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Created page with "thumb|right|Master Strategy on the chart thumb|right|Master Strategy in the DOM widow The Master Exit Strat..."
[[File:MasterStrategyOnChart.png|thumb|right|Master Strategy on the chart]]
[[File:MasterStrategyInDOM.png|thumb|right|Master Strategy in the DOM widow]]
The Master Exit Strategy is a multi-level strategy where all components interact closely with one another. Multiple bracket levels, trailing stops, breakevens, and all levels may be set so they are constantly synced with one another. It’s an essential tool for scaling-in and scaling-out of positions and for pyramiding positions.
==Appearance ==
The appearance of the Master Strategy in the DOM window and on the chart depens on the selected type of orders to be used in it. Master Strategy can include visual markers of the [[Bracket#Appearance|Bracket]], [[Breakeven#Appearance|Breakeven]] and [[Trailing Stop#Appearance|Trailing Stop]] strategies.
For the '''chart window''', connecting line length can be modified in [[Chart Trading#Appearance|Format Chart Trading]] menu.
For the '''[[Depth of market (DOM)|DOM window]]''', default Breakeven Exit Strategy order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu.
<div style="background-color: #E3FBE5;">Note: When Master Strategy is auto attached to an order and '''has not been triggered yet''', inactive orders are indicated as semi-transparent. </div>
==Applying Master Strategy==
* Drag-and-drop the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png to an active order or open position '''on the chart'''; or:
* Drag-and-drop the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png to an active order or open position on the '''[[Depth of market (DOM)|DOM window]]'''; or:
* Right-click on the active order or open position '''on the chart''' to see the shortcut menu, select Attach Exit Strategy and click Master Strategy.
* Right-click on the active order or open position in the '''[[Depth of market (DOM)|DOM window]]''' to see the shortcut menu, select '''Attach Exit Strategy''' and click '''Master Strategy'''.
* Right-click on the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png in the Exit Strategy menu to see the shortcut menu and check '''Apply To Open Position'''.
==Master Strategy Parameters==
To modify default Master Strategy Parameters:
# Right-click the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png in the Exit Strategy menu to see the shortcut menu.
# Click '''Edit…'''
# Set the desirable Number of Levels in the '''Number of Levels''' box. Master strategy allows using up to '''4''' levels.
# Modify profit target and stop loss values for each level in '''Profit Target''' and '''Stop Loss''' boxes.
Click the '''Price Level''' button or the '''Offset''' button to switch between entry modes.
Offset values can be indicated as ticks or %. To change indication type, click the '''Tick/Percent''' button.
For each master strategy level the strategy type can be selected:
* Check '''Breakeven''' check box (see [[Breakeven]] Strategy) to apply this strategy type to a particular level.
* Check '''Trailing Stop''' check box (see [[Trailing Stop]] Strategy) to apply this strategy type to a particular level.
* If both these types are unchecked, the Master Strategy level will work as a '''Bracket Strategy''' (see [[Bracket]] Strategy).
http://www.multicharts.com/img/wiki/strategies/42.png Contracts quantity can be set in percents of total contracts or directly in numbers of contracts.
To change quantity type, click on the '''Qty''' button.
Click '''More parameters >>''' to show '''Time In Force''' box (see [[Chart Trading#Setting Time in Force|Time in Force]] section) and '''Stop Loss''' type buttons.
'''Stop Loss''' type buttons allow to choose the type of the Stop Loss order: '''Stop Market''' or '''Stop Limit''' with adjustable offset.
To save custom parameters, click '''Save'''.
==Auto Attach==
Auto Attach Master Strategy to orders by one of the following methods:
* Right-click the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png in the Exit Strategy menu to see the shortcut menu, then check '''Auto Attach to Orders'''; or:
* Double-click the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png in the Exit Strategy menu; or:
* Enable '''Auto Attach to Orders''' feature in the Place Strategy window when applying the strategy.
<div style="background-color: #E3FBE5;">Note: When Master Strategy exit strategy is auto attached, custom parameters will be used. </div>
When one or several Exit Strategies auto attached, the '''Pause/Auto Apply''' button with the number of auto attached exit strategies in brackets will be shown in Exit Strategy menu. Click '''Pause''' to temporarily disable auto attach feature.
When auto attach feature is paused, '''no''' Exit Strategies will be automatically applied to an each new entry.
To re-enable auto attach feature click Auto '''Apply'''.
==Saving as Template==
To save the parameters as a template:
# Open Strategy Parameters window by one of the following methods:
#* Right-click the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png in the Exit Strategy menu to see the shortcut menu, then click '''Save as Template'''; or:
#* Click on the '''Save as Template''' button in the Place Strategy window when applying the strategy.
