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[[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.
Trigger level for Buy order should be reached on the Ask price at broker in order to activate the Trailing stop order. Trigger level for Sell order should be reached on the Bid price at broker in order to activate the Trailing stop order.
Trigger level for Buy order should be reached on the Ask price at broker in order to activate the Breakeven order. Trigger level for Sell order should be reached on the Bid price at broker in order to activate the Breakeven order.
==Appearance ==
The appearance of the Master Strategy in the DOM window and on the chart depens depends 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.
==Applying Master Strategy==
* Drag-and-drop the Master Strategy icon http[[File://www.multicharts.com/img/wiki/strategies/41MSTSTRTG.png ]] to an active order or open position '''on the chart'''; or:* Drag-and-drop the Master Strategy icon http[[File://www.multicharts.com/img/wiki/strategies/41MSTSTRTG.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[[File://www.multicharts.com/img/wiki/strategies/41MSTSTRTG.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[[File://www.multicharts.com/img/wiki/strategies/41MSTSTRTG.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.
For each master strategy level the strategy type can be selected:
* Check '''Breakeven''' check box to apply this strategy type to a particular level. Click on the dots next to Breakeven to set its parameters (see [[Breakeven]] Strategy) to apply this strategy type to a particular level.* Check '''Trailing Stop''' check box to apply this strategy type to a particular level. Click on the dots next to Trailing Stop to set its parameters (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).
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[[File://www.multicharts.com/img/wiki/strategies/41MSTSTRTG.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[[File://www.multicharts.com/img/wiki/strategies/41MSTSTRTG.png ]] in the Exit Strategy menu; or:
* Enable '''Auto Attach to Orders''' feature in the Place Strategy window when applying the strategy.
# Open Strategy Parameters window by one of the following methods:
#* Right-click the Master Strategy icon http[[File://www.multicharts.com/img/wiki/strategies/41MSTSTRTG.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.