BreakOut
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The provided script is an automated trading tool designed to manage and execute trades based on specific price "breakout" movements. It focuses on identifying when the market price moves beyond the previous candle's boundaries to decide whether to enter a new position or close existing ones.
Core Trading Logic
The script operates on a simple reactive principle: it monitors the current live price relative to the high and low points of the most recently completed candle (the "previous" bar).
1. Entry Conditions (Opening Trades) The script looks for moments where the price breaks out of the previous candle's range:
- Buy Signal: If the current price climbs above the High of the previous candle, the script triggers a "Buy" order.
- Sell Signal: If the current price drops below the Low of the previous candle, the script triggers a "Sell" order.
The tool is designed to ensure it only opens one position at a time; it checks if any trades are currently active before attempting to initiate a new one.
2. Exit Conditions (Closing Trades) The script also actively manages open positions by looking for opposite signals to exit the market:
- Closing Buys: If you have an open "Buy" position and the price falls below the Low of the previous candle, the script automatically closes all buy orders.
- Closing Sells: If you have an open "Sell" position and the price rises above the High of the previous candle, the script automatically closes all sell orders.
Safety and Management Features
To ensure smooth operation, the script includes several administrative safeguards:
- Balance Verification: Before placing any trade, the script checks your account to ensure you have sufficient funds or margin available. If the balance is too low, it will trigger an alert rather than attempting a failed trade.
- Dynamic Adjustments: The script automatically detects the precision of different currency pairs (e.g., 3-digit vs. 5-digit brokers) to ensure that price calculations and "point" values remain accurate across various markets.
- Automatic Protection (SL/TP): While the core logic handles entries and exits via breakouts, the script also has the capability to apply specific Stop Loss and Take Profit levels. If these values are defined by the user, the script will automatically modify the trade to include them as soon as the position is opened.
- Error Handling: The script includes a comprehensive internal dictionary that translates complex technical error codes from the broker into human-readable text (e.g., "not enough money," "trade timeout," or "market is closed"), making it easier to troubleshoot issues.
- Slippage Management: It includes a setting to define the maximum allowable price difference (slippage) to protect against entering trades at unfavorable prices during high-volatility moments.
Orders Execution
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BreakOut
//+------------------------------------------------------------------+
//| BreakOut.mq4 |
//| Copyright 2016, soubra2003 |
//| https://www.mql5.com/en/users/soubra2003 |
//+------------------------------------------------------------------+
#property copyright "Copyright 2016, Soubra2003"
#property link "https://www.mql5.com/en/users/soubra2003/seller"
#property version "1.1"
#property strict
//---
#define BalanceErr "EA: NOT ENOUGH BALANCE! Check your trading account balance and/or the lot size."
//---
input string sep1 = ""; //Trades Options ...................................
input int MagicNumber = 9813658; //Magic Number
extern double Lots = 0.01; //Lot Size
/*input*/ double StopLoss = 0; //Stop Loss (0 = Disable)
/*input*/ double TakeProfit = 0; //Take Profit (0 = Disable)
input int Slippage = 3; //Max. Slippage
//---
double MyPoint = Point;
string TradesComment = "By Soubra2003";
//+------------------------------------------------------------------+
//| Expert initialization function
//+------------------------------------------------------------------+
int OnInit()
{
Comment(" ");
if(Digits==3 || Digits==5) MyPoint=Point*10;
//---
return(INIT_SUCCEEDED);
}
//+------------------------------------------------------------------+
//| Expert deinitialization function
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
{
Print("Bye.");
}
//+------------------------------------------------------------------+
//| Expert tick function
//+------------------------------------------------------------------+
void OnTick()
{
//--- Closing By Signal
if( TotalOrdersCount() >= 1 )
{
if( Close[0] < Low[1] ) CloseAllOpenedBuy();
else if( Close[0] > High[1] ) CloseAllOpenedSell();
}
//--- Trading
if(TotalOrdersCount() < 1)
{
if( Close[0] > High[1] ) BuyExecute();
else if( Close[0] < Low[1] ) SellExecute();
}
}
//+------------------------------------------------------------------+
//| Expert TotalOrdersCount function
//+------------------------------------------------------------------+
int TotalOrdersCount()
{
int result = 0;
for(int i=0; i<OrdersTotal(); i++)
{
int ordselect_ = OrderSelect(i,SELECT_BY_POS,MODE_TRADES);
if(OrderSymbol() == Symbol() && OrderMagicNumber() == MagicNumber)
result++;
}
return(result);
}
//+------------------------------------------------------------------+
//| Expert BuyExecute function
//+------------------------------------------------------------------+
void BuyExecute()
{
int tkt_buy = 0;
double OrderPrice = 0;
while(IsTradeContextBusy()) Sleep(100);
if(AccountFreeMarginCheck(Symbol(),OP_BUY,Lots)<=0 || /* NOT_ENOUGH_MONEY */GetLastError()==134)
{
Alert(BalanceErr);
return;
}
else
{
RefreshRates();
OrderPrice = Ask;
tkt_buy = OrderSend(Symbol(), //Pair
OP_BUY, //Command Type
NormalizeDouble(Lots,Digits), //Lot Size
OrderPrice, //Market Price
Slippage, //Max. Slippage
NULL, //Stop Loss
NULL, //Take Profit
TradesComment, //Comment
MagicNumber, //Magic No.