# Modify default Master Strategy Parameters.
# Click '''Save''.
# Choose Master Strategy Template icon.
# Enter Master Strategy Template name.
# Click '''OK'''.
[[Category:Orders and Strategies]]
[[File:MasterStrategyInDOM.png|thumb|right|Master Strategy in the DOM widow]]
The Master Exit Strategy is a multi-level strategy where all components interact closely with one another. Multiple bracket levels, trailing stops, breakevens, and all levels may be set so they are constantly synced with one another. It’s an essential tool for scaling-in and scaling-out of positions and for pyramiding positions.
==Appearance ==
The appearance of the Master Strategy in the DOM window and on the chart depens on the selected type of orders to be used in it. Master Strategy can include visual markers of the [[Bracket#Appearance|Bracket]], [[Breakeven#Appearance|Breakeven]] and [[Trailing Stop#Appearance|Trailing Stop]] strategies.
For the '''chart window''', connecting line length can be modified in [[Chart Trading#Appearance|Format Chart Trading]] menu.
For the '''[[Depth of market (DOM)|DOM window]]''', default Breakeven Exit Strategy order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu.
<div style="background-color: #E3FBE5;">Note: When Master Strategy is auto attached to an order and '''has not been triggered yet''', inactive orders are indicated as semi-transparent. </div>
==Applying Master Strategy==
* Drag-and-drop the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png to an active order or open position '''on the chart'''; or:
* Drag-and-drop the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png to an active order or open position on the '''[[Depth of market (DOM)|DOM window]]'''; or:
* Right-click on the active order or open position '''on the chart''' to see the shortcut menu, select Attach Exit Strategy and click Master Strategy.
* Right-click on the active order or open position in the '''[[Depth of market (DOM)|DOM window]]''' to see the shortcut menu, select '''Attach Exit Strategy''' and click '''Master Strategy'''.
* Right-click on the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png in the Exit Strategy menu to see the shortcut menu and check '''Apply To Open Position'''.
==Master Strategy Parameters==
To modify default Master Strategy Parameters:
# Right-click the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png in the Exit Strategy menu to see the shortcut menu.
# Click '''Edit…'''
# Set the desirable Number of Levels in the '''Number of Levels''' box. Master strategy allows using up to '''4''' levels.
# Modify profit target and stop loss values for each level in '''Profit Target''' and '''Stop Loss''' boxes.
Click the '''Price Level''' button or the '''Offset''' button to switch between entry modes.
Offset values can be indicated as ticks or %. To change indication type, click the '''Tick/Percent''' button.
For each master strategy level the strategy type can be selected:
* Check '''Breakeven''' check box (see [[Breakeven]] Strategy) to apply this strategy type to a particular level.
* Check '''Trailing Stop''' check box (see [[Trailing Stop]] Strategy) to apply this strategy type to a particular level.
* If both these types are unchecked, the Master Strategy level will work as a '''Bracket Strategy''' (see [[Bracket]] Strategy).
http://www.multicharts.com/img/wiki/strategies/42.png Contracts quantity can be set in percents of total contracts or directly in numbers of contracts.
To change quantity type, click on the '''Qty''' button.
Click '''More parameters >>''' to show '''Time In Force''' box (see [[Chart Trading#Setting Time in Force|Time in Force]] section) and '''Stop Loss''' type buttons.
'''Stop Loss''' type buttons allow to choose the type of the Stop Loss order: '''Stop Market''' or '''Stop Limit''' with adjustable offset.
To save custom parameters, click '''Save'''.
==Auto Attach==
Auto Attach Master Strategy to orders by one of the following methods:
* Right-click the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png in the Exit Strategy menu to see the shortcut menu, then check '''Auto Attach to Orders'''; or:
* Double-click the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png in the Exit Strategy menu; or:
* Enable '''Auto Attach to Orders''' feature in the Place Strategy window when applying the strategy.
<div style="background-color: #E3FBE5;">Note: When Master Strategy exit strategy is auto attached, custom parameters will be used. </div>
When one or several Exit Strategies auto attached, the '''Pause/Auto Apply''' button with the number of auto attached exit strategies in brackets will be shown in Exit Strategy menu. Click '''Pause''' to temporarily disable auto attach feature.
When auto attach feature is paused, '''no''' Exit Strategies will be automatically applied to an each new entry.
To re-enable auto attach feature click Auto '''Apply'''.
==Saving as Template==
To save the parameters as a template:
# Open Strategy Parameters window by one of the following methods:
#* Right-click the Master Strategy icon http://www.multicharts.com/img/wiki/strategies/41.png in the Exit Strategy menu to see the shortcut menu, then click '''Save as Template'''; or:
#* Click on the '''Save as Template''' button in the Place Strategy window when applying the strategy.
# Modify default Master Strategy Parameters.
# Click '''Save''.
# Choose Master Strategy Template icon.
# Enter Master Strategy Template name.
# Click '''OK'''.
[[Category:Orders and Strategies]]