This script is designed to automate trading within a specific timeframe, using a trading strategy based on "Envelopes," which are lines plotted above and below a moving average of the price to identify potential overbought or oversold conditions. Here's a breakdown of its logic:
1. Setup and Configuration:
- Input Parameters: The script begins by taking in several settings that you, the user, can adjust. These settings control how the script behaves. They include:
- The period (length) used to calculate the moving average for the Envelopes.
- The timeframe to use for the Envelopes (e.g., the current chart, 1-hour, 4-hour, etc.).
- The type of moving average to use (e.g., simple moving average, exponential moving average).
- The deviation percentage, which determines how far the upper and lower Envelope lines are from the moving average.
- A setting for the trailing stop loss, that determines where to set the new stoploss, once it reachs the first Take Profit.
- The start and end times for when the script is allowed to place new trades each day.
- Three different take profit levels (FirstTP, SecondTP, and ThirdTP) that define how much profit the script aims to make on each trade.
- The size of the trades (Lots), or how much of your account to risk on each trade
- The amount of risk you're willing to take.
- The amount the lot size will decrease if the robot reaches consecutive losses.
2. Lot Size Calculation:
- Optimal Lot Size: The script calculates an appropriate trade size based on your account balance and risk tolerance. It looks at your account's free margin, your specified maximum risk percentage, and a "Decrease Factor." This means the script can automatically adjust the trade size, potentially reducing it after a series of losing trades to preserve capital.
3. Locating The Envelope Points
- Envelope Calculation: The script calculates the moving average of the price over a specified period (as defined by the input parameters)
- Envelope Deviation: The Upper Envelope line is calculated as the moving average plus deviation amount while the Lower Envelope line is calculated as the moving average minus deviation amount.
4. Trading Logic:
- Time Restriction: The script will only attempt to open new trades during the defined time window (TimeOpen to TimeClose).
- Order Placement: The script places pending orders (Buy Stop and Sell Stop orders) based on the calculated Envelope lines and the current price. A "Buy Stop" order is placed above the current price and triggers a buy when the price reaches that level. A "Sell Stop" order is placed below the current price and triggers a sell when the price reaches that level.
- Multiple Orders: The script places up to three Buy Stop orders and three Sell Stop orders, each with different take profit levels. These orders are intended to capture potential price movements in either direction.
- Take Profit: These are pre-set targets where the trades will automatically close in profit.
- Order Identification: The script keeps track of the order numbers (tickets) for each of the placed pending orders. This allows it to manage and modify them later.
5. Trailing Stop Loss:
- Trailing Stop: For active "Buy" and "Sell" orders, the script implements a trailing stop loss. This means the stop loss (an order to automatically close the trade if it moves against you) is adjusted as the price moves in your favor, locking in profits. The stop loss level is determined by the moving average or the opposite envelope line, based on your settings.
6. Order Management:
- Order Modification: The script modifies the stop loss levels of open trades based on the trailing stop logic.
- Order Deletion: If pending orders (Buy Stops and Sell Stops) are not triggered by the end of the trading timeframe (TimeClose), the script deletes them.
- Order Reset: The script resets the order identifications in the script, so it can place new orders.
In Summary:
The script uses the Envelopes indicator to identify potential entry points and places pending orders to capitalize on price breakouts. It manages risk by calculating lot sizes based on account balance and implements a trailing stop loss to protect profits. The script restricts trading to a specific time window and deletes pending orders at the end of that window if they haven't been triggered. The core strategy revolves around the idea that price tends to revert to the mean (the moving average) after reaching extreme levels (the Envelope lines).
Orders Execution
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e.2.11 5min GBPUSD
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| Envelope 2.mq4 |
//| tageiger |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "tageiger"
#property link "http://www.metaquotes.net"
//---- input parameters
extern int EnvelopePeriod =144;
extern int EnvTimeFrame =0; //envelope time frame: 0=chart,60=1hr,240=4hr, etc.
extern int EnvMaMethod =1; //0=sma,1=ema,2=smma,3=lwma.
