IOG Visual Scale-Outs for MC

Package: IOG Visual Scale-Out Exits for MultiCharts

Scaling out of a position is a powerful technique - one endorsed and used by many (dare I say most?) successful professional traders. This package offers 3 strategies for flexible, convenient scale-out trade management, coupling Scale-Out Profit Target Exits with an "Active Trailing Stop" (ATS), and a worst-case StopLoss, with all exits evaluated and acted on tick-by-tick using Intrabar Order Generation (IOG).

This is our latest, most advanced exit package for MultiCharts, intended for complete exit management evaluated down to as low as the tick level on any chart, any timeframe.

What It Is

Three strategies and three cooperating indicators, implementing up to 6 legs of scaling out on the profit side, along with a stop loss exit, and the advanced, user-definable "Active Trailing Stop" (ATS), with full visualization of your chosen levels, historically and in realtime.

The three signal/indicator sets are:

#P_SOP_Ticks_03V.IOG	(signal and indicator defined in ticks)
#P_SOP_Pts_03V.IOG	(signal and indicator defined in chart points)
#P_SOP_Pct_03V.IOG	(signal and indicator defined in percent of EntryPrice)

These IOG strategies work with stocks, futures and forex, on daily, intraday, and tick charts*, with MultiCharts 6.1 (Build 3605) or later.

What It Looks Like

Here's a picture of the the profit Scale-Outs and Active Trailing Stop in action, applied to the ES futures contract:

Notice the long profit exit ("lp"), the advancing ATS levels, and the final ATS exit ("LX-ATS").

Please visit the screenshot page to see many more pictures of the Visual IOG Scale-Out Exits in action.

How It Works

Every aspect of these strategies has been designed to allow for the simplest, most flexible optimization possible.

Each signal is coded to perform take-offs in up to 6 increments. Each increment is expressed as an amount beyond the previous increment. This means that the distance to every level can be conveniently optimized without any "crossed" or nonsensical combinations being produced. Thus, you will be able to investigate desirable Scale-Out settings on the profit side for your chosen market(s) and entry styles, using all the power of MultiCharts' built-in optimizer.

All the individual profit targets are referenced to a movable profit target base. Moving the profit target base conveniently moves the whole set of targets - simplifying backtesting and optimization.

A multiplier is provided for entire set of levels (Profit targets, StopLoss, and ATS), making it simple to widen or tighten all the exits at once, while keeping the same relationships in place.

Because these are Intrabar Order Generation (IOG) strategies, they can evaluate on every tick, regardless of the timeframe of the chart to which they are applied. Exit orders (be they for profit or loss) are submitted as soon as 1 tick after your tick of entry. There is no faster automated way to manage your trades.

With separate strategies provided for specification in ticks, points, or percentages, this package covers your IOG exit needs in a logical way from the shortest timeframe to the longest.

What You Get

Included are three signal/indicator sets:

#P_SOP_Ticks_03V.IOG	(signal and indicator defined in ticks)
#P_SOP_Pts_03V.IOG	(signal and indicator defined in chart points)
#P_SOP_Pct_03V.IOG	(signal and indicator defined in percent of EntryPrice)

In each case, the signal and the visualizing indicator share the same name, so you can tell which ones go together.

The package comes with detailed documentation in Word format, and with multiple demo workspaces, providing ready-to-go application of the strategies to stocks, futures and Forex.

Compatibility

This package is compatible ONLY with versions of MultiCharts distributed via direct download from the TSSupport web site. Unfortunately, for technical reasons, this package IS NOT COMPATIBLE with separate versions of MultiCharts distributed by other means (e.g. other national or regional resellers, etc.).

What It Costs

Sophisticated exit management is one of the key techniques used by most most market winners. Shouldn't that group include you?

$500 gets you a license for the complete package, saving you the tremendous amount of study, coding and testing that would be required to create these strategies and indicators yourself.

The package is delivered in protected format, locked to your MultiCharts User ID.

Hedge funds and private trading pools may wish to purchase this package in source-code form for business reasons. This package may be purchased in source-code form with a defined-use commercial license for $3000. (Execution of an NDA is required.) Interested parties, inquire here: questions@CodeForTraders.com

How You Get It

This package will be emailed to you after your PayPal payment is processed. Please be aware of the caveats before you order. Please provide your MultiCharts ID with your order, and allow 48 hours for delivery.

* - the code in this package may be operated with exotic bar types (e.g. point bars, Renko bars, etc.) but the behavior with exotic bar types is untested and unsupported and not recommended.