0, //Expiration (Only Pending Orders)
clrNONE); //Arrow Color
if(tkt_buy>0)
{
Print("Buy order placed successfully");
//---
double TheStopLoss=0;
double TheTakeProfit=0;
bool MyOrderSelect = OrderSelect(tkt_buy,SELECT_BY_TICKET);
if(StopLoss > 0) TheStopLoss = OrderOpenPrice()-StopLoss*MyPoint;
if(TakeProfit > 0) TheTakeProfit = OrderOpenPrice()+TakeProfit*MyPoint;
bool MyOrderModify = OrderModify(OrderTicket(), //Selected Ticket No.
OrderOpenPrice(), //Selected Order Open Price
/*Modify*/ NormalizeDouble(TheStopLoss,Digits), //Selected Order Stop Loss
/*Modify*/ NormalizeDouble(TheTakeProfit,Digits), //Selected Order Take Profit
0, //Selected Order Expiration (Only Pending Orders)
Green); //Selected Order Arrow Color
if(!MyOrderModify) Print("Unable to place SL/TP for the Buy order: ",ErrorDescription(GetLastError()));
}
else Print("Buy order failed with error: ",ErrorDescription((GetLastError())));
}
}
//+------------------------------------------------------------------+
//| Expert SellExecute function
//+------------------------------------------------------------------+
void SellExecute()
{
int tkt_sell = 0;
double OrderPrice = 0;
while(IsTradeContextBusy()) Sleep(100);
if(AccountFreeMarginCheck(Symbol(),OP_SELL,Lots)<=0 || /* NOT_ENOUGH_MONEY */GetLastError()==134)
{
Alert(BalanceErr);
return;
}
else
{
RefreshRates();
OrderPrice = Bid;
tkt_sell = OrderSend(Symbol(), //Pair
OP_SELL, //Command Type
NormalizeDouble(Lots,Digits), //Lot Size
OrderPrice, //Market Price
Slippage, //Max. Slippage
NULL, //Stop Loss
NULL, //Take Profit
TradesComment, //Comment
MagicNumber, //Magic No.
0, //Expiration (Only Pending Orders)
clrNONE); //Arrow Color
if(tkt_sell>0)
{
Print("Sell order placed successfully");
//---
double TheStopLoss=0;
double TheTakeProfit=0;
bool MyOrderSelect = OrderSelect(tkt_sell,SELECT_BY_TICKET);
if(StopLoss > 0) TheStopLoss = OrderOpenPrice()+StopLoss*MyPoint;
if(TakeProfit > 0) TheTakeProfit = OrderOpenPrice()-TakeProfit*MyPoint;
bool MyOrderModify = OrderModify(OrderTicket(), //Selected Ticket No.
