Okay, here's a breakdown of what this script does, explained simply and without technical jargon:
This script is designed to automatically trade on the financial markets using the MetaTrader platform. It's like a robot that follows a set of rules to decide when to buy or sell, and when to close those trades.
Here's a step-by-step look at its logic:
-
Setup:
- First, it sets up some basic information, like a "magic number" (used to identify trades made by this specific script), whether to send email alerts, and the amount of money to risk on each trade ("Lots").
- It also defines parameters for managing risk: whether to use a "stop loss" (an automatic exit if the trade goes against you by a certain amount), a "take profit" (an automatic exit when the trade reaches a desired profit level), and a "trailing stop" (a stop loss that moves with the price to lock in profits).
-
Monitoring the Market:
- The script continuously looks at the price data of a particular financial instrument (like a currency pair).
- It uses several built-in indicators to help determine potential buy or sell signals. These indicators are like mathematical formulas that analyze price patterns and provide clues about where the price might go next. These Indicators are: Moving Averages, Stochastic Oscillator, and Relative Strength Index (RSI).
-
Decision Making (Buy/Sell Signals):
- The script has specific rules, based on the indicators mentioned above, that trigger buy or sell signals. For example, it might say "If the Stochastic Oscillator is below a certain level AND the RSI is below a certain level AND the current price is above a moving average, then generate a BUY signal".
- There are sets of rules based on various indicators. These indicators are compared to preset values to identify buy or sell opportunities.
-
Managing Existing Trades:
- Before placing a new trade, the script checks if it already has an open trade on the same financial instrument.
- If there's an existing "buy" trade, it checks if certain conditions are met to close the trade (take profit or cut losses). If conditions are met, the trade will automatically close. It uses RSI and the Stochastic Oscillator for this. It also manages the trailing stop if that feature is enabled.
- The same process is repeated for "sell" trades.
-
Placing Trades:
- If a buy or sell signal is generated and no trade is currently open, the script proceeds to place a new order.
- Before placing the order, it checks if there's enough money in the account to cover the trade.
- When placing the order, it includes the stop loss and take profit levels (if those features are enabled).
-
Email Alerts (Optional):
- If email alerts are turned on, the script will send an email when it opens or closes a trade, letting the user know what's happening.
-
Tick-by-Tick or Bar-by-Bar Analysis:
- The script can run either on every "tick" (the smallest price movement) or once per bar (a specific time interval on a chart, like 5 minutes or 1 hour). This is controlled by the
EachTickModesetting.
- The script can run either on every "tick" (the smallest price movement) or once per bar (a specific time interval on a chart, like 5 minutes or 1 hour). This is controlled by the
In essence, this script automates a trading strategy by continuously monitoring market data, applying a set of rules to identify trading opportunities, and then automatically placing and managing trades based on those rules.
Price Data Components
