Overtrading Indicator Prototype

[frang0nve]

Hello,

Can I ask one of the coding wizards in this Forum for a overtrading indicator similar to this prototype?:




Checking the closed trades in Account History for the last 24 hours (this can be user selectable), when one or more of the limits are reached, a "STOP TRADING, YOUR xxx LIMIT HAS BEEN REACHED" message would be displayed. (I don't know if open trades can be used too)

I think the User Selectable Input should be something like this:

[font=Courier New]
Consolidate P/L=false;
PeriodInHours=24;
MaxTradesPerPeriod=4;
Target$=1000.0;
TargetInPips=100.0;
TargetPerCent=3.0;
MaxLossTrades=3;
MaxLoss$=40.0;
MaxLossPips=30.0;
MaxLossPerCent=3.0;
StopTradingStr= STOP TRADING, YOU REACHED YOUR xxxx LIMIT;[/font]


My coding capabilities in MQL4 are not enough for this task, but I think this indicator can help with one of the biggest sources of failure, at least for me...

Cheers

Francisco

[TheRumpledOne]

A pencil and paper can do the same.

KEEP IT SIMPLE.

Are you really going to stop trading because an indicator tells you to stop trading?

[frang0nve]

It's not for me TRO but for a very very close friend

Well, I can install it in my charts just for fun...

Your indicators help me to know when to open a trade and they can help me to know when to stop trading.

Pencil? Paper? they are not sexy. This is XXI century!

I think that something in the screen telling you that you are reaching the limits of your plans is not really a bad idea... and just happens to me that I never find a pencil when i need it.

Cheers

Francisco

[vladv]

Francisco,could you post the mql code for the above indicator,or send it to me by PM? Thanks.

[frang0nve]

Hi vladv,
I'm sorry but I've just had the functional idea, and I was trying to find a more expert MQL4 programmer to code it .
But TRO looks not too interested... Perhaps someone else can help us.

I'm currently programming it in Codeless LimnorStudio platform, first version with manual data entry, and then I envision a second versión with automated data entry from Oanda.

Cheers

Francisco

[TheRumpledOne]

That's probably because I do NOT use MT4 as my trading platform.

I had coded something similar for TradeStation called AutoAveryTradeManager and AutoAveryTradePlanner.

[frang0nve]

While I get working something more advanced, you can try this excel tool (Beta):









I have another version that I use in my Nokia 9300 cellular. If you have interest I can post it too.

If you find bugs, or you make improvements, please post in this thread.

Cheers

Francisco