This script is designed to automatically execute trades on the MetaTrader platform based on a specific set of technical indicators. Here's how it works, in simple terms:
The script uses moving averages, which are like trend lines that smooth out price fluctuations over a period of time. It uses two moving averages: a faster one (reacts quickly to price changes) and a slower one (reacts more slowly).
The script also looks at momentum, which measures how quickly the price is changing.
The script watches for the following conditions:
-
Buy Signal: When the faster moving average crosses above the slower moving average, and the momentum is positive and increasing, it's considered a potential buying opportunity. The script looks at the current and previous values of these indicators to determine if this cross has occurred and if the momentum is indeed increasing. Additionally, the script has a "MomFilter", which needs to be exceeded by the momentum.
Before placing a buy order, the script first closes any existing sell orders. Then, it places a buy order with pre-defined parameters, including the amount to trade, slippage (tolerance for price changes), and a take-profit level (the price at which the order will automatically close for a profit).
-
Sell Signal: Conversely, when the faster moving average crosses below the slower moving average, and the momentum is negative and decreasing, it's considered a potential selling opportunity. The same "MomFilter" applies but on the negative side, and the momentum is expected to decrease below that threshold.
Before placing a sell order, the script closes any existing buy orders. It then places a sell order with similar parameters as the buy order, including a take-profit level.
The script also incorporates a mechanism to avoid placing orders on every single price tick. It checks whether a new bar has formed on the chart before evaluating the trading conditions. This helps prevent the script from overreacting to minor price fluctuations.
The script uses a "magic number" to identify its own trades, which allows it to manage and close only the orders that it has opened.
In summary, this script automatically monitors price trends and momentum, and enters buy or sell trades when specific conditions are met, aiming to profit from these movements while adhering to pre-set risk management parameters.
Profitability Reports
//+------------------------------------------------------------------+
//| Graal-FxProg_team.mq4 |
//| Rosh |
//| http://www.investo.ru/forum/viewtopic.php?t=124777 |
//+------------------------------------------------------------------+
#property copyright "Rosh"
#property link "http://www.investo.ru/forum/viewtopic.php?t=124777"
//---- input parameters
extern int FastPeriod=13;
extern int SlowPeriod=34;
extern int MomPeriod=14;
extern double MomFilter=0.1;
extern double PercentCapital=10.0;
extern double Lots=0.1;
extern int Slippage=3;
extern int StopLoss=20;
extern int TakeProfit=200;
extern int ExpertMagicNumber=2002;
int myBars;
//+------------------------------------------------------------------+
//| expert initialization function |
//+------------------------------------------------------------------+
int init()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert start function |
//+------------------------------------------------------------------+
int start()
{
int cnt;
double curFastMA=iMA(NULL,0,FastPeriod,0,MODE_EMA,PRICE_CLOSE,1);
double curSlowMA=iMA(NULL,0,SlowPeriod,0,MODE_EMA,PRICE_OPEN,1);
double prevFastMA=iMA(NULL,0,FastPeriod,0,MODE_EMA,PRICE_CLOSE,2);
double prevSlowMA=iMA(NULL,0,SlowPeriod,0,MODE_EMA,PRICE_OPEN,2);
double curMom=iMomentum(NULL,0,MomPeriod,PRICE_CLOSE,1)-100.0;
double prevMom=iMomentum(NULL,0,MomPeriod,PRICE_CLOSE,2)-100.0;
//----
if (Bars!=myBars)
{
myBars=Bars;
if (curFastMA>curSlowMA && prevFastMA<prevSlowMA && curMom>MomFilter && curMom>prevMom)
{
if (OrdersTotal()>0)
{
for (cnt=OrdersTotal()-1;cnt>=0;cnt--)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if (OrderType()==OP_SELL) {OrderClose(OrderTicket(),OrderLots(),Ask,Slippage,White);Sleep(30000);}
}
}
OrderSend(Symbol(),OP_BUY,Lots,Ask,Slippage,0,Ask+TakeProfit*Point,"buy",ExpertMagicNumber,0,Blue);
}
if (curFastMA<curSlowMA && prevFastMA>prevSlowMA && curMom<-MomFilter && curMom<prevMom)
{
if (OrdersTotal()>0)
{
for (cnt=OrdersTotal()-1;cnt>=0;cnt--)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if (OrderType()==OP_BUY) {OrderClose(OrderTicket(),OrderLots(),Bid,Slippage,White);Sleep(30000);}
}
}
OrderSend(Symbol(),OP_SELL,Lots,Bid,Slippage,0,Bid-TakeProfit*Point,"sell",ExpertMagicNumber,0,Red);
}
}
//----
return(0);
}
//+------------------------------------------------------------------+
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