extern double EnvelopeDeviation =0.4;
extern int MaElineTSL =0;//0=iMA trailing stoploss 1=Opposite Envelope TSL
extern int TimeOpen =0;
extern int TimeClose =20;
extern double FirstTP =21.0;
extern double SecondTP =34.0;
extern double ThirdTP =55.0;
extern double Lots =0.1;
extern double MaximumRisk =0.02;
extern double DecreaseFactor =3;
int b1,b2,b3,s1,s2,s3;
double TSL =0;
//+------------------------------------------------------------------+
//| Calculate optimal lot size |
//+------------------------------------------------------------------+
double LotsOptimized()
{
double lot=Lots;
int orders=HistoryTotal(); // history orders total
int losses=0; // number of losses orders without a break
//---- select lot size
lot=NormalizeDouble(AccountFreeMargin()*MaximumRisk/1000.0,1);
//---- calcuulate number of losses orders without a break
if(DecreaseFactor>0)
{
for(int i=orders-1;i>=0;i--)
{
if(OrderSelect(i,SELECT_BY_POS,MODE_HISTORY)==false) { Print("Error in history!"); break; }
if(OrderSymbol()!=Symbol() || OrderType()>OP_SELL) continue;
//----
if(OrderProfit()>0) break;
if(OrderProfit()<0) losses++;
}
if(losses>1) lot=NormalizeDouble(lot-lot*losses/DecreaseFactor,1);
}
//---- return lot size
if(lot<0.1) lot=0.1;
return(lot);
}
int start()
{
int p=0;p=EnvelopePeriod;
int etf=0;etf=EnvTimeFrame;
int mam=0;mam=EnvMaMethod;
double d=0;d=EnvelopeDeviation;
double btp1,btp2,btp3,stp1,stp2,stp3;
double bline=0,sline=0,ma=0;
int cnt, ticket, total;
ma=iMA(NULL,etf,p,0,mam,PRICE_CLOSE,0);
bline=iEnvelopes(NULL,etf,p,mam,0,PRICE_CLOSE,d,MODE_UPPER,0);
sline=iEnvelopes(NULL,etf,p,mam,0,PRICE_CLOSE,d,MODE_LOWER,0);
total=OrdersTotal();
if(OrdersTotal()==0)
{b1=0;b2=0;b3=0;s1=0;s2=0;s3=0;}
if(OrdersTotal()>0)
{
//Print("Total Orders:",OrdersTotal());
for(cnt=0;cnt<total;cnt++)
{
OrderSelect(cnt,SELECT_BY_POS,MODE_TRADES);
if(OrderMagicNumber()==2)
{b1=OrderTicket(); }
if(OrderMagicNumber()==4)
{b2=OrderTicket(); }
if(OrderMagicNumber()==6)
{b3=OrderTicket(); }
if(OrderMagicNumber()==1)
{s1=OrderTicket(); }
if(OrderMagicNumber()==3)
{s2=OrderTicket(); }
if(OrderMagicNumber()==5)
{s3=OrderTicket(); }
}
}
//Print(b1," ",b2," ",b3," ",s1," ",s2," ",s3);
if(b1==0)
{
if(Hour()>TimeOpen && Hour()<TimeClose)
{
if(bline>Close[0] && sline<Close[0])
{
btp1=(NormalizeDouble(bline,4))+(FirstTP*Point);
ticket=OrderSend(Symbol(),
OP_BUYSTOP,
LotsOptimized(),
(NormalizeDouble(bline,4)),
0,
(NormalizeDouble(sline,4)),
btp1,
"",
2,
TimeClose,
Aqua);
if(ticket>0)
{
if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
{
b1=ticket;
Print(ticket);
}
else Print("Error Opening BuyStop Order: ",GetLastError());
return(0);
}
}
}
}
if(b2==0)
{
if(Hour()>TimeOpen && Hour()<TimeClose)
{
if(bline>Close[0] && sline<Close[0])
{
btp2=(NormalizeDouble(bline,4))+(SecondTP*Point);
ticket=OrderSend(Symbol(),
OP_BUYSTOP,
LotsOptimized(),
(NormalizeDouble(bline,4)),
0,
(NormalizeDouble(sline,4)),
btp2,
"",
4,
TimeClose,
Aqua);
if(ticket>0)
{
if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
{
b2=ticket;
Print(ticket);
}