OrderOpenPrice(), //Selected Order Open Price
/*Modify*/ NormalizeDouble(TheStopLoss,Digits), //Selected Order Stop Loss
/*Modify*/ NormalizeDouble(TheTakeProfit,Digits), //Selected Order Stop Loss
0, //Selected Order Expiration (Only Pending Orders)
Green); //Selected Order Arrow Color
if(!MyOrderModify) Print("Unable to place SL/TP for the Sell order: ",ErrorDescription(GetLastError()));
}
else Print("Sell order failed with error: ",ErrorDescription(GetLastError()));
}
}
//+------------------------------------------------------------------+
//| CLOSE ALL OPENED POSITIONS Buy-Only
//+------------------------------------------------------------------+
void CloseAllOpenedBuy()
{
int total = OrdersTotal();
for(int i=total-1; i>=0; i--)
{
int ticket = OrderSelect(i,SELECT_BY_POS);
if( OrderMagicNumber() == MagicNumber )
{
if( OrderType() == OP_BUY )
{
//Close opened long positions
bool result = OrderClose(OrderTicket(),OrderLots(),MarketInfo(OrderSymbol(),MODE_BID),3,clrNONE);
if(!result)
{
Alert("Order ",OrderTicket()," failed to close. Error: ",ErrorDescription(GetLastError()));
Sleep(750);
}
}
}
}
}
//+------------------------------------------------------------------+
//| CLOSE ALL OPENED POSITIONS Sell-Only
//+------------------------------------------------------------------+
void CloseAllOpenedSell()
{
int total = OrdersTotal();
for(int i=total-1; i>=0; i--)
{
int ticket = OrderSelect(i,SELECT_BY_POS);
if( OrderMagicNumber() == MagicNumber )
{
if( OrderType() == OP_SELL )
{
//Close opened short positions
bool result = OrderClose(OrderTicket(),OrderLots(),MarketInfo(OrderSymbol(),MODE_ASK),3,clrNONE);
if(!result)
{
Alert("Order ",OrderTicket()," failed to close. Error: ",ErrorDescription(GetLastError()));
Sleep(750);
}
}
}
}
}
//+------------------------------------------------------------------+
//| return error description
//+------------------------------------------------------------------+
string ErrorDescription(int error_code)
{
string error_string;
//---
switch(error_code)
{
//--- codes returned from trade server
case 0: error_string="no error"; break;
case 1: error_string="no error, trade conditions not changed"; break;
case 2: error_string="common error"; break;
case 3: error_string="invalid trade parameters"; break;
case 4: error_string="trade server is busy"; break;
case 5: error_string="old version of the client terminal"; break;
case 6: error_string="no connection with trade server"; break;
case 7: error_string="not enough rights"; break;
case 8: error_string="too frequent requests"; break;
case 9: error_string="malfunctional trade operation (never returned error)"; break;
case 64: error_string="account disabled"; break;
case 65: error_string="invalid account"; break;
case 128: error_string="trade timeout"; break;
case 129: error_string="invalid price"; break;
case 130: error_string="invalid stops"; break;
case 131: error_string="invalid trade volume"; break;
case 132: error_string="market is closed"; break;
case 133: error_string="trade is disabled"; break;
case 134: error_string="not enough money"; break;
case 135: error_string="price changed"; break;
case 136: error_string="off quotes"; break;
case 137: error_string="broker is busy (never returned error)"; break;
case 138: error_string="requote"; break;
case 139: error_string="order is locked"; break;
case 140: error_string="long positions only allowed"; break;
case 141: error_string="too many requests"; break;
case 145: error_string="modification denied because order is too close to market"; break;
case 146: error_string="trade context is busy"; break;
case 147: error_string="expirations are denied by broker"; break;
case 148: error_string="amount of open and pending orders has reached the limit"; break;
case 149: error_string="hedging is prohibited"; break;
case 150: error_string="prohibited by FIFO rules"; break;
//--- mql4 errors
case 4000: error_string="no error (never generated code)"; break;
case 4001: error_string="wrong function pointer"; break;
case 4002: error_string="array index is out of range"; break;
case 4003: error_string="no memory for function call stack"; break;
case 4004: error_string="recursive stack overflow"; break;
case 4005: error_string="not enough stack for parameter"; break;
case 4006: error_string="no memory for parameter string"; break;
case 4007: error_string="no memory for temp string"; break;
case 4008: error_string="non-initialized string"; break;
case 4009: error_string="non-initialized string in array"; break;
case 4010: error_string="no memory for array\' string"; break;
case 4011: error_string="too long string"; break;
case 4012: error_string="remainder from zero divide"; break;
case 4013: error_string="zero divide"; break;
case 4014: error_string="unknown command"; break;
case 4015: error_string="wrong jump (never generated error)"; break;
case 4016: error_string="non-initialized array"; break;
case 4017: error_string="dll calls are not allowed"; break;
case 4018: error_string="cannot load library"; break;
case 4019: error_string="cannot call function"; break;
case 4020: error_string="expert function calls are not allowed"; break;
case 4021: error_string="not enough memory for temp string returned from function"; break;
case 4022: error_string="system is busy (never generated error)"; break;
case 4023: error_string="dll-function call critical error"; break;
case 4024: error_string="internal error"; break;
case 4025: error_string="out of memory"; break;
case 4026: error_string="invalid pointer"; break;
case 4027: error_string="too many formatters in the format function"; break;
case 4028: error_string="parameters count is more than formatters count"; break;
case 4029: error_string="invalid array"; break;
case 4030: error_string="no reply from chart"; break;
case 4050: error_string="invalid function parameters count"; break;
case 4051: error_string="invalid function parameter value"; break;
case 4052: error_string="string function internal error"; break;
case 4053: error_string="some array error"; break;
case 4054: error_string="incorrect series array usage"; break;
case 4055: error_string="custom indicator error"; break;
case 4056: error_string="arrays are incompatible"; break;
case 4057: error_string="global variables processing error"; break;
case 4058: error_string="global variable not found"; break;
case 4059: error_string="function is not allowed in testing mode"; break;
case 4060: error_string="function is not confirmed"; break;
case 4061: error_string="send mail error"; break;
case 4062: error_string="string parameter expected"; break;
case 4063: error_string="integer parameter expected"; break;
case 4064: error_string="double parameter expected"; break;
case 4065: error_string="array as parameter expected"; break;
case 4066: error_string="requested history data is in update state"; break;
case 4067: error_string="internal trade error"; break;
case 4068: error_string="resource not found"; break;
case 4069: error_string="resource not supported"; break;
case 4070: error_string="duplicate resource"; break;
case 4071: error_string="cannot initialize custom indicator"; break;
case 4072: error_string="cannot load custom indicator"; break;
case 4073: error_string="no history data"; break;
case 4074: error_string="not enough memory for history data"; break;
case 4075: error_string="not enough memory for indicator"; break;
case 4099: error_string="end of file"; break;
case 4100: error_string="some file error"; break;
case 4101: error_string="wrong file name"; break;
case 4102: error_string="too many opened files"; break;
case 4103: error_string="cannot open file"; break;
case 4104: error_string="incompatible access to a file"; break;
case 4105: error_string="no order selected"; break;
case 4106: error_string="unknown symbol"; break;
case 4107: error_string="invalid price parameter for trade function"; break;
case 4108: error_string="invalid ticket"; break;
case 4109: error_string="trade is not allowed in the expert properties"; break;
case 4110: error_string="longs are not allowed in the expert properties"; break;
case 4111: error_string="shorts are not allowed in the expert properties"; break;
case 4200: error_string="object already exists"; break;
case 4201: error_string="unknown object property"; break;
case 4202: error_string="object does not exist"; break;
case 4203: error_string="unknown object type"; break;
case 4204: error_string="no object name"; break;
case 4205: error_string="object coordinates error"; break;
case 4206: error_string="no specified subwindow"; break;
case 4207: error_string="graphical object error"; break;
case 4210: error_string="unknown chart property"; break;
case 4211: error_string="chart not found"; break;
case 4212: error_string="chart subwindow not found"; break;
case 4213: error_string="chart indicator not found"; break;
case 4220: error_string="symbol select error"; break;
case 4250: error_string="notification error"; break;
case 4251: error_string="notification parameter error"; break;
case 4252: error_string="notifications disabled"; break;
case 4253: error_string="notification send too frequent"; break;
case 4260: error_string="ftp server is not specified"; break;
case 4261: error_string="ftp login is not specified"; break;
case 4262: error_string="ftp connect failed"; break;
case 4263: error_string="ftp connect closed"; break;
case 4264: error_string="ftp change path error"; break;
case 4265: error_string="ftp file error"; break;
case 4266: error_string="ftp error"; break;
case 5001: error_string="too many opened files"; break;
case 5002: error_string="wrong file name"; break;
case 5003: error_string="too long file name"; break;
case 5004: error_string="cannot open file"; break;
case 5005: error_string="text file buffer allocation error"; break;
case 5006: error_string="cannot delete file"; break;
case 5007: error_string="invalid file handle (file closed or was not opened)"; break;
case 5008: error_string="wrong file handle (handle index is out of handle table)"; break;
case 5009: error_string="file must be opened with FILE_WRITE flag"; break;
case 5010: error_string="file must be opened with FILE_READ flag"; break;
case 5011: error_string="file must be opened with FILE_BIN flag"; break;
case 5012: error_string="file must be opened with FILE_TXT flag"; break;
case 5013: error_string="file must be opened with FILE_TXT or FILE_CSV flag"; break;
case 5014: error_string="file must be opened with FILE_CSV flag"; break;
case 5015: error_string="file read error"; break;
case 5016: error_string="file write error"; break;
case 5017: error_string="string size must be specified for binary file"; break;
case 5018: error_string="incompatible file (for string arrays-TXT, for others-BIN)"; break;
case 5019: error_string="file is directory, not file"; break;
case 5020: error_string="file does not exist"; break;
case 5021: error_string="file cannot be rewritten"; break;
case 5022: error_string="wrong directory name"; break;
case 5023: error_string="directory does not exist"; break;
case 5024: error_string="specified file is not directory"; break;
case 5025: error_string="cannot delete directory"; break;
case 5026: error_string="cannot clean directory"; break;
case 5027: error_string="array resize error"; break;
case 5028: error_string="string resize error"; break;
case 5029: error_string="structure contains strings or dynamic arrays"; break;
default: error_string="unknown error";
}
//---
return(error_string);
}
//+------------------------------------------------------------------+
//Bye
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