This script is designed to automatically place buy and sell orders based on envelope indicators and time-based conditions. It also includes a trailing stop-loss feature to manage existing trades.
Here's a breakdown of its logic:
-
Setup:
- The script begins by getting configuration settings, like the time period for calculating the "envelope" indicator, the deviation for the upper and lower bands of the envelope, the timeframe for the analysis, the times for opening and closing new orders, specific profit targets, lot sizes, and risk parameters.
- It defines initial "ticket" numbers to keep track of the orders that it opens, and other parameters needed later for the trailing stop loss.
-
Lot Size Calculation:
- A special function is used to calculate the appropriate trade size (lots) based on the available money in the account and a risk percentage defined by the user.
- The script reduces the lot size if there are consecutive losing trades, aiming to limit further losses.
-
Envelope Indicators and Order Placement:
- The script determines the values of the upper and lower envelope bands using the specified settings. The envelope indicator essentially draws two lines above and below the price, which serves as zones to trade.
- The script identifies the current market price in relation to these envelope lines, and then calculates the target prices for potential orders based on the
FirstTP,SecondTP, andThirdTPvariables. - The script looks for specific conditions like the price being between the upper and lower envelope bands.
- The script will only place orders during a specific time window defined by
TimeOpenandTimeClose. - The script attempts to place three "Buy Stop" orders and three "Sell Stop" orders:
- Buy Stop Orders: Orders to buy if the price rises to a certain level. These are placed at the upper envelope band, with the expectation that the price will continue to increase.
- Sell Stop Orders: Orders to sell if the price falls to a certain level. These are placed at the lower envelope band, with the expectation that the price will continue to decrease.
- Each order has a specific profit target (
FirstTP,SecondTP,ThirdTP). - Each of the 6 orders created (3 buy and 3 sell) are assigned a specific ID, so it is able to find them and not place repeated orders.
-
Trailing Stop Loss:
- For existing buy or sell orders, the script implements a trailing stop loss. This means it automatically adjusts the stop loss order to protect profits as the price moves favorably.
- It checks if the current price is more profitable than the order's opening price. If so, it moves the stop loss level closer to the current price based on either:
- A moving average or
- The opposite envelope line.
- This helps to lock in gains and minimize potential losses.
-
Order Management:
- If the current hour is equal to the
TimeClosehour:- The script deletes any pending "Buy Stop" or "Sell Stop" orders, preventing them from being executed outside of the defined trading hours.
- Sets the order tickets to zero so it can create orders next run.
- The script also sets the order tickets to zero if an order of the same ticket has been closed.
- If the current hour is equal to the
Orders Execution
Indicators Used
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Envelope 2.1
/*-----------------------------+
| |
| 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 =240; //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 =0.85;
extern int TimeOpen =0;
extern int TimeClose =23;
extern double FirstTP =233.0;
extern double SecondTP =377.0;
extern double ThirdTP =610.0;
extern double Lots =0.1;
extern double MaximumRisk =0.02;
extern double DecreaseFactor =3;
extern int MaElineTSL =1;//0=iMA trailing stoploss 1=Opposite Envelope TSL
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());
//Print(b1," ",b2," ",b3," ",s1," ",s2," ",s3);
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(); }
}
}
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]>sline) && (TSL>OrderStopLoss()))
{
double bsl;bsl=TSL;
OrderModify(OrderTicket(),
OrderOpenPrice(),
bsl,
OrderTakeProfit(),
0,//Order expiration server date/time
Green);
Sleep(10000);
}
}
}
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]<bline) && (TSL<OrderStopLoss()))
{
double ssl;ssl=TSL;
OrderModify(OrderTicket(),
OrderOpenPrice(),
ssl,
OrderTakeProfit(),
0,//Order expiration server date/time
Red);
Sleep(10000);
}
}
}
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
USD/CAD
Oct 2024 - Jan 2025
19.89
Total Trades
41
Won Trades
38
Lost trades
3
Win Rate
92.68 %
Expected payoff
46.18
Gross Profit
1993.46
Gross Loss
-100.23
Total Net Profit
1893.23
-100%
-50%
0%
50%
100%
AUD/USD
Oct 2024 - Jan 2025
4.68
Total Trades
51
Won Trades
0
Lost trades
0
Win Rate
0.00 %
Expected payoff
50.26
Gross Profit
3259.20
Gross Loss
-696.00
Total Net Profit
2563.20
-100%
-50%
0%
50%
100%
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