else Print("Error Opening BuyStop Order: ",GetLastError());
return(0);
}
}
}
}
if(b3==0)
{
if(Hour()>TimeOpen && Hour()<TimeClose)
{
if(bline>Close[0] && sline<Close[0])
{
btp3=(NormalizeDouble(bline,4))+(ThirdTP*Point);
ticket=OrderSend(Symbol(),
OP_BUYSTOP,
LotsOptimized(),
(NormalizeDouble(bline,4)),
0,
(NormalizeDouble(sline,4)),
btp3,
"",
6,
TimeClose,
Aqua);
if(ticket>0)
{
if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
{
b3=ticket;
Print(ticket);
}
else Print("Error Opening BuyStop Order: ",GetLastError());
return(0);
}
}
}
}
if(s1==0)
{
if(Hour()>TimeOpen && Hour()<TimeClose)
{
if(bline>Close[0] && sline<Close[0])
{
stp1=NormalizeDouble(sline,4)-(FirstTP*Point);
ticket=OrderSend(Symbol(),
OP_SELLSTOP,
LotsOptimized(),
(NormalizeDouble(sline,4)),
0,
(NormalizeDouble(bline,4)),
stp1,
"",
1,
TimeClose,
HotPink);
if(ticket>0)
{
if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
{
s1=ticket;
Print(ticket);
}
else Print("Error Opening SellStop Order: ",GetLastError());
return(0);
}
}
}
}
if(s2==0)
{
if(Hour()>TimeOpen && Hour()<TimeClose)
{
if(bline>Close[0] && sline<Close[0])
{
stp2=NormalizeDouble(sline,4)-(SecondTP*Point);
ticket=OrderSend(Symbol(),
OP_SELLSTOP,
LotsOptimized(),
(NormalizeDouble(sline,4)),
0,
(NormalizeDouble(bline,4)),
stp2,
"",
3,
TimeClose,
HotPink);
if(ticket>0)
{
if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
{
s2=ticket;
Print(ticket);
}
else Print("Error Opening SellStop Order: ",GetLastError());
return(0);
}
}
}
}
if(s3==0)
{
if(Hour()>TimeOpen && Hour()<TimeClose)
{
if(bline>Close[0] && sline<Close[0])
{
stp3=NormalizeDouble(sline,4)-(ThirdTP*Point);
ticket=OrderSend(Symbol(),
OP_SELLSTOP,
LotsOptimized(),
(NormalizeDouble(sline,4)),
0,
(NormalizeDouble(bline,4)),
stp3,
"",
5,
TimeClose,
HotPink);
if(ticket>0)
{
if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
{
s3=ticket;
Print(ticket);
}
else Print("Error Opening SellStop Order: ",GetLastError());
return(0);
}
}
}
}
for(cnt=0;cnt<total;cnt++)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if(OrderType()==OP_BUY)
{
if(MaElineTSL==0) {TSL=NormalizeDouble(ma,4); }
if(MaElineTSL==1) {TSL=NormalizeDouble(sline,4); }
if(Close[0]>OrderOpenPrice())
{
if((Close[0]>bline) && (TSL>OrderStopLoss()))
{
double bsl;bsl=TSL;
OrderModify(OrderTicket(),
OrderOpenPrice(),
bsl,
OrderTakeProfit(),
0,//Order expiration server date/time
Green);
Sleep(10000);
return(0);
}
}
}
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if(OrderType()==OP_SELL)
{
if(MaElineTSL==0) {TSL=NormalizeDouble(ma,4); }
if(MaElineTSL==1) {TSL=NormalizeDouble(bline,4); }
if(Close[0]<OrderOpenPrice())
{
if((Close[0]<sline) && (TSL<OrderStopLoss()))
{
double ssl;ssl=TSL;
OrderModify(OrderTicket(),
OrderOpenPrice(),
ssl,
OrderTakeProfit(),
0,//Order expiration server date/time
Red);
Sleep(10000);
return(0);
}
}
}
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if(Hour()==TimeClose && OrderType()==OP_BUYSTOP)
{
OrderDelete(OrderTicket());
if(OrderTicket()==b1) {b1=0; return;}
if(OrderTicket()==b2) {b2=0; return;}
