ok ill take ur advise.. IMO softSL is the applicable SL for todays market condition. in the ancients days of forex like 3-4 years ago the market respects the Supply and demand levels but NOW Banks control s the market to go beyond thes levels to hit all the SL's of the newbies following the Suppdem stragies before it goes back. this is one of the reason some my students and other forex traders i encounter got burned out and think s they will ever succeed in forex hehe
Makes a lot of sense to me. But HarmonicsTrader puts his SL a number of pips above/below the PRZ so has nothing to do with supp/dem: see User Guide page 3 ----quote---- SoftStopLossAddPoints Points (10 points is 1 pip) added to bottom (bullish pattern) or top (bearish pattern) of PRZ to place Soft Stop Loss. If the hourly bar closes past this Soft SL, the positions will be closed. A little red horizontal bar will be drawn at that point. ----unquote-----
There is a Support & Resistance Filter but it is turned off by default, see setting 'ModeSuppResFilter' I implemented this filter on request of a customer and it is not been back-tested for results or optimization.
I didn't save the detailed report but you can easily do a back test yourself. If you want a very detailed report then set 'Log' = 'true' Every trade will be logged and statistics will be generated at the end of every session. The main purpose is to analyse results after a Strategy Tester run. The generated log files are saved in YourMT4Platform/tester/files when the Strategy Tester is used or YourMT4Platform/MQL4/files when used on a demo or live account.
That would be 2% total Risk for the 3 trades together. From page 5 of User Guide: Risk Risk % of account equity per found Pattern (distance from opened positions to Soft SL). So the Lot Size is inversely proportional to the size of the PRZ. This is very convenient to reduce the risk in case of a pattern with a very big PRZ. Risk can be approximate or strict according to the next setting “StrictRisk”. Normally HT opens 3 positions / pattern. If with the minimum Lot size the risk is still too big then HT will reduce the number of positions to comply with the Risk setting.
Looks to me that you are using the 3rd money management setting 'Risk'. Then the Hard SL must be = Soft SL if using the 'StrictRisk' = true If the user doesn't do this then the EA will do it for him and he gets this Alert to tell him what is going on. So just follow the instructions in the Alert to avoid future alerts. More info on page 5 of the User Guide.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.