Orders Execution
Indicators Used
Miscellaneous
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//+----------------------------------------------------------------+
//| This MQL is generated by Expert Advisor Builder |
//| http://sufx.core.t3-ism.net/ExpertAdvisorBuilder/ |
//| |
//| In no event will author be liable for any damages whatsoever. |
//| Use at your own risk. |
//| |
//+------------------- DO NOT REMOVE THIS HEADER ------------------+
#define SIGNAL_NONE 0
#define SIGNAL_BUY 1
#define SIGNAL_SELL 2
#define SIGNAL_CLOSEBUY 3
#define SIGNAL_CLOSESELL 4
#property copyright "Expert Advisor Builder"
#property link "http://sufx.core.t3-ism.net/ExpertAdvisorBuilder/"
extern int MagicNumber = 0;
extern bool SignalMail = False;
extern bool EachTickMode = True;
extern double Lots = 0.1;
extern int Slippage = 3;
extern bool UseStopLoss = True;
extern int StopLoss = 400;
extern bool UseTakeProfit = True;
extern int TakeProfit = 1000;
extern bool UseTrailingStop = True;
extern int TrailingStop = 150;
int BarCount;
int Current;
bool TickCheck = False;
//+----------------------------------------------------------+
//| expert initialization function |
//+----------------------------------------------------------+
int init() {
BarCount = Bars;
if (EachTickMode) Current = 0; else Current = 1;
return(0);
}
//+----------------------------------------------------------+
//| expert deinitialization function |
//+----------------------------------------------------------+
int deinit() {
return(0);
}
//+----------------------------------------------------------+
//| expert start function |
//+----------------------------------------------------------+
int start() {
int Order = SIGNAL_NONE;
int Total, Ticket;
double StopLossLevel, TakeProfitLevel;
if (EachTickMode && Bars != BarCount) TickCheck = False;
Total = OrdersTotal();
Order = SIGNAL_NONE;
//+----------------------------------------------------------+
//| Variable Begin |
//+----------------------------------------------------------+
double Var1 = iMA(NULL, 0,576, 0, MODE_SMA, PRICE_CLOSE, Current + 0);
double Var2 = iStochastic(NULL, 0, 18, 12, 12, MODE_SMA, 0, MODE_MAIN,
Current + 0);
double Var3 = iRSI(NULL, 0, 18, PRICE_CLOSE, Current + 0);
double Buy1_1 = iStochastic(NULL, 0, 18, 12, 12, MODE_SMA, 0,
MODE_MAIN, Current + 0);
double Buy1_2 = 20;
double Buy2_1 = iOpen(NULL, 0, Current + 0);
double Buy2_2 = iMA(NULL, 0, 576, 0, MODE_SMA, PRICE_CLOSE, Current + 0);
double Buy3_1 = iRSI(NULL, 0, 18, PRICE_CLOSE, Current + 0);
double Buy3_2 = 30;
double Sell1_1 = iStochastic(NULL, 0, 18, 12, 12, MODE_SMA, 0,
MODE_MAIN, Current + 0);
double Sell1_2 = 80;
double Sell2_1 = iOpen(NULL, 0, Current + 0);
double Sell2_2 = iMA(NULL, 0, 576, 0, MODE_SMA, PRICE_CLOSE, Current + 0);
double Sell3_1 = iRSI(NULL, 0, 18, PRICE_CLOSE, Current + 0);
double Sell3_2 = 70;
double CloseBuy1_1 = iRSI(NULL, 0, 14, PRICE_CLOSE, Current + 0);
double CloseBuy1_2 = 70;
double CloseBuy2_1 = iStochastic(NULL, 0, 5, 3, 3, MODE_SMA, 0,
MODE_MAIN, Current + 0);
double CloseBuy2_2 = 80;
double CloseSell1_1 = iRSI(NULL, 0, 14, PRICE_CLOSE, Current + 0);
double CloseSell1_2 = 70;
double CloseSell2_1 = iStochastic(NULL, 0, 5, 3, 3, MODE_SMA, 0,
MODE_MAIN, Current + 0);
double CloseSell2_2 = 80;
//+----------------------------------------------------------+
//| Variable End |
//+----------------------------------------------------------+
//Check position
bool IsTrade = False;
for (int i = 0; i < Total; i ++) {
