Manual Trendline Trader
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Strategy Overview
The Manual Trendline Trader is a specialized trading tool designed to assist users in managing their risk and position sizing dynamically based on real-time account performance. Rather than simply executing trades at a fixed volume, the script intelligently calculates how much capital should be committed to a new trade by analyzing your recent trading history.
Core Logic and Functionality
The primary intelligence of this script lies in its Dynamic Lot Optimization. It evaluates three key components to determine your position size:
- Risk-Based Position Sizing: The tool looks at your available account margin and compares it against a predefined risk percentage. This ensures that the size of each trade is proportional to your current balance, helping to maintain consistent risk levels as your account grows or fluctuates.
- Loss Tracking and Mitigation: The script automatically scans your historical trading data to identify recent losing trades. If it detects a sequence of losses without a corresponding winning trade to break the cycle, it applies a "Decrease Factor." This logic proactively reduces your next trade size, acting as a safety mechanism to protect your capital during periods of unfavorable market conditions or personal trading errors.
- Safety Constraints: To ensure the tool remains within professional boundaries, it includes several hard-coded safeguards:
- Minimum Lot Floor: It ensures that even after calculations, the trade size never falls below a functional minimum (0.1), preventing the script from attempting to open invalid orders.
- Slippage and Trade Limits: The logic accounts for market volatility (slippage) and provides options to restrict trading frequency, such as limiting the system to a specific number of trades per day.
Key Features for Traders
- Automated Risk Management: Instead of manually calculating "lots" every time you want to enter a trade, the script handles the math for you based on your account's health.
- Adaptive Scaling: By reducing trade sizes after consecutive losses, the tool helps prevent "revenge trading"—a common pitfall where traders increase risk to recover lost funds quickly.
- Customizable Protections: Users can toggle features like Trailing Stops (to lock in profits as a price moves in their favor) and Trade Frequency Limits to maintain a disciplined trading routine.
In summary, this script serves as a sophisticated "risk copilot." It monitors your past performance and current balance to suggest the most prudent trade size, prioritizing capital preservation and consistent risk management over aggressive, manual volume selection.
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Manual Trendline Trader
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| Manual Trendline Trader.mq4 |
//| Copyright © 2005, MetaQuotes Software Corp. |
//| Copyright © 2005, tageiger as fxid10t |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "steve.cartwright@homecall.co.uk"//originator
#property copyright "tageiger fxid10t@yahoo.com" //modifier
#property link "http://www.metaquotes.net"
#property link "http://finance.groups.yahoo.com/group/MetaTrader_Experts_and_Indicators/"
#property link "http://www.forexnews.com"
extern double Lots =0.1;
extern double MaximumRisk =0.02;
extern double DecreaseFactor =3;
extern double Slippage =3;
extern int UseTrailingStop =0;//>0 enables trailing stop
extern double TrailingStop =20;
extern int OneTradePerDay =0;//>0 LIMITS(restricts) trades to ONE PER DAY
//+------------------------------------------------------------------+
//| expert initialization function |
//+------------------------------------------------------------------+
int init()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert start function |
//+------------------------------------------------------------------+
int start()
{
//----
//----
return(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);
}
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