This script functions as an automated trade assistant designed to manage active positions by dynamically adjusting "Stop Loss" levels. Rather than remaining static, it actively monitors the market price to protect profits or mitigate losses based on specific mathematical rules.
Core Functionality
The logic operates by constantly scanning all open trades and calculating several different potential Stop Loss positions simultaneously. It then selects the most favorable one to apply to the trade.
1. Dynamic Trailing Stops For every trade, the script maintains a baseline trailing stop. As the market moves in your favor, the script ensures that the protection level "follows" the price at a set distance. This prevents a winning trade from turning into a loss if the market suddenly reverses.
2. Proportional Profit Protection The script features an advanced "Proportional" logic. Once a trade reaches a specific pre-defined profit milestone, the assistant begins to calculate a Stop Loss that moves in direct proportion to your gains.
- Instead of just following the price at a fixed distance, it uses a multiplier (ratio).
- This means that as your profit grows larger, the "safety net" adjusts proportionally, effectively locking in a specific percentage of your gains while allowing the trade room to continue breathing.
3. The "Escape" Mechanism The script includes a safety feature for "misplaced" trades—positions that have moved against you and are reaching a level of significant risk.
- If the price drops beyond a specific threshold, the assistant can trigger an "Escape."
- This automatically modifies the trade to a very near target (or a "best-case scenario" exit), aiming to cut the losses quickly and exit the position as soon as the market makes even a minor positive movement.
4. Intelligent Selection Logic The script is designed to be cautious. For every buy or sell order, it calculates multiple different stop loss scenarios (various calculations for distance, ratios, and safety). It then compares these values:
- For Buy positions, it identifies the highest (best) safe stop loss among all calculated options.
- For Sell positions, it identifies the lowest (best) safe stop loss. It only updates the trade if the newly calculated "best" price is safer than the current one, ensuring that it never moves the protection in a way that would increase your risk.
Monitoring and Logging
To ensure transparency for the user, the script includes a comprehensive logging system. It records all calculations, modifications, and market conditions into external files. This allows you to review exactly why the assistant moved a stop loss at a specific moment, providing a clear audit trail of its automated decisions.
Orders Execution
Miscellaneous
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trade_protector-1.0
// trade assistant - to watch after SL's for your trades
// some ideas and code fragments: "S.Projects" - "cortex.snowcron.com"
extern int logging=1;
//logging=1 - if you want logs in Experts\Files directory
extern int nTrailingStop=35;
//nTrailingStop [pips] - initial trailing stop. It will be used until your trade will reach profit = nPropSLThreshold
extern int nPropSLThreshold=12;