if(OrderTicket()==b3) {b3=0; return;}
}
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if(Hour()==TimeClose && OrderType()==OP_SELLSTOP)
{
OrderDelete(OrderTicket());
if(OrderTicket()==s1) {s1=0; return;}
if(OrderTicket()==s2) {s2=0; return;}
if(OrderTicket()==s3) {s3=0; return;}
}
OrderSelect(b1,SELECT_BY_TICKET);
if(OrderClosePrice()>0) {b1=0;}
OrderSelect(b2,SELECT_BY_TICKET);
if(OrderClosePrice()>0) {b2=0;}
OrderSelect(b3,SELECT_BY_TICKET);
if(OrderClosePrice()>0) {b3=0;}
OrderSelect(s1,SELECT_BY_TICKET);
if(OrderClosePrice()>0) {s1=0;}
OrderSelect(s2,SELECT_BY_TICKET);
if(OrderClosePrice()>0) {s2=0;}
OrderSelect(s3,SELECT_BY_TICKET);
if(OrderClosePrice()>0) {s3=0;}
}
}Profitability Reports
EUR/USD
Jul 2025 - Sep 2025
39674.36
Total Trades
85
Won Trades
79
Lost trades
6
Win Rate
92.94 %
Expected payoff
319253.88
Gross Profit
27137262.40
Gross Loss
-684.00
Total Net Profit
27136578.40
-100%
-50%
0%
50%
100%
AUD/USD
Jul 2025 - Sep 2025
0.90
Total Trades
395
Won Trades
353
Lost trades
42
Win Rate
89.37 %
Expected payoff
-0.63
Gross Profit
2298.80
Gross Loss
-2546.00
Total Net Profit
-247.20
-100%
-50%
0%
50%
100%
GBP/USD
Oct 2024 - Jan 2025
0.87
Total Trades
583
Won Trades
546
Lost trades
37
Win Rate
93.65 %
Expected payoff
-0.96
Gross Profit
3641.90
Gross Loss
-4199.40
Total Net Profit
-557.50
-100%
-50%
0%
50%
100%
GBP/USD
Jul 2025 - Sep 2025
0.83
Total Trades
465
Won Trades
441
Lost trades
24
Win Rate
94.84 %
Expected payoff
-1.31
Gross Profit
3048.80
Gross Loss
-3658.00
Total Net Profit
-609.20
-100%
-50%
0%
50%
100%
USD/JPY
Jul 2025 - Sep 2025
0.78
Total Trades
536
Won Trades
508
Lost trades
28
Win Rate
94.78 %
Expected payoff
-1.27
Gross Profit
2346.97
Gross Loss
-3027.83
Total Net Profit
-680.86
-100%
-50%
0%
50%
100%
USD/CAD
Oct 2024 - Jan 2025
0.71
Total Trades
372
Won Trades
350
Lost trades
22
Win Rate
94.09 %
Expected payoff
-1.82
Gross Profit
1681.34
Gross Loss
-2358.32
Total Net Profit
-676.98
-100%
-50%
0%
50%
100%
NZD/USD
Jul 2025 - Sep 2025
0.71
Total Trades
375
Won Trades
326
Lost trades
49
Win Rate
86.93 %
Expected payoff
-2.22
Gross Profit
2081.40
Gross Loss
-2914.00
Total Net Profit
-832.60
-100%
-50%
0%
50%
100%
NZD/USD
Oct 2024 - Jan 2025
0.64
Total Trades
318
Won Trades
264
Lost trades
54
Win Rate
83.02 %
Expected payoff
-3.03
Gross Profit
1718.80
Gross Loss
-2683.40
Total Net Profit
-964.60
-100%
-50%
0%
50%
100%
GBP/AUD
Jul 2025 - Sep 2025
0.59
Total Trades
427
Won Trades
404
Lost trades
23
Win Rate
94.61 %
Expected payoff
-2.94
Gross Profit
1788.16
Gross Loss
-3044.50
Total Net Profit
-1256.34
-100%
-50%
0%
50%
100%
USD/CAD
Jul 2025 - Sep 2025
0.53
Total Trades
253
Won Trades
235
Lost trades
18
Win Rate
92.89 %
Expected payoff
-3.96
Gross Profit
1149.23
Gross Loss
-2150.20
Total Net Profit
-1000.97
-100%
-50%
0%
50%
100%
GBP/CAD
Jul 2025 - Sep 2025
0.25
Total Trades
178
Won Trades
150
Lost trades
28
Win Rate
84.27 %
Expected payoff
-12.06
Gross Profit
727.72
Gross Loss
-2874.34
Total Net Profit
-2146.62
-100%
-50%
0%
50%
100%
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