The basic idea behind the Multi Pair Closer auto trader is to keep tracking all the open positions for the number of currency pairs which are set in input parameter WatchedPairs which is also known as Currency Basket. For example, if the WatchedPair input parameter set with three currency pairs i.e. EUR/USD, AUD/JPY, GBP/USD then the auto trader will only monitor the trades opened in these three currencies pairs and will not consider any other open positions from other pairs. When the total profit of all these considered open positions from Currency Basket pairs reaches the profit amount set in the ProfitTarget parameter, the auto trader will close all the open positions for Currency Basket pairs. Similarly, when the total loss of all open positions from Currency Basket pairs reaches the max loss amount set in the MaxLoss parameter, the auto trader will close all the open positions for Currency Basket pairs.
The Auto Trader also has a provision to set the minimum age for an order to be closed by the auto trader through an input parameter MinAge, for example, if the MinAge parameter is set to 60 Sec the Multi Pair Closer will ensure that each order will not be closed for next 60 seconds from the order execution time. After 60 seconds the Multi Pair Closer will keep monitoring the orders and close them either by booking preset profit or loss.
Once the ea is attached on any open chart in the trading terminal, it starts monitoring all the open trades for all the currency pair set in WhatchedPairs parameter and wait till the time specified in MinAge parameters and then execute the order closing mechanism when the predefined Profit or Loss parameters value achieved.
Please make a note that this auto trader does not follow any trend or open any order on its own but to give a well-planned trade exit mechanism for all the pre-opened positions.
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