//nPropSLThreshold [pips] - after reaching this profit proportional trailing stop will be used
extern double dPropSLRatio=0.35;
//dPropSLRatio [decimal] - multiplying factor ( PropSL = Profit * dPropSLRatio - Spred )
extern int nUseEscape=0;
//nUseEscape [ 1 or 0 ] - escape misplaced trades as soon as they reach some minimal profit
extern int nEscapeLevel=0;
//nEscapeLevel [pips] - lose size after which we want our trade to terminate
//as soon as it will reach next high
extern int nEscapeTP=35;
//nEscapeTP [pips] - take profit level in pips (you can set to negative value
//- then it will be a lose that you would be happy to get,
//in the case your trade reached some impressive negative pips value)
double dEscapeLevel;
double dStopLoss;
double dTrailingStop;
double dEscapeTP;
double dPropSLThreshold;
double dTakeProfit;
double dTakeProfitMin;
double dTakeProfitMax;
double dTakeProfitT;
int nBars, nSpread, nDigits, nBarsSameTrend, nCloseErr, nOpenErr, i;
double dDeltaPrice, dnBid, dnAsk, dSpread, dStopLevel, dMax, dMin, dMacdDelta, dMacd1, dMacd2;
// double dOldBalance, dNewBalance;
int nTakeProfitMax=100;
extern int nSlip = 2;
int nBarsSinceTrade=0;
string strExpert = "tp-1.0.0";
// ------
int init ()
{
nBars = Bars;
nSpread = MarketInfo(Symbol(), MODE_SPREAD);
dSpread = NormalizeDouble(nSpread * Point,4);
nDigits = MarketInfo(Symbol(), MODE_DIGITS);
dEscapeTP = NormalizeDouble(nEscapeTP * Point,4);
dEscapeLevel = nEscapeLevel * Point;
return(0);
}
// ------
int deinit()
{
return(0);
}
// ------
int start()
{
// ------
// to let MT rest a bit after new bar:
// Sleep(2500);
// RefreshRates();
dnBid=NormalizeDouble(Bid,nDigits);
dnAsk=NormalizeDouble(Ask,nDigits);
ModifyOrders();
// ------
return(0);
}
// ------
void ModifyOrders()
{
double dSl;
double arrSL[4];
double arrTP[4];
dTrailingStop = NormalizeDouble(nTrailingStop * Point,4);
dEscapeTP = NormalizeDouble(nEscapeTP * Point,4);
dPropSLThreshold = nPropSLThreshold * Point;
dSpread = MarketInfo(Symbol(),MODE_SPREAD) * Point;
dStopLevel = MarketInfo(Symbol(),MODE_STOPLEVEL) * Point;
for(int nCnt = 0; nCnt < OrdersTotal(); nCnt++)
{
OrderSelect(nCnt, SELECT_BY_POS, MODE_TRADES);
if(true) //(OrderMagicNumber() == nMagic)
{
if(OrderType() == OP_BUY)
{
dSl=OrderStopLoss();
if( dSl == 0 )
dSl = dnBid - dTrailingStop;
arrSL[0]=dSl;
arrSL[1]=dSl;
arrSL[2]=dSl;
arrSL[3]=dSl;
LogSL("OP_BUY-check",dSl,arrSL[0],arrSL[1],arrSL[2],arrSL[3]);
// if( Bid > OrderOpenPrice() + dMaSLDelta )
// arrSL[3]=OrderOpenPrice() + dMaSLDelta;
if( dPropSLRatio > 0 )
{
if( Bid > (OrderOpenPrice() + dPropSLThreshold) )
{
dSl = NormalizeDouble( OrderOpenPrice() + dPropSLRatio*(Bid - OrderOpenPrice()) - dSpread,4 );
if(OrderStopLoss() < dSl)
arrSL[1]=dSl;
}
}
if(Bid < OrderOpenPrice() + 4*dSpread )
{
arrSL[2]=dnBid - dTrailingStop;
}
dSl=arrSL[ArrayMaximum(arrSL)];
LogSL("OP_BUY - max",dSl,arrSL[0],arrSL[1],arrSL[2],arrSL[3]);
if( dSl > OrderStopLoss() || OrderStopLoss() == 0 )
{
OrderModify(OrderTicket(), OrderOpenPrice(),
dSl, OrderTakeProfit(), 0, Yellow);
Log("Buy - modify", 8888, 8888, 0, nBarsSameTrend, OrderOpenPrice(), dSl);
}
// Escape buy
//if( dEscape != 0 && dnBid < OrderOpenPrice() - dEscape - 5 * Point )
if( nUseEscape == 1 && dnBid < OrderOpenPrice() - dEscapeLevel - 5 * Point )
{
OrderModify(OrderTicket(), OrderOpenPrice(),
OrderStopLoss(), OrderOpenPrice() + dEscapeTP, 0, Aqua);
Log("Buy - EscapeLevel", 8888, 8888, 0, nBarsSameTrend, OrderOpenPrice(), dSl);
}
} // end OP_BUY
//////////////////////////////////////////////////////////////////////////////////////////////////
if(OrderType() == OP_SELL)
{
dSl=OrderStopLoss();
if( dSl == 0 )
dSl = dnAsk + dTrailingStop;
arrSL[0]=dSl;
arrSL[1]=dSl;
arrSL[2]=dSl;
arrSL[3]=dSl;
nBarsSinceTrade=GlobalVariableGet("tp-100-BarsSinceTrade") + 1;
GlobalVariableSet("tp-100-BarsSinceTrade",nBarsSinceTrade);
//if( nBarsSinceTrade >= 1 && nBarsSinceTrade < 3 )
// if( Ask < OrderOpenPrice() - dMaSLDelta )
// arrSL[3]=OrderOpenPrice() - dMaSLDelta;
if( dPropSLRatio > 0 )
{
if( Ask < (OrderOpenPrice() - dPropSLThreshold) )
{
dSl = NormalizeDouble( OrderOpenPrice() - dPropSLRatio*(OrderOpenPrice() - Ask) + dSpread,4 );
if( dSl < OrderStopLoss() )
arrSL[1]=dSl;
}
}
if( Ask > OrderOpenPrice() - 4*dSpread )
arrSL[2]=dnAsk + dTrailingStop + dSpread;
dSl=arrSL[ArrayMinimum(arrSL)];
//if( dSl == 0 )
// dSl = arrSL[0];
LogSL("OP_SELL - min",dSl,arrSL[0],arrSL[1],arrSL[2],arrSL[3]);
if( dSl < OrderStopLoss() || OrderStopLoss() == 0 )
{
OrderModify(OrderTicket(), OrderOpenPrice(),
dSl, OrderTakeProfit(), 0, Yellow);
Log("Sell - modify", 8888, 8888, 0, nBarsSameTrend, OrderOpenPrice(), dSl);
}
// Escape sell
//if( dEscape != 0 && dnAsk > OrderOpenPrice() + dEscape + 5 * Point )
if( nUseEscape == 1 && dnAsk > OrderOpenPrice() + dEscapeLevel + 5 * Point )
{
OrderModify(OrderTicket(), OrderOpenPrice(),
OrderStopLoss(), OrderOpenPrice() - dEscapeTP, 0, Aqua);
Log("Buy - EscapeLevel", 8888, 8888, 0, nBarsSameTrend, OrderOpenPrice(), dSl);
}
} // End OP_SELL
} //end if(OrderMagicNumber() == nMagic)
} //end for(int nCnt = 0; nCnt < OrdersTotal(); nCnt++)
} // end ModifyOrders()
//////////////////////////////////////////////////////////////////////////////////////////////////
void Log(string msg, double val1, double val2, double val3, double val4, double val5, double val6)
{
if(logging > 0 )
{
int handle;
handle=FileOpen("tp-100-log.txt",FILE_CSV|FILE_READ|FILE_WRITE,';');
if(handle<1)
{
Print("File tp-100-log.txt not found, the last error is ", GetLastError());
return(false);
}
FileSeek(handle, 0, SEEK_END);
//---- add data to the end of file
//FileWrite(handle, Year(), Month(), Day(), Hour(), Minute(), "Bid, Ask ", msg, Bid, Ask, "___", val1, val2, val3, val4, val5, val6);
FileWrite(handle, Year(), Month(), Day(), Hour(), Minute(), msg, Bid, Ask, 8888, "___", val1, val2, "___", val3, val4, "___", val5, val6);
FileClose(handle);
}
}
void LogSL(string msg, double val1, double val2, double val3, double val4, double val5)
{
if(logging > 0 )
{
int handle;
handle=FileOpen("tp-100-log-sl.txt",FILE_CSV|FILE_READ|FILE_WRITE,';');
if(handle<1)
{
Print("File tp-100-log-sl.txt not found, the last error is ", GetLastError());
return(false);
}
FileSeek(handle, 0, SEEK_END);
//---- add data to the end of file
FileWrite(handle, Year(), Month(), Day(), Hour(), Minute(), msg, Bid, Ask, val1, val2, val3, val4, val5);
FileClose(handle);
}
}
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