch, the user is required to gather the necessary price level, through technical analysis, for hedging and Price Average (PA) to supply as data for the inputs.

Data Inputs

  • HedgeTop and HedgeBottom: The price level at which the hedge trade will be initiated
  • Minutes before hedge starts: How many minutes should the price be above/below the hedge (also PA) line before the hedge is initiated (Default 5 mins).
  • PATop and PABottom: The price at which the the price average operation will be initiated, it must be large or smaller then the associated hedge level
  • TradeId: Specify a trade id you wish to have monitored. If left 0, the EA will find the trade to monitor (if there is more than one trade it will fail to initiate)
  • Walk Away: the number of hours you want to wait, after the hedge trade has been made, to begin the PA
  • Divide Hedge Spread by: Adjust the number by which the hedge spread is divided by.  This is a number between
    • 0.5 is more risky, requiring more time, and allows you to make some profit on the closure of the PA.
    • 3.0 is more conservative; closing the PA sooner and thus causing a loss
    • 2.0 is default
  • MAX_RISK: the percentage of the free margin you wish to put at risk in decimal format
  • AutoPA: (default false) When to start the PA action.  While false, when the PA level is reached, a set of buttons will be added to the chart to allow the user to choose when to start.  If True, the E.A. will decided, usually very poorly, when to start the PA.  At this time, it is recommended to leave this feature set to as false

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”DOWNLOAD HPA-OverWatch E.A”][vc_column_text]

Download the E.A.

CLICK TO DOWNLOAD (Current Version 1.127, 20-Mar-2019)

Upgrading

Please upgrade when you determine it is strategically sound to do so.

Before upgrading to version the current version (1.127), please close/remove any running instances of OverWatch.  This can be done by performing the following actions in each chart window that has a running instance of OverWatch:

  1. Clicking the ‘Exit OverWatch’ button on the chart window
  2. Right Click the chart, select ‘Expert Advisor,’ and then ‘Remove’
  3. Close the chart window
    1. Note: Closing MT4 will not remove the OverWatch

Once you have removed all running instances of OverWatch, please proceed to the installation instructions below.

Installation

In MT4, click ‘File->Open Data Folder’ and a Windows Explorer will open.  Place the EA in the ‘MQL4\Experts’ directory. In MT4, again, you will need to refresh the ‘Expert Advisor’ folder, in the navigator, by right clicking it and selecting refresh.

You will also need to ensure that the ‘Auto Trading’ option is enabled.  Click the box on the tool bar labeled ‘Auto Trading.’  It will change from a red circle to a green one.  Note, every time you switch accounts, you will need to ensure that this button is clicked or you will get a startup error.

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Authenticate via Login”][vc_column_text]

Authentication Set Up

The HPA-Overwatch requires the user to authenticate.  This is a multiple step process and is described in this Document. CLICK TO DOWNLOAD.

To be authenticated,  you must be current with your https://daytradesmart.com account.  Note, the E.A. will not start properly unless these steps are taken.

Starting the E.A.

Under ‘Expert Advisors’, drag ‘HPA-Overwatch’ onto the chart, click the inputs tab , and fill in the fields. Some will be populated with defaults values. If a value is not provided it will cause an error message to be displayed and will then exit.

Basic Operation

After the the inputs have been provided, the OverWatch EA draws lines on the chart representing the various levels. It will then cycle every 1 min. On each cycle, it will check if it should hedge or if the price has gone beyond the E.R.

The Hedge and PA lines my be adjusted but will conform to input rules (i.e. Hedge may not go beyond the PA and the PA may not go beyond the E.R.)

On E.R, all trades will be closed, all lines will be erased, and the EA will exit. When hedged, the E.R. lines are hidden.

The hedge will be activated if the price is above or below the hedge level for the configured minuets of time you specified in the input. When the hedge is activated, all hedge lines will be erased, a hedge trade will be initiated, any stop loss or take profits will be removed from the active trade, and the EA will wait for CoolDownHours before considering a PA.

In order for PA to activate, a hedge trade must be active and the price must be above/below one of the PA levels for the amount of time you specified in the input. Once activated, the PA will determine the profitable trade and close it. Then open the PA trade in the same direction as the remaining trade, no take profit or stop loss will be set on this trade.

The PA will close when the market price reaches the mid point between the two PA trades.

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Having Issues?”][vc_column_text]Report any issues you may experience to the MasterMind Slack General channel.

Change Log

  • 1.127
    • Trade closure was not detecting sell trades properly
  • 1.126 – 1.122
    • Improved E.R. calculation and behavior
    • Added more trade info to the chart
    • Added ‘Divide Hedge Spread by’ functionality
    • Improved recovery behavior of OverWatch should MT4 crash or shutdown
  •  1.121
    • When the OverWatch has active PA trades, added an exit method to close both trades and exits HPA-Overwatch
    • Improved the ‘close on 48’ hour calculation to consider weekends
    • Improved input checks
  • 1.120
    • Code reorganization
  •  1.119
    • Hedge and PA checks are now done every minute (as opposed to 5 mins cycles)
    • E.R. Line is more dynamic
      • Goes away when Hedged
      • Properly calculated when PA’ed to be half the distance then when hedged
  • 1.118
    • Improved recovery behavior of OverWatch should MT4 crash or shutdown

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