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Strategy Eagle Eye
StrategyEagleEye is a open source NT8 trading strategy designed to manage position sizing and risk through a dynamic trailing stop mechanism. It activates a trailing stop once a specified profit target is reached, updating the high watermark as profits increase. If profits drop below a set percentage of this high watermark, the strategy closes all positions to protect gains. Additionally, it resets trail variables at the start or end of each trading session, ensuring optimal performance.
Description
StrategyEagleEye is a open source NinjaTrader 8 strategy designed to enhance position management and risk control. It’s particularly effective for daily trading strategies.
Key Features:
- Daily Profit Target: Sets a specified daily profit goal.
- Daily Stop Limit: Sets a specified daily stop limit.
- Trailing Stop: Once the daily profit target is reached, a trailing stop is activated to protect gains. The stop loss adjusts as the profit increases, minimizing potential losses.
- Session-Based Management: Resets the trailing stop at the beginning of each trading session, ensuring a fresh start for daily profit calculations.
Benefits:
- Improved Profit Protection: Helps lock in profits and reduce the risk of giving back gains.
- Improved Capital Protection: Helps limit your loss.
- Enhanced Risk Management: Provides a structured approach to managing risk and controlling potential losses.
- Simplicity and Ease of Use: The strategy is straightforward to implement and understand.
Ideal Use Cases:
- Daily trading strategies
- Traders seeking to improve risk management and profit protection
Note: This strategy is designed to be a component of a larger trading system. It’s recommended to use it in conjunction with other strategies or indicators to create a comprehensive trading approach.
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