OrderSelect(i, SELECT_BY_POS, MODE_TRADES);
if(OrderType() <= OP_SELL && OrderSymbol() == Symbol()) {
IsTrade = True;
if(OrderType() == OP_BUY) {
//Close
//+----------------------------------------------------------+
//| Signal Begin(Exit Buy) |
//+----------------------------------------------------------+
if (CloseBuy1_1 >= CloseBuy1_2 && CloseBuy2_1 >=
CloseBuy2_2) Order = SIGNAL_CLOSEBUY;
//+----------------------------------------------------------+
//| Signal End(Exit Buy) |
//+----------------------------------------------------------+
if (Order == SIGNAL_CLOSEBUY && ((EachTickMode &&
!TickCheck) || (!EachTickMode && (Bars != BarCount)))) {
OrderClose(OrderTicket(), OrderLots(), Bid, Slippage,
MediumSeaGreen);
if (SignalMail) SendMail("[Signal Alert]", "[" +
Symbol() + "] " + DoubleToStr(Bid, Digits) + " Close Buy");
if (!EachTickMode) BarCount = Bars;
IsTrade = False;
continue;
}
//Trailing stop
if(UseTrailingStop && TrailingStop > 0) {
if(Bid - OrderOpenPrice() > Point * TrailingStop) {
if(OrderStopLoss() < Bid - Point * TrailingStop) {
OrderModify(OrderTicket(), OrderOpenPrice(), Bid
- Point * TrailingStop, OrderTakeProfit(), 0, MediumSeaGreen);
if (!EachTickMode) BarCount = Bars;
continue;
}
}
}
} else {
//Close
//+----------------------------------------------------------+
//| Signal Begin(Exit Sell) |
//+----------------------------------------------------------+
if (CloseSell1_1 <= CloseSell1_2 && CloseSell2_1
== CloseSell2_2) Order = SIGNAL_CLOSESELL;
//+----------------------------------------------------------+
//| Signal End(Exit Sell) |
//+----------------------------------------------------------+
if (Order == SIGNAL_CLOSESELL && ((EachTickMode &&
!TickCheck) || (!EachTickMode && (Bars != BarCount)))) {
OrderClose(OrderTicket(), OrderLots(), Ask, Slippage,
DarkOrange);
if (SignalMail) SendMail("[Signal Alert]", "[" +
Symbol() + "] " + DoubleToStr(Ask, Digits) + " Close Sell");
if (!EachTickMode) BarCount = Bars;
IsTrade = False;
continue;
}
//Trailing stop
if(UseTrailingStop && TrailingStop > 0) {
if((OrderOpenPrice() - Ask) > (Point * TrailingStop)) {
if((OrderStopLoss() > (Ask + Point * TrailingStop))
|| (OrderStopLoss() == 0)) {
OrderModify(OrderTicket(), OrderOpenPrice(), Ask
+ Point * TrailingStop, OrderTakeProfit(), 0, DarkOrange);
if (!EachTickMode) BarCount = Bars;
continue;
}
}
}
}
}
}
//+----------------------------------------------------------+
//| Signal Begin(Entry) |
//+----------------------------------------------------------+
if (Buy1_1 <= Buy1_2 && Buy2_1 >= Buy2_2 && Buy3_1 <= Buy3_2) Order
= SIGNAL_BUY;
if (Sell1_1 >= Sell1_2 && Sell2_1 <= Sell2_2 && Sell3_1 >= Sell3_2)
Order = SIGNAL_SELL;
//+----------------------------------------------------------+
//| Signal End |
//+----------------------------------------------------------+
//Buy
if (Order == SIGNAL_BUY && ((EachTickMode && !TickCheck) ||
(!EachTickMode && (Bars != BarCount)))) {
if(!IsTrade) {
//Check free margin
if (AccountFreeMargin() < (1000 * Lots)) {
Print("We have no money. Free Margin = ",
AccountFreeMargin());
return(0);
}
if (UseStopLoss) StopLossLevel = Ask - StopLoss * Point; else
StopLossLevel = 0.0;
if (UseTakeProfit) TakeProfitLevel = Ask + TakeProfit *
Point; else TakeProfitLevel = 0.0;
Ticket = OrderSend(Symbol(), OP_BUY, Lots, Ask, Slippage,
StopLossLevel, TakeProfitLevel, "Buy(#" + MagicNumber + ")",
MagicNumber, 0, DodgerBlue);
if(Ticket > 0) {
if (OrderSelect(Ticket, SELECT_BY_TICKET, MODE_TRADES)) {
