PipBoxer Help Centre

Investatech Trades Manager (ITM) is a MetaTrader 4 Expert Advisor (EA) that manages several trades at the same time. The following image shows a scenario to shed light on how ITM works.

(Click image to enlarge.)

ITM calculates the ratio of the float (open profit or loss) to the account balance. If the ratio is more than a certain value it closes open trades. It works both in positive and negative directions.

There are two values that trigger ITM: “profit_cap” and “loss_cap”

“profit_cap” is your profit target according to your open trades stated in percentage. For example if profit_cap is 8 it means that your profit target is 8% or rather the A/B ratio (image above) must reach or pass 8% or 0.08 in order to close open trades. For example if your current balance is $5000.00 ITM will close open trades, only if the open profit becomes equal or greater than $400.00.

“loss_cap” is the maximum risk that you can accept on your open trades. It is similar to Value_At_Risk but considers multiple trades rather than one single trade. For example if your account balance is $5000 and loss cap it 5% then ITM will close open trades, only if the open loss (drawdown in equity) becomes more than $250.00 (in negative direction).

The following image shows the inputs for ITM.

(Click image to enlarge.)

profit_cap: The minimum ratio of the open profit on multiple trades to the account balance in order to close the trades. This ratio is stated in percentage. For example 8 means, 8%.

loss_cap: The minimum ratio of the open loss on multiple trades to the account balance in order to close the trades. This ratio is stated in percentage. For example 5 means, 5%.

cap_dollar_flex: It considers a dollar value to enhance the behaviour of ITM. For example if your account balance is $5000.00 and your "profit_cap" is 5 then ITM closes trades if the open profit is equal or more than $250.00 (or rather 5% of the account balance). Now if the value of "cap_dollar_flex" is 10, then ITM closes the trades when the open profit is $240.00 or more (i.e. 250-10). In other words "cap_dollar_flex" narrows the range to capture the moment. "cap_dollar_flex" works the same way if you are facing a negative float (or rather open loss). 

 
manage_gridboxer: Whether to consider GridBoxer trades into calculations.
 
manage_pipboxer: Whether to consider PipBoxer trades into calculations.
 
manage_all_trades: Whether to consider all of the trades into calculations.

email_alert: It generates an email message when ITM is ready to close all open trades. It could help you to monitor the behaviour and make sur ITM is successful. You need to setup MetaTrader 4 in order to be able to receive the email message. Click here for more information. 

As you can see there are three Boolean variables (true/false variables) that control which trades to consider. Let’s review four different scenarios to have a better understanding of these variables.

Scenario #1: manage_all_trades=true

ITM considers the open profit/loss caused by all of the trades (whether opened manually, by PipBoxer, by GridBoxer, or by other EAs). When the total profit or loss reaches the trigger value, ITM closes all of the trades no matter how they have been opened. When “manage_all_trades” is “true”, ITM ignores the other two Boolean variables.

Scenario #2: manage_all_trades=false; manage_gridboxer=true; manage_pipboxer=false

ITM ignores trades opened manually, by PipBoxer, or by other EAs. It only considers the open profit/loss caused by GridBoxer. It also closes trades opened by GridBoxer only.

Scenario #3: manage_all_trades=false; manage_gridboxer=false; manage_pipboxer=true

ITM ignores trades opened manually, by GridBoxer, or by other EAs. It only considers the open profit/loss caused by PipBoxer. It also closes trades opened by PipBoxer only.

Scenario #4: manage_all_trades=false; manage_gridboxer=true; manage_pipboxer=true

ITM ignores trades opened manually, or by other EAs. It considers the open profit/loss caused by GridBoxer and PipBoxer (it adds them up together). It also closes trades opened by GridBoxer and PipBoxer at the same time. For example if “profit_cap” is 10 (which means 10%) and the account balance is $12000.00, it closes PipBoxer and GridBoxer trades only if the total open profit generated by PipBoxer and GridBoxer trades reaches or becomes greater than $1200.00 (or rather 12000x0.1).