System Trading

Unlocking the Power of RRS Non-Directional EA for MetaTrader 4
MetaTrader4
Unlocking the Power of RRS Non-Directional EA for MetaTrader 4

If you’re looking for a trading assistant that doesn’t rely on traditional strategies, the RRS Non-Directional EA might just be what you need. This Expert Advisor (EA) operates without any technical indicators, price action analysis, or even news events. Instead, it embraces a more random approach to trading, allowing for a variety of strategies that you can customize to fit your trading style. Despite its random nature, this EA has proven to generate profits when paired with solid risk management practices. Let’s dive into its features and settings to see how it can enhance your trading experience. Key Features of RRS Non-Directional EA Trading Strategies: Hedge_Style: Simultaneously opens both Buy and Sell trades. BuySell_Random: Randomly opens either a Buy or Sell trade. Buy_Sell: Follows the last closed order type; if the last was a Buy, it opens a Sell. Auto_Swap: Only opens trades in the direction of positive swap charges. Buy_Order: Exclusively opens Buy trades. Sell_Order: Exclusively opens Sell trades. Customizable Settings Variable Values Description New_Trade True/False True: EA can take trades. False: EA will not take any trades. Lot_Size Double Value Choose your desired lot size for each trade taken by the EA. StopLoss_Type Virtual_SL, Classic_SL Virtual SL: Closes the trade when the specified stop loss is reached, invisible to the broker. Classic SL: A visible stop loss that is registered on the broker’s server. StopLoss Int Value Set your stop loss value in points/pips. Set Stop Loss to 0 to disable it. TakeProfit_Type Virtual_TP, Classic_TP Virtual TP: The take profit level is not visible to the broker. Classic TP: Visible take profit level registered on the broker’s server. TakeProfit Int Value Set your take profit value in points/pips. Set Take Profit to 0 to disable it. Trailing_Type Virtual_Trailing, Classic_Trailing Virtual Trailing: Modifications remain on your local PC. Classic Trailing: Updates directly on the broker’s server. Trailing_Start Int Value (Points/Pips) Specify the number of pips from the opening price at which trailing begins. Trailing_Gap Int Value (Points/Pips) Set the gap in pips between the market price and the trailing stop loss. Risk_In_Money_Type FixedMoney, BalancePercentage Fixed Money: Closes trades when losses reach a specified amount. Balance Percentage: Calculates based on your account balance. Money_In_Risk  Int Value If Risk_In_Money_Type is FixedMoney, enter the amount you’re willing to lose. If set to BalancePercentage, the EA calculates risk based on your balance. Max_Spread Int Value (Points/Pips) Sets the maximum spread allowable for trading. Slippage Int Value (Points/Pips) Set the maximum slippage allowed during order execution. Note: If you run into issues with EA performance, try removing #property strict from line 6 of the EA code. Good Luck and Happy Trading!

2025.03.17
Maximize Your Trading Efficiency with the CloseAll Orders EA for MetaTrader 4
MetaTrader4
Maximize Your Trading Efficiency with the CloseAll Orders EA for MetaTrader 4

Why Use the CloseAll Orders EA in MetaTrader 4? As traders, we know that the markets can be unpredictable. Having a reliable tool at your disposal can make all the difference. The CloseAll Orders EA is designed to help you manage your trades efficiently. Here’s why you should consider using it: Emergency Closure: Sometimes, the market takes a turn, and you need to exit all your positions quickly. This EA lets you close all open and pending orders in one go, minimizing any potential losses. Risk Management: It’s a solid risk management tool. When market conditions change dramatically, this EA allows you to clear your trades instantly, freeing you up to reassess your strategy without the stress of open positions. Time Efficiency: Let’s face it, manually closing each order can be a pain, especially during volatile times. The CloseAll Orders EA automates this process, giving you back precious time. Avoiding Emotional Trading: Emotions can cloud judgment. By automating order closures, this EA takes the emotional guesswork out of trading, ensuring you stick to your pre-set rules instead of reacting in panic or greed. Testing and Strategy Changes: If you’re experimenting with new strategies or need to make adjustments, this EA allows you to close all positions quickly, helping you start fresh without any lingering trades. Error Reduction: We’re all human, and mistakes happen. Manual trading can lead to errors, like accidentally closing the wrong order. The EA handles the task systematically, minimizing the risk of costly mistakes. After-Hours Trading: Need to head out but want to ensure all your positions are closed? You can set this EA to automatically close all orders, giving you peace of mind even when you’re away from your trading station.

2025.01.25
Maximize Your Trading with the Market Watch Panel Utility for MetaTrader 4
MetaTrader4
Maximize Your Trading with the Market Watch Panel Utility for MetaTrader 4

Stay on Top of Your Trades with the Market Watch Panel Utility If you're looking to streamline your trading experience, the Market Watch Panel Utility for MetaTrader 4 is a game changer. This nifty tool offers real-time monitoring of financial symbols, allowing you to keep your finger on the pulse of the markets with ease. The clean and intuitive interface displays essential data like closing prices, making it a breeze to switch between symbols and conduct focused market analysis. With this utility, you can stack multiple symbols and customize your trading setup, ensuring that you can track market movements efficiently and make informed decisions in no time. Key Features of the Market Watch Panel Utility The Market Watch Panel Utility isn't just about looks; it delivers functionality that can enhance your trading strategy. Here are some of its standout features: Save Your Symbols: You can store symbols in a text file, so every time you load the panel, your saved symbols will be right there waiting for you. Customization Options: Tailor the panel to your taste by changing the text and window colors. It operates like a traditional market data window, giving you a straightforward way to monitor prices and stay updated. Customizing Your Panel Here's a quick overview of the main inputs you can tweak to make the panel truly yours: Panel Background Color: Set the entire panel's background color (default: White). Panel Text Color: Choose the color for the text displayed on the panel (default: DarkBlue). Client Area Background: Adjust the client area background color within the panel (default: LightGray). Main Text Color: Specify the main text color for better visibility (default: Purple). Personalize Your Button Image ***NOTE***: The current version of the Market Watch Panel Utility does not include a default button image. While the button will function, it may remain invisible unless you add a BMP image. Here’s how to customize it: Place your own BMP image (24-bit format) into the MQL5/Images folder. Modify the code to point to your custom image by updating the resource path. Make sure that your image is correctly formatted and that the path is accurate to prevent any errors during compilation. This way, you can add a personal touch to your Market Watch Panel Utility with a custom button image. Happy trading!

2025.01.20
Master Your Trading with the Symbol Swap Panel for MetaTrader 4
MetaTrader4
Master Your Trading with the Symbol Swap Panel for MetaTrader 4

Description: The Symbol Swap Panel is a must-have utility for traders who want to take control of their chart symbols and Market Watch with ease. This handy tool lets you effortlessly swap the current symbol on your chart while automatically adding the chosen symbol to your Market Watch. It's specifically designed for traders who need quick access to various symbols and real-time market data, all without interrupting their trading flow. Key Features: 1. Effortless Symbol Swapping:    - Switch the active symbol on your chart with just one click. This feature allows you to make quick adjustments to your strategy without the hassle of navigating through multiple menus. 2. Automatic Market Watch Updates:    - Every time you switch a symbol on the chart, the new symbol is instantly added to Market Watch, ensuring you're always up-to-date with real-time data and market insights. 3. Streamlined Trading Workflow:    - By merging symbol management with Market Watch, this panel enhances your trading process, cutting down on the time and effort needed to track and analyze multiple symbols. 4. Historical Data Insights:    - The panel allows for symbol swaps backed by historical data, empowering traders to analyze past market conditions for better decision-making. 5. Optimized Data Loading:    - Designed for efficient data synchronization, it's a good idea to toggle back and forth when changing timeframes to ensure all relevant data loads correctly for consistent performance. Practical Use Case: If you're a trader who juggles multiple symbols, the Symbol Swap Panel offers a speedy and efficient way to switch between charts and refresh Market Watch without missing a beat on your market analysis. Whether you're diving into currency pairs or stocks, this tool keeps all pertinent data at your fingertips, boosting your ability to react to market shifts in real time. This utility is perfect for active traders and analysts looking for a streamlined approach to managing symbols and Market Watch entries, providing a practical solution for staying focused and efficient in fast-paced trading scenarios. ***NOTE***:The current Symbol Swap Panel code doesn’t include a default button image. While the button will function, it will be invisible without adding a BMP image. To customize the button image in the Symbol Swap Panel Utility, follow these steps: Place your own BMP image (24-bit format) in the MQL5/Images folder. Update the code to point to your custom image by changing the resource path to the new image file. Make sure the image is properly formatted and the path is correct to avoid any compilation errors. This allows you to personalize the panel with your own button images. Link to the product: MT5: https://www.mql5.com/en/market/product/122618 MT4: https://www.mql5.com/en/market/product/122620

2025.01.19
Mastering the 2 EMA Strategy for Trend Trading on MetaTrader 4
MetaTrader4
Mastering the 2 EMA Strategy for Trend Trading on MetaTrader 4

Hey there, fellow traders! Today, I want to share a straightforward yet effective trading strategy that can help you ride the trends like a pro. This is the 2 EMA strategy, and it's best suited for the daily (D1) time frame. How It Works Buy Signal: When the closing price breaks above the EMA constructed from the high prices, and the RSI is above 55, it’s time to go long. Sell Signal: Conversely, when the closing price breaks below the EMA built from the low prices, with the RSI dipping below 45, that’s your cue to sell. Trade Management: The system automatically closes the previous trade if an opposite signal occurs, helping you stay nimble in the market. Risk Management: This strategy incorporates both take profit and stop loss levels to safeguard your investments. So there you have it! This 2 EMA strategy is not just easy to implement, but it also keeps you aligned with the market trends. Give it a shot and see how it fits into your trading routine!

2024.12.23
Optimizing Your Trading Strategy with the Backtesting Trade Assistant Panel for MetaTrader 4
MetaTrader4
Optimizing Your Trading Strategy with the Backtesting Trade Assistant Panel for MetaTrader 4

Are you looking to fine-tune your trading strategy? The Backtesting Trade Assistant Panel for MetaTrader 4 is here to help! This handy tool is designed to streamline your backtesting process, making it easier than ever to analyze your trading strategies and see what works. Why Use the Backtesting Trade Assistant Panel? Simplified Management: The panel makes it a breeze to manage your trades during backtesting. Visual Insights: With clear charts and data, you can easily spot trends and patterns. Time-Saving: Focus on fine-tuning your strategy instead of getting bogged down in the details. So, whether you're a seasoned trader or just starting out, this panel can give you the edge you need to succeed in the markets. Ready to take your trading game to the next level? Give the Backtesting Trade Assistant Panel a try today!

2024.10.23
Unlocking the Potential of the EuroSurge EA for MT4: A Trader's Guide
MetaTrader4
Unlocking the Potential of the EuroSurge EA for MT4: A Trader's Guide

A Friendly Introduction to the EuroSurge Expert Advisor If you're on the lookout for a reliable trading assistant, the EuroSurge Expert Advisor (EA) for MetaTrader 4 might just be what you need. This streamlined version leverages multiple technical indicators to generate trade signals, offers customizable lot sizing, and manages trades based on specific conditions. Getting Started with the Default Settings The default settings are optimized for trading EUR/USD on a 5-minute chart, and they’ve been fine-tuned since 2020 to help you find your footing in the market. Understanding Input Parameters Trade Size Calculation: This EA supports three methods for calculating trade size: Fixed lot size for consistent trading. Percentage of account balance to tailor your risk. Percentage of account equity to better manage your trades. Parameters like FixedLotSize, TradeSizePercent, and MagicNumber help you configure the lot size while uniquely identifying trades. Indicator Settings: This EA utilizes a range of indicators to generate buy and sell signals: Moving Average (MA) with an adjustable period. Relative Strength Index (RSI) with customizable overbought/oversold levels. MACD featuring adjustable EMA and signal line settings. Bollinger Bands with modifiable periods and deviations. Stochastic Oscillator with configurable %K, %D, and slowing parameters. You can easily toggle each indicator on or off using parameters like UseMA or UseRSI. Signal Detection Made Easy IsBuySignal(): This function checks if all conditions for a buy signal are met based on your selected indicators. Here’s what it looks for: MA Condition: Short-term MA must be above the long-term MA. RSI Condition: RSI should be below 50 (relaxed from the oversold level of 30). MACD Condition: Compares the MACD line with the signal line. Bollinger Bands Condition: Looks for price to be below the lower band. Stochastic Condition: %K and %D values should be below 50 (relaxed from 20). IsSellSignal(): This function mirrors IsBuySignal() but for selling conditions, such as: MA Short < MA Long RSI > 50 (relaxed from the overbought level of 70) MACD line < signal line Price above the upper Bollinger band Executing Trades with Confidence When your buy or sell conditions align, the EA will place a trade with a calculated stop loss (SL) and take profit (TP) based on your chosen multipliers (SL_Multiplier, TP_Multiplier). The lot size is determined using the CalculateLotSize() function, which adjusts according to your selected trade size method. Trades are executed using the OrderSend() function, complete with error handling to ensure everything runs smoothly. Happy trading! With the EuroSurge EA, you’re one step closer to enhancing your trading strategy.

2024.10.15
Mastering the Doji Candlestick Pattern: Your Go-To Tool for MetaTrader 4
MetaTrader4
Mastering the Doji Candlestick Pattern: Your Go-To Tool for MetaTrader 4

Hey there, fellow traders! If you're diving into the world of candlestick patterns, you'll want to get familiar with the Doji Pattern Detector EA. This handy tool is built to spot the classic Doji candlestick pattern on any chart you’re analyzing. So, what’s a Doji, you ask? It happens when the opening and closing prices of a candle are pretty much neck and neck, signaling a bit of indecision in the market. Why Use the Doji Pattern Detector EA? This EA is a game changer for traders looking to add Doji patterns to their strategy. It smartly identifies Doji candles where the open and close prices are within a tight range and nestled right at the midpoint of the candle's high and low. Key Features: Doji Detection: The EA checks if the difference between the open and close prices is less than 3 points. It also confirms that the open and close are hovering near the midpoint of the candle’s range, allowing for a 10% tolerance. Chart Marking: When a Doji is spotted, a red arrow appears 5 points below the candle’s low. A label saying "Doji" is placed 3 points below the arrow to make it easy to spot. Alerts and Notifications: This EA sends an alert and pops up a message when it detects a Doji pattern on the last closed candle. In a nutshell, the Doji Pattern Detector EA is a fantastic tool for traders who want to incorporate Doji patterns into their trading approach. It gives you a clear visual and audible cue of market indecision or possible reversals, helping you make better trading decisions!

2024.09.22
How to Identify the First Friday of the Month for NFP Trading
MetaTrader4
How to Identify the First Friday of the Month for NFP Trading

Hey traders! If you’re looking to get a jump on the Non-Farm Payroll (NFP) data, knowing how to pinpoint the first Friday of the month is crucial. This guide will walk you through a handy script you can use with MetaTrader 4 that makes this process a breeze. Why Is the First Friday Important? The first Friday of each month brings the NFP report, a major event for traders. It can lead to significant price movements in the forex market, so being prepared is key. Using the Script Below is a simple script to detect whether it's the first Friday of the month. This will help you get ready for the NFP announcements. Let's break it down: #property copyright "Copyright 2023, MetaQuotes Ltd." #property link "https://www.mql5.com" #property version "1.00" #property strict datetime lastTime = 0; // Variable to store the time of the last detected candle int OnInit() { lastTime = iTime(Symbol(), PERIOD_D1, 0); return(INIT_SUCCEEDED); } void OnDeinit(const int reason) { // Clean up if necessary } void OnTick() { datetime currentTime = iTime(NULL, PERIOD_D1, 0); // Get the current candle time if (IsFirstFriday() && currentTime != lastTime) { Print("This is the Friday of The First Week of The Month"); lastTime = currentTime; // Update lastTime to the current candle time } } bool IsFirstFriday() { int dayOfWeek = TimeDayOfWeek(TimeCurrent()); // Get current day of the week int dayOfMonth = TimeDay(TimeCurrent()); // Get current day of the month if (dayOfWeek == 5) { // Check if today is Friday if (dayOfMonth >= 1 && dayOfMonth

2024.07.23
Maximize Your Trading with Grid EA Pro for MetaTrader 4
MetaTrader4
Maximize Your Trading with Grid EA Pro for MetaTrader 4

Hey fellow traders! If you're looking to step up your game, let me introduce you to the Grid EA Pro, a professional advisor designed specifically for MetaTrader 4. This tool leverages the Relative Strength Index (RSI) to help you navigate the market more effectively. One of the standout features of this EA is its ability to reduce drawdown. It works by overlapping unprofitable orders, which can really help keep your account in the green. Plus, the chart displays real-time profit information, making it a handy tool for manual trading as well! ⚡ If you're serious about trading, I highly recommend using an ECN broker with low spreads. Some great options include IC Markets, Exness, NordFX, FXPRIMUS, Alpari, and FXTM. ⚡ Give this EA a spin with a demo account before diving in! It’s a smart way to test the waters. ⚡ Also, consider pairing it with Buy/Sell Signals to follow trends more effectively. This way, you can set it to work semi-automatically, focusing on either buy or sell strategies based on market conditions. Key Features: RSI_PERIOD - This is the period for calculating the relative strength index; UP_LEVEL - The upper threshold for RSI; DN_LEVEL - The lower threshold for RSI; RSI_TIMEFRAME - The timeframe used for calculations; START_LOT - Your initial lot size; LOT_MULTIPLIER - The multiplier for lots in the order grid; MAX_LOT - The maximum lot size allowed; STEP_ORDERS - The step size for orders in the grid; STEP_MULTIPLIER - The multiplication factor for the order step (set to -1 if not used); MAX_STEP - The maximum step size for order grids; OVERLAP_ORDERS - The order from which the overlap function is activated; OVERLAP_PIPS - The minimum profit in pips required to close unprofitable orders; STOPLOSS, TAKEPROFIT - Set your stop loss and take profit in pips (set to -1 if not used); BREAKEVEN_STOP, BREAKEVEN_STEP - Define levels and steps for breakeven (set to -1 if not used); TRAILING_STOP, TRAILING_STEP - Set the trailing stop level and step (set to -1 if not used); MAGIC_NUMBER, ORDERS_COMMENT - Unique identifiers for your orders and any comments; START_TIME, END_TIME - Specify the time range for opening orders (set to '00:00' if not used).

2024.05.19
How to Retrieve the Most Recent Closed Trade in MT4 with Your Expert Advisor
MetaTrader4
How to Retrieve the Most Recent Closed Trade in MT4 with Your Expert Advisor

If you're diving into the world of trading with MetaTrader 4, you might find yourself needing to analyze your closed trades. Luckily, there's an Expert Advisor (EA) that can help you sift through your trading history with ease. Understanding the Nth Closed Trade Functionality This EA scans all of your closed trades and identifies the most recently closed one. Here's the deal: when you input '0', it fetches the latest trade. If you input '1', it grabs the trade that closed just before that, and so forth. It’s a handy way to keep tabs on your trading performance! Customizing Your Trade Searches What’s even better? You can filter your trades by symbol and magic number. This means you can hone in on specific trades that matter most to you. Why This Matters Being able to analyze your trades effectively is crucial for improving your trading strategy. Understanding your recent performance can provide valuable insights that help you make better decisions moving forward.

2024.05.05
How to Retrieve the Last Active Trade in MT4: A Handy Expert Advisor
MetaTrader4
How to Retrieve the Last Active Trade in MT4: A Handy Expert Advisor

Unlocking the Power of Your Trades If you're diving into the world of trading with MetaTrader 4, you know how crucial it is to keep track of your active trades. One handy tool that can make your life easier is this expert advisor, designed specifically to help you pull up the last active trade in no time. What This Expert Advisor Does This nifty piece of code allows you to access your trades with ease. Most of the time, we find ourselves needing the most recent active trade, but sometimes, you might want to go back a bit further. Here’s where this EA shines! Understanding Active Trades When we talk about active trades, we’re referring specifically to market orders, not those pesky pending orders. The way it works is simple: If you enter 0, it fetches the most recent active trade. Input 1 to grab the trade before that, and you can keep going back as needed. Filtering Your Trades Another great feature is the ability to filter your trades based on the symbol and magic number. This means you can pinpoint exactly what you’re looking for without sifting through a mountain of data. In a nutshell, this expert advisor is a game-changer for those who want to streamline their trading process and keep tabs on their active trades more effectively. Give it a whirl, and see how it can enhance your trading strategy!

2024.05.05
Mastering MQL4: Implementing onTrade Event Handlers for MetaTrader 4
MetaTrader4
Mastering MQL4: Implementing onTrade Event Handlers for MetaTrader 4

Hey there, fellow traders! Today, we’re diving into a crucial aspect of MQL4 programming: implementing the onTrade event handler. This handy little feature helps us keep tabs on our active orders, making our trading experience much smoother. To kick things off, we’re using a CArrayInt to track order tickets. By monitoring changes to this list in the onTimer function, we can trigger specific event handlers whenever certain actions take place. Here’s a quick rundown: //+------------------------------------------------------------------+ //| Event handler when stop loss is hit&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;| //+------------------------------------------------------------------+ void onStopLoss(ulong ticket); //+------------------------------------------------------------------+ //| Event handler when take profit is hit&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;| //+------------------------------------------------------------------+ void onTakeProfit(ulong ticket); //+------------------------------------------------------------------+ //| Event handler when a new order is opened&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; | //+------------------------------------------------------------------+ void onTradeEntry(ulong ticket); //+------------------------------------------------------------------+ //| Event handler when an order is closed(removed)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; | //+------------------------------------------------------------------+ void onTradeExit(ulong ticket); Note: This implementation doesn’t cover all the bells and whistles of the MQL5 onTradeTransaction handler. Think of it as a solid starting point! Check out the output log for the EA in the screenshot below: So there you have it! With these event handlers in your toolkit, you’ll be better equipped to manage your trades effectively. Happy trading!

2024.04.29
Mastering Classic and Virtual Trailing in MetaTrader 4
MetaTrader4
Mastering Classic and Virtual Trailing in MetaTrader 4

As traders, we’re always on the lookout for ways to optimize our strategies and maximize our profits. One powerful tool that can help us achieve this is the trailing stop feature in MetaTrader 4. Today, let’s dive into the differences between Classic Trailing and Virtual Trailing, and how each can impact your trading performance. Understanding Classic Trailing Classic Trailing allows you to use a stop loss to automatically follow the price movement. What this means is that as the market moves in your favor, your stop loss will adjust accordingly, locking in profits while still giving you room to breathe. The key thing to note is that this adjustment is reflected on your broker’s server, which means you have real-time tracking and execution. Discovering Virtual Trailing On the other hand, Virtual Trailing operates a bit differently. Instead of adjusting your stop loss directly, it works behind the scenes, meaning it doesn’t reflect on your broker’s server. This can be advantageous in certain scenarios where you want to keep your stop loss hidden from the market, but it requires a bit more attention to your trades. Key Concepts to Consider Trailing Gap: This is the gap between the bid and ask price. Understanding this gap is crucial for effective trailing. Trailing Start: This indicates the distance from your order entry price at which the trailing starts. Setting this up correctly can make a big difference in your strategy. Both Classic and Virtual Trailing have their pros and cons, and the best choice often depends on your trading style and objectives. Experiment with both in a demo account to see which one fits your strategy best!

2024.04.19
Mastering Trade Management with Virtual SL TP Pending and Trailing Stop in MetaTrader 4
MetaTrader4
Mastering Trade Management with Virtual SL TP Pending and Trailing Stop in MetaTrader 4

Hey there, fellow traders! Today, I want to talk about a nifty tool that can really streamline your trading process in MetaTrader 4: the Virtual_SL_TP_Pending_with_SL_Trailing.mq4. This script is designed to help you manage your trades more effectively by setting virtual stop loss and take profit levels, along with a pending order that features a trailing stop loss option. Let’s Dive Into the Details Here’s a quick rundown of what this script offers: Copyright and Link: It includes copyright information and a link to the creator's website, so you know where to find more resources. Version: The script indicates its version, which is handy for tracking updates. Description: You’ll get insights about the script, including the creator's email, intellectual property notes, and a friendly reminder to use it at your own risk. Input Parameters: These are external variables that let you customize how the Expert Advisor (EA) behaves, including: StopLossPoints: Set your initial stop loss in points. TakeProfitPoints: Define your initial take profit in points. SpreadThreshold: Set the spread threshold for your virtual stop loss/take profit in points. TrailingStopPoints: Determine the trailing stop in points for your virtual pending order. EnableTrailing: Choose whether to enable or disable the trailing stop feature. Global Variables: These are used throughout the script to store important data like initial spread, virtual stop loss, take profit, and pending order prices. Initialization Function (OnInit): This function kicks in when the EA is attached to a chart, calculating initial virtual stop loss, take profit, and pending order price based on your input settings. Tick Function (OnTick): This function runs with every tick of the price. It checks if the spread has increased beyond your set threshold and adjusts the virtual stop loss, take profit, and pending order price as needed. It also monitors price movements to close positions at your virtual stop loss or take profit. Plus, if you have trailing stops enabled and the price hits your pending order price, it will place a virtual pending order with a trailing stop loss. Close Position Function (ClosePosition): This function will close your position once the price touches the virtual stop loss or take profit. Place Pending Order Function (PlacePendingOrder): This function places a virtual pending order with a trailing stop loss if you've enabled the trailing option. This EA is a fantastic way to automate your trade management process using virtual levels and a trailing stop feature, making it easier for you to focus on your trading strategy. Happy trading!

2024.04.10
Maximize Your Trading Efficiency with the Close Basket Pairs Script for MetaTrader 4
MetaTrader4
Maximize Your Trading Efficiency with the Close Basket Pairs Script for MetaTrader 4

If you’re looking to streamline your trading process, the Close Basket Pairs script for MetaTrader 4 might just be the tool you need. This handy MQL4 script automates the closing of positions across a group of currency pairs based on specific profit and loss thresholds. Let’s break it down: Script Name: CloseBasketPairs.mq4 Copyright: MetaQuotes Software Corp., 2024 Version: 1.01 Author: persinaru@gmail.com License: Free open source (IP 2024) Main Function: Closes positions for a defined basket of currency pairs when profit or loss thresholds are reached. Disclaimer: Use at your own risk; the creator is not responsible for any potential losses. The script allows you to define your basket pairs and their order types, along with the profit and loss thresholds you want to set. It efficiently loops through all your open positions, checking if they match the defined basket pairs. When a position hits your specified criteria—either a profit exceeding your set limit or a loss surpassing your threshold—the script closes that position automatically. Additionally, it includes functions for initialization, deinitialization, and managing tick events. The PrintStrategyInfo() function is particularly useful as it provides insights into your trading strategy, helping you keep track of how your basket is performing.

2024.04.10
Mastering Trailing Stop Loss for All Your Trades in MetaTrader 4
MetaTrader4
Mastering Trailing Stop Loss for All Your Trades in MetaTrader 4

Hey there, fellow traders! Today, I want to share a nifty script that’s going to help you manage your open positions more effectively. If you’re looking to enhance your trading strategy, this is for you! This script is designed to trail the stop loss on all your open buy and sell orders. It’s a straightforward tool that can make a significant difference in how you protect your profits. How to Set It Up To get started, you’ll want to tweak the TrailStart and TrailStop parameters. These settings allow you to define how closely your stop loss follows the market price. Adjust them to fit your trading style and risk tolerance. Customization Options This is just a basic example of what you can do. Feel free to further optimize and customize this script according to your specific trading needs. The more tailored it is to your strategy, the better results you’re likely to see! Check out the visuals below to see how it works:

2024.04.10
Mastering Continuous Trend-Following: A Simple MT4 Strategy for Smart Traders
MetaTrader4
Mastering Continuous Trend-Following: A Simple MT4 Strategy for Smart Traders

If you're looking to sharpen your trading game, this MetaTrader 4 (MT4) script is a gem. It's designed to help you effortlessly buy and sell based on a straightforward continuous trend-following strategy. Let's dive into the ins and outs of this script: Initialization: The script kicks off by initializing itself and gives you a heads-up when it's ready to roll. Deinitialization: When it's time to wrap things up, the script deinitializes and lets you know it’s done. OnTick Function: This function comes into play with every new tick (price change) in the market. Reset Position Tracking Variables: The script clears out any variables that track your open buy and sell positions. Check Open Orders: It goes through all open orders to see if you've got any active buy or sell positions. Open Buy Position: If there’s no active buy position and the "OpenBuyPosition" flag is set to true, it’ll try to open one using the current market bid price, complete with a stop loss and take profit set for good measure. Open Sell Position: Similarly, if there’s no active sell position and the "OpenSellPosition" flag is true, it will attempt to open a sell order based on the current market ask price, also setting a stop loss and take profit. Check Closed Orders: It keeps an eye out for any closed orders. If one of your buy or sell orders closes in the green, it’ll reset the corresponding position flag. Input Parameters: You’ve got the flexibility here with input parameters for lot size, stop loss, take profit, and options to control whether to open buy or sell positions. Disclaimer: A word of caution—this script comes with a warning. Use it at your own risk, as the creator isn’t responsible for any potential losses or damages. In a nutshell, this script is all about automating your trading by executing buy and sell orders based on a solid trend-following strategy. You can customize parameters like lot size and trade direction to fit your style. Just remember to tread carefully and do your homework before you hit the live trading button!

2024.04.10
Master Your Trades: Close on Profit or Loss with This Expert Advisor for MetaTrader 4
MetaTrader4
Master Your Trades: Close on Profit or Loss with This Expert Advisor for MetaTrader 4

Close on Profit or Loss in Account Currency - Expert Advisor Update Hey traders! If you’re looking to streamline your trading strategy, you’ll want to check out the latest version of the Close on Profit or Loss in Account Currency Expert Advisor for MetaTrader 4. Here’s what’s new: Error Handling: This update includes robust error handling to manage situations where orders can't be closed or deleted. Code Optimization: We’ve cleaned up the code to make it more efficient and easier to read. Increased Efficiency: Unnecessary loops and computations have been removed, enhancing the overall performance. Clean Slate: All chart objects will now be cleared upon EA deinitialization. When you set the EA to 0, it won’t take any action. Remember, for the Positive Closure in Account Currency to trigger, it must be greater than your current equity. For example, if your equity is $55,000, set the Positive Closure to $55,500 to lock in a $500 profit. Example: If your equity is $55,000 and you set the Positive Closure to $55,500, it will execute immediately if it falls below that amount. On the flip side, for the Negative Closure in Account Currency, it should be lower than your current equity to avoid immediate execution. For instance, if your equity is $55,000, set the Negative Closure to $54,500 to limit your loss to $500. Example: If your equity is $55,000 and the Negative Closure is set to $54,500, it will execute immediately if it goes above that value. To avoid spread spikes, consider adjusting the spread number, but keep in mind that the market can be unpredictable, leading to higher gains or losses. Also, if the spread is set lower than the average for the pairs you’re trading, those positions won’t be executed. WARNING: Use this software at your own risk. The Forex market is known for its volatility! #property copyright "Copyright 2024, MetaQuotes Ltd." #property link "https://www.mql5.com" #property version "1.01" #property description "persinaru@gmail.com" #property description "IP 2024 - free open source" #property description "This EA closes all trades on Profit and Losses calculated in Account Currency." #property description "WARNING: Use this software at your own risk." #property description "The creator of this script cannot be held responsible for any damage or loss." #property strict #property show_inputs Here’s a quick summary of the inputs: Closures: EA closes all trades and pending orders when a profit or loss is reached, calculated in Account Currency. Positive Closure in Account Currency: Set this to your desired profit level (default is 0). Negative Closure in Account Currency: Set this to your acceptable loss level (default is 0). Spread: Default is set to 10. Happy trading, and may your profits be plentiful!

2024.03.25
Mastering Trailing Stop Loss: A Handy Guide for MetaTrader 4 Users
MetaTrader4
Mastering Trailing Stop Loss: A Handy Guide for MetaTrader 4 Users

Hey there, fellow traders! If you’ve been looking to enhance your trading strategy, implementing a trailing stop loss can be a game changer. Today, I’m sharing a simple code example for a trailing stop loss that you can use in MetaTrader 4.Before we dive in, just a heads up: this isn’t a plug-and-play solution. Think of it more as a reference point for your programming journey. Feel free to tweak it to fit your trading style!And yes, I’m just putting this here as a little backup for myself and anyone who might find it useful.Why Use a Trailing Stop Loss?A trailing stop loss is a nifty tool that can help you lock in profits while allowing your trades to run. It moves with the market price, so if the price goes in your favor, your stop loss follows. But if the price starts to turn against you, it holds firm, protecting your gains.Code ExampleHere’s a basic code snippet you can use as a starting point: // Your trailing stop loss code here Final ThoughtsDon’t forget to customize the code to fit your specific needs. Every trader is different, and what works for one may not work for another. If you have any tips or variations, feel free to share them in the comments!

2024.03.23
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