Print("BUY order opened : ", OrderOpenPrice());
if (SignalMail) SendMail("[Signal Alert]", "[" +
Symbol() + "] " + DoubleToStr(Ask, Digits) + " Open Buy");
} else {
Print("Error opening BUY order : ", GetLastError());
}
}
if (EachTickMode) TickCheck = True;
if (!EachTickMode) BarCount = Bars;
return(0);
}
}
//Sell
if (Order == SIGNAL_SELL && ((EachTickMode && !TickCheck) ||
(!EachTickMode && (Bars != BarCount)))) {
if(!IsTrade) {
//Check free margin
if (AccountFreeMargin() < (1000 * Lots)) {
Print("We have no money. Free Margin = ",
AccountFreeMargin());
return(0);
}
if (UseStopLoss) StopLossLevel = Bid + StopLoss * Point; else
StopLossLevel = 0.0;
if (UseTakeProfit) TakeProfitLevel = Bid - TakeProfit *
Point; else TakeProfitLevel = 0.0;
Ticket = OrderSend(Symbol(), OP_SELL, Lots, Bid, Slippage,
StopLossLevel, TakeProfitLevel, "Sell(#" + MagicNumber + ")",
MagicNumber, 0, DeepPink);
if(Ticket > 0) {
if (OrderSelect(Ticket, SELECT_BY_TICKET, MODE_TRADES)) {
Print("SELL order opened : ", OrderOpenPrice());
if (SignalMail) SendMail("[Signal Alert]", "[" +
Symbol() + "] " + DoubleToStr(Bid, Digits) + " Open Sell");
} else {
Print("Error opening SELL order : ", GetLastError());
}
}
if (EachTickMode) TickCheck = True;
if (!EachTickMode) BarCount = Bars;
return(0);
}
}
if (!EachTickMode) BarCount = Bars;
return(0);
}
//+----------------------------------------------------------+
Profitability Reports
USD/CAD
Jul 2025 - Sep 2025
0.00
Total Trades
3
Won Trades
3
Lost trades
0
Win Rate
100.00 %
Expected payoff
12.89
Gross Profit
38.68
Gross Loss
0.00
Total Net Profit
38.68
-100%
-50%
0%
50%
100%
NZD/USD
Jul 2025 - Sep 2025
0.25
Total Trades
6
Won Trades
2
Lost trades
4
Win Rate
33.33 %
Expected payoff
-12.02
Gross Profit
23.50
Gross Loss
-95.60
Total Net Profit
-72.10
-100%
-50%
0%
50%
100%
GBP/USD
Jul 2025 - Sep 2025
6.45
Total Trades
13
Won Trades
12
Lost trades
1
Win Rate
92.31 %
Expected payoff
16.78
Gross Profit
258.10
Gross Loss
-40.00
Total Net Profit
218.10
-100%
-50%
0%
50%
100%
GBP/CAD
Jul 2025 - Sep 2025
0.64
Total Trades
2
Won Trades
1
Lost trades
1
Win Rate
50.00 %
Expected payoff
-5.20
Gross Profit
18.52
Gross Loss
-28.92
Total Net Profit
-10.40
-100%
-50%
0%
50%
100%
GBP/AUD
Jul 2025 - Sep 2025
0.00
Total Trades
3
Won Trades
3
Lost trades
0
Win Rate
100.00 %
Expected payoff
13.11
Gross Profit
39.33
Gross Loss
0.00
Total Net Profit
39.33
-100%
-50%
0%
50%
100%
EUR/USD
Jul 2025 - Sep 2025
4741.24
Total Trades
1901
Won Trades
1900
Lost trades
1
Win Rate
99.95 %
Expected payoff
99.74
Gross Profit
189649.80
Gross Loss
-40.00
Total Net Profit
189609.80
-100%
-50%
0%
50%
100%
AUD/USD
Jul 2025 - Sep 2025
0.93
Total Trades
5
Won Trades
4
Lost trades
1
Win Rate
80.00 %
Expected payoff
-0.60
Gross Profit
37.00
Gross Loss
-40.00
Total Net Profit
-3.00
-100%
-50%
0%
50%
100%
USD/JPY
Jan 2025 - Jul 2025
0.80
Total Trades
45
Won Trades
32
Lost trades
13
Win Rate
71.11 %
Expected payoff
-1.53
Gross Profit
281.41
Gross Loss
-350.41
Total Net Profit
-69.00
-100%
-50%
0%
50%
100%
USD/CHF
Jan 2025 - Jul 2025
1.15
Total Trades
10
Won Trades
8
Lost trades
2
Win Rate
80.00 %
Expected payoff
1.41
Gross Profit
111.24
Gross Loss
-97.12
Total Net Profit
14.12
-100%
-50%
0%
50%
100%
USD/CAD
Jan 2025 - Jul 2025
0.61
Total Trades
12
Won Trades
7
Lost trades
5
Win Rate
58.33 %
Expected payoff
-4.69
Gross Profit
86.51
Gross Loss
-142.83
Total Net Profit
-56.32
-100%
-50%
0%
50%
100%
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