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: