This script is designed to automatically trade on the Forex market based on specific rules and calculations. Here's how it works:
1. Initial Setup:
- Input Parameters: The script starts by defining several adjustable settings that the user can change, such as the size of trades ("Lots"), whether to use a trailing stop, and the specific days of the week to trade.
- Data Collection: It gathers information about the current market, including the current price of the currency pair, and historical price data from the last few days.
- Money Management: It can calculate the trade size dynamically based on account balance and risk parameters, or use a fixed lot size
2. Daily Trading Logic:
- Time Check: The script is designed to primarily act within a certain time window each day defined by the user's time zone, and start time which is 00:00 by default.
- Order Management: At the start of a new trading day (within its defined time window) it deletes any pending orders set from the day(s) before, it also closes any trades older than TradePeriod number of days.
- Trading Decision:
- The script calculates the average price movement ("range") of the currency pair over a user defined number of past days.
- Using these averages, it calculates potential buy and sell prices based on percentages set by the user.
- Order Placement:
- Based on the calculated buy and sell prices, the script attempts to place "Buy Stop" and "Sell Stop" orders. These are orders to automatically buy or sell the currency if the price reaches a certain level.
- The script also sets initial stop-loss levels for these orders, which are designed to limit potential losses.
- Trade Day Control: Script will only try to open BuyStop and SellStop orders if the Day Of Week corresponds to the days chosen by the user.
3. Ongoing Trade Management:
- Order Monitoring: Throughout the trading day, the script monitors any open orders.
- Extra Order Deletion: If there are open buy orders when a sell stop order triggers, the script deletes the extra sell order to avoid conflict and vice-versa.
- Break-Even Stop: As a trade becomes profitable, the script can move the stop-loss order to the "break-even" point (the price at which the trade was opened), plus a small buffer. This protects the initial investment.
- Trailing Stop: If enabled, the script continuously adjusts the stop-loss order as the price moves in a favorable direction. This helps to lock in profits while still allowing the trade to potentially gain more.
- Closing Trades by Time: The script will also close trades older than a user defined number of days (TradePeriod).
In Summary:
The script is an automated trading system that attempts to profit from short-term price fluctuations in the Forex market. It places pending orders based on historical price ranges, manages risk through stop-loss orders, and aims to maximize profits through break-even and trailing stop mechanisms. It also gives the user a great level of control by defining what days of the week it must trade.
//+------------------------------------------------------------------+
//| TradersPowerExpert_v1.mq4 |
//| Copyright © 2006, Forex-TSD.com |
//| Written by IgorAD,igorad2003@yahoo.co.uk |
//| http://finance.groups.yahoo.com/group/TrendLaboratory |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, Forex-TSD.com "
#property link "http://www.forex-tsd.com/"
#include <stdlib.mqh>
//#include <Tracert.mqh>
//---- input parameters
extern string Expert_Name = "---- TradersPowerExpert_v1 ----";
extern int Magic=1007;
extern int Slippage=6;
extern bool Trace = false; // Trace Switch
extern string Main_Parameters = " Trade Volume & Trade Method";
extern double Lots = 1;
extern bool TrailingStop = false; // Trailing Stop Switch
extern bool InitialStop = true; // Initial Stop Switch
extern int TimeZone = 0;
extern string Data = " Input Data ";
extern int TradersPeriod = 4;
extern double BuyPercent = 120; // Percent from Daily Range for BUY
extern double SellPercent = 220; // Percent from Daily Range for SELL
extern double StopPercent = 260; // Percent from Daily Range for StopLoss
extern int TradePeriod = 5; // Max days in trade
extern double BreakEven = 85; // BreakEven Level in pips
extern double BreakEvenGap = 8; // Pips when BreakEven will be reached
extern string Trade = " Trade Days of Week";
extern int Monday = 1; // Day of the Week for Trade
extern int Tuesday = 1;
extern int Wednesday = 1;
extern int Thursday = 1;
extern int Friday = 1;
extern string MM_Parameters = " MoneyManagement by L.Williams ";
extern bool MM=false; // ÌÌ Switch
extern double MMRisk=0.1; // Risk Factor
extern double LossMax=1466; // Maximum Loss by 1 Lot
int i,k,cnt=0, ticket, mode=0, digit=0, wenum=0, OrderOpenDay, Kz;
double high,low, close[], open, range, Bulls,Bears,
AvgBulls,AvgBears, SumBulls,SumBears,TodayOpen,spread=0, Profit=0;
double smin=0, smax=0, BuyStop=0, SellStop=0, Lotsi=0, rates_h1[][6];
bool BuyInTrade=false, SellInTrade=false;
datetime StartTime, prevwe=0;
//+------------------------------------------------------------------+
//| expert initialization function |
//+------------------------------------------------------------------+
int init()
{
//----
//----
return(0);
}
// ---- Money Management
double MoneyManagement ( bool flag, double Lots, double risk, double maxloss)
{
double Lotsi=Lots;
if ( flag ) Lotsi=NormalizeDouble(Lots*AccountFreeMargin()*risk/maxloss,1);
if (Lotsi<0.1) Lotsi=0.1;
return(Lotsi);
}
// Closing of Pending Orders
void PendOrdDel()
{
int total=OrdersTotal();
for (int cnt=total-1;cnt>=0;cnt--)
{
OrderSelect(cnt, SELECT_BY_POS,MODE_TRADES);
if ( OrderSymbol()==Symbol() && OrderMagicNumber()==Magic )
{
int mode=OrderType();
bool result = false;
switch(mode)
{
case OP_BUYSTOP : {result = OrderDelete( OrderTicket() ); Print(" PendBUY"); }
case OP_SELLSTOP : {result = OrderDelete( OrderTicket() ); Print(" PendSELL"); }
if(!result)
{
Print("OrderSend failed with error #",GetLastError());
return(0);
}
//Print(" cnt=",cnt, " total=",total," MODE = ",mode," Ticket=",OrderTicket() );
}
}
}
return;
}
//
void CloseOrdbyTime()
{
int total=OrdersTotal();
for (cnt=0;cnt<total;cnt++)
{
OrderSelect(cnt, SELECT_BY_POS);
mode=OrderType();
if ( mode <= OP_SELL && OrderSymbol()==Symbol() && OrderMagicNumber()==Magic)
{
datetime OpenTime=StrToTime(TimeToStr(OrderOpenTime(),TIME_DATE));
datetime CurnTime=StrToTime(TimeToStr(CurTime(),TIME_DATE));
int weekday=TimeDayOfWeek(OrderOpenTime());
if (weekday <=5 && DayOfWeek()==1 && CurnTime > prevwe && CurnTime > OpenTime) {wenum =wenum + 1; prevwe = CurnTime;}
//if (OrderOpenDay <= 5 && DayOfWeek()>0)
int CalcBars=TradePeriod+2*wenum;
//else CalcBars=TradePeriod;
if ((CurTime()-OpenTime)>=PERIOD_D1*CalcBars*60 || OrderProfit()>0)
{
if (mode==OP_BUY )
OrderClose(OrderTicket(),OrderLots(),Bid,Slippage,Yellow);
if (mode==OP_SELL)
OrderClose(OrderTicket(),OrderLots(),Ask,Slippage,White);
}
}
}
}
// ----
void TrailStops()
{
int total=OrdersTotal();
for (cnt=0;cnt<total;cnt++)
{
OrderSelect(cnt, SELECT_BY_POS);
mode=OrderType();
if ( OrderSymbol()==Symbol() && OrderMagicNumber()==Magic )
{
if ( mode==OP_BUY && smin > OrderStopLoss() )
{
Profit=0;
OrderModify(OrderTicket(),OrderOpenPrice(),smin,Profit,0,LightGreen);
return(0);
}
if ( mode==OP_SELL && smax < OrderStopLoss())
{
Profit=0;
OrderModify(OrderTicket(),OrderOpenPrice(),smax,Profit,0,Yellow);
return(0);
}
}
}
}
void SellOrdOpen()
{
double SellPrice=TodayOpen - AvgBears * SellPercent/100.0 - spread;
if (InitialStop) SellStop=SellPrice + StopPercent*AvgBears/100.0; else SellStop=0;
Profit=0;
ticket = OrderSend(Symbol(),OP_SELLSTOP,Lotsi,
NormalizeDouble(SellPrice,digit),
Slippage,
NormalizeDouble(SellStop,digit),
Profit,"SELL",Magic,0,Red);
OrderOpenDay = DayOfWeek();
SellInTrade=false;
Kz=1;
if(ticket<0)
{
Print("OrderSend failed with error #",GetLastError());
return(0);
}
}
void BuyOrdOpen()
{
double BuyPrice =TodayOpen + AvgBulls*BuyPercent/100.0 + spread;
if (InitialStop) BuyStop = BuyPrice - StopPercent*AvgBulls/100.0; else BuyStop=0;
Profit=0;
ticket = OrderSend(Symbol(),OP_BUYSTOP ,Lotsi,
NormalizeDouble(BuyPrice ,digit),
Slippage,
NormalizeDouble(BuyStop ,digit),
Profit,"BUY",Magic,0,Blue);
OrderOpenDay = DayOfWeek();
BuyInTrade=false;
Kz=1;
if(ticket<0)
{
Print("OrderSend failed with error #",GetLastError());
return(0);
}
}
void ExtraOrdDel()
{
int total = OrdersTotal();
for (cnt=0;cnt<total;cnt++)
{
OrderSelect(cnt, SELECT_BY_POS);
mode=OrderType();
if ( OrderSymbol()==Symbol() && OrderMagicNumber()==Magic )
{
if (mode==OP_BUY && !BuyInTrade ) BuyInTrade =true;
if (mode==OP_SELL && !SellInTrade) SellInTrade=true;
if (mode == OP_SELLSTOP && BuyInTrade )
{ OrderDelete(OrderTicket()); SellInTrade=false; Print(" ExtraSell"); }
if (mode == OP_BUYSTOP && SellInTrade )
{ OrderDelete(OrderTicket()); BuyInTrade=false; Print(" ExtraBuy"); }
}
}
}
// ---- Scan Trades
int ScanTrades()
{
int total = OrdersTotal();
int numords = 0;
for(cnt=0; cnt<total; cnt++)
{
OrderSelect(cnt, SELECT_BY_POS);
if(OrderSymbol() == Symbol() && OrderType()>=OP_BUY && OrderMagicNumber() == Magic)
numords++;
}
return(numords);
}
datetime OrderOpenDate()
{
int total = OrdersTotal();
datetime date;
for(cnt=0; cnt<total; cnt++)
{
OrderSelect(cnt, SELECT_BY_POS);
if(OrderSymbol() == Symbol() && OrderType()>=OP_BUY && OrderMagicNumber() == Magic)
date = StrToTime(TimeToStr(OrderOpenTime(),TIME_DATE));
}
return(date);
}
void BreakEvenStop()
{
for (cnt=0;cnt<OrdersTotal();cnt++)
{
OrderSelect(cnt, SELECT_BY_POS);
int mode=OrderType();
if ( OrderSymbol()==Symbol() && OrderMagicNumber()==Magic)
{
if ( mode==OP_BUY )
{
if ( Bid-OrderOpenPrice() > 0 )
{Kz = MathFloor((Bid-OrderOpenPrice())/(BreakEven*Point));
if (Kz < 1) Kz=1;}
else Kz = 1;
// Print(" Buy Kz=",Kz);
//BuyStop = OrderStopLoss();
if (Bid-OrderOpenPrice() > Kz*BreakEven*Point)
{
BuyStop=OrderOpenPrice()+((Kz-1)*BreakEven+BreakEvenGap)*Point;
OrderModify(OrderTicket(),OrderOpenPrice(),
NormalizeDouble(BuyStop, digit),
OrderTakeProfit(),0,LightBlue);
//Kz=Kz+1;
return(0);
}
}
if ( mode==OP_SELL )
{
if ( OrderOpenPrice()-Ask > 0 )
{Kz = MathFloor((OrderOpenPrice()-Ask)/(BreakEven*Point));
if (Kz < 1) Kz=1;}
else Kz = 1;
// Print(" Sell Kz=",Kz);
//SellStop = OrderStopLoss();
if (OrderOpenPrice()-Ask > Kz*BreakEven*Point)
{
SellStop=OrderOpenPrice()-((Kz-1)*BreakEven+BreakEvenGap)*Point;
OrderModify(OrderTicket(),OrderOpenPrice(),
NormalizeDouble(SellStop, digit),
OrderTakeProfit(),0,Orange);
//DrawStops("SellStop",SellStop,Orange);
//Kz=Kz+1;
return(0);
}
}
}
}
}
//+------------------------------------------------------------------+
//| expert deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert start function |
//+------------------------------------------------------------------+
int start()
{
if(Bars < 1) {Print("Not enough bars for this strategy"); return(0);}
//if ( Trace ) SetTrace();
string TimeTrade = "00:00";
StartTime = StrToTime(TimeTrade) + TimeZone*3600;
if(Hour() >= TimeZone && Hour() <= TimeZone+1)
{
if ( OrderOpenDate() < StrToTime(TimeToStr( StartTime,TIME_DATE)))
{ PendOrdDel(); if( TradePeriod > 0 )CloseOrdbyTime(); }
if(ScanTrades()<1)
{
spread= MarketInfo(Symbol(),MODE_SPREAD)*Point;
digit = MarketInfo(Symbol(),MODE_DIGITS);
Lotsi = MoneyManagement ( MM, Lots, MMRisk, LossMax);
if (TrailingStop) InitialStop=true;
ArrayCopyRates(rates_h1, Symbol(), PERIOD_H1);
TodayOpen = rates_h1[0][1];
SumBulls=0;SumBears=0;
for (k=TradersPeriod;k>=1;k--)
{
open = rates_h1[k*24][1];
high=0; low=10000000;
for (i=24;i>=1;i--)
{
high = MathMax( high, rates_h1[i+(k-1)*24][3]);
low = MathMin( low , rates_h1[i+(k-1)*24][2]);
}
range =(high-low);
Bulls = high - open;
Bears = open - low;
SumBulls += Bulls;
SumBears += Bears;
//Print(" Bulls=",high,"Bears=",low);
}
AvgBulls = SumBulls/TradersPeriod;
AvgBears = SumBears/TradersPeriod;
//Print(" high=",AvgBulls,"low=",AvgBears);
smin = Bid - StopPercent*AvgBears/100.0;
smax = Ask + StopPercent*AvgBulls/100.0;
if ( Monday == 1 ) if(DayOfWeek()==1){BuyOrdOpen(); SellOrdOpen();}
if ( Tuesday == 1 ) if(DayOfWeek()==2){BuyOrdOpen(); SellOrdOpen();}
if ( Wednesday== 1 ) if(DayOfWeek()==3){BuyOrdOpen(); SellOrdOpen();}
if ( Thursday == 1 ) if(DayOfWeek()==4){BuyOrdOpen(); SellOrdOpen();}
if ( Friday == 1 ) if(DayOfWeek()==5){BuyOrdOpen(); SellOrdOpen();}
}
}
ExtraOrdDel();
if (BreakEven > 0) BreakEvenStop();
if (TrailingStop) TrailStops();
return(0);
}//int start
//+------------------------------------------------------------------+
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