This is a helpful tool for jForex platofrm I developed. It is for placing pending orders with pre-calculated RR in advance. Designed for such as supply & demand traders etc that setup their trades in advance. After pending order is placed, strategy automatically stop. It is not a trading EA but a money management tool to automatically setup TP based on RR instead of specific level:



You basically setup entry, SL, amount and instrument same way as you would open position normally. But TP is automatically calculated and setup based on RR, or "profit multiplier". So if for example distance between entry and SL is 20 pips, and PM is 3 which imply RR 1:3, TP is automatically setup at 60 pips from entry.

Furthermore, tool contain another entry called "maxpipsonautosize"/MPOAS. If this is at 0 then it takes no effect. But if it is at any number, say 40, it mean position size is further adjusted from default trade amount to accommodate "as if" 40 pips SL was used(and appropriate RR to it). What it mean? In proper money management you usually need that every trade invest same amount. Some automatically calculate it in % per account equity but it is ok to use certain fixed for a while, and change it after more significant change to account equity for another time being. But still during that time, you want to make sure each trade is of same size to get same amount of profit. But investment in pips you willing to risk can vary. Assuming each trade have same RR, one trade can be done with 15pips SL while on another you may need to have 20 SL or more. That mean if both have same RR of say 3, they will have a different risk/profit which is not good, you want to give every trade same relevance, both risk and profit.

Therefore, MPOAS mean ratio of trade amount vs number of pips SL trade will have regardless of real SL. So for example say I setup MPOAS to 40 pips. I place pending position with this tool, SL at 20 pips and default trade amount to 1 lot. Trade amount will be executed with 2 lots to make it same as if you traded with 40 pips SL. In another trade your SL is 40 pips, trade amount will be 1 lot. In another one SL is 10 pips, trade amount will be 4 lots etc. This is calculated into pending order based on default trade amount and MPOAS vs SL. What this achieve is that every trade you make will have same relevance in terms of risk and profit(assuming RR is same for all), regardless of whether your trade is 5 pips SL and 15 pips TP or 20 pips SL and 60 pips TP. As long as you keep same RR(profit multiplier), you will always risk same amount and get same reward.

You may ask why not just make bigger SL, after all it will also increase chance of success? Well yes but then RR is thrown out of window. MPOAS only adjust your position size, not SL, entry or TP. Obviously MPOAS should accommodate for biggest possible SL you may need to use, so that its same or bigger than any real trade SL. If real SL is bigger, calculated trade amount will actually be smaller than default trade amount to balance it.

Unzip it under C:\Users\"yourname"\AppData\Local\JForex\Strategies.
Enjoy & regards.