TSD_MT4_MR_Trade_0_101
Download scriptThis automated trading script is designed to manage currency positions by identifying market trends and executing trades based on specific technical conditions. Below is a detailed breakdown of its logic in plain language:
Market Analysis Logic
The script uses a two-step verification process before deciding whether to enter a trade. It looks at two different types of technical indicators:
- Trend Direction: The system first determines the "momentum" of the market using either the MACD (Moving Average Convergence Divergence) or the OsMA indicator. By comparing current values against previous values on a weekly timeframe, it decides if the overall trend is moving upward (Bullish) or downward (Bearish).
- Entry Filter: Once a trend is established, the script applies a secondary filter to find an optimal entry point. It primarily uses the Williams Percent Range (WPR) indicator. This acts as a "gatekeeper" to ensure that the price isn't overextended before opening a position.
Trade Execution Strategy
The script does not enter the market instantly; instead, it uses Pending Orders (Buy Stops and Sell Stops).
- Buy Orders: If the trend is upward and the filter gives the "green light," the script places a Buy Stop order. This means the trade will only trigger if the price breaks above a specific high point reached in the previous day's trading session.
- Sell Orders: If the trend is downward and the filter allows it, the script places a Sell Stop order. This triggers if the price drops below a specific low point from the previous day's session.
Dynamic Trade Management
Once a trade is active or a pending order is waiting, the script actively manages the risk through several automated behaviors:
- Price Protection: It automatically calculates "Stop Loss" (to limit losses) and "Take Profit" (to secure gains) levels based on recent price extremes. If the market moves significantly against a pending order, the script can delete the order to protect your balance.
- Dynamic Adjustments: If market conditions change (such as a new daily high or low being formed), the script can modify existing pending orders to ensure they remain relevant to current price action.
- Trailing Stop: For trades that are already open and moving in a profitable direction, the script employs a "Trailing Stop." This means it follows the price upward (for buys) or downward (for sells), locking in profits as the market moves in your favor while giving the trade room to breathe.
Risk and Money Management
The script includes a built-in calculation engine to determine how much to trade based on your account status:
- Lot Sizing: It can automatically calculate the number of lots to trade based on your available margin, leverage, and desired risk levels.
- Safety Limits: It enforces a maximum lot size and checks for minimum margin requirements before opening any position to prevent over-leveraging the account.
- Spacing: To prevent "over-trading," the script includes a time buffer, ensuring it doesn't execute multiple trades in rapid succession on the same symbol.
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| TSD_MR_Trade_MACD_WPR_0_10.mq4 |
//| Copyright ® 2005 Bob O'Brien / Barcode |
//| TSD v1.2 rewritten to MQL4 and enhanced by Mindaugas |
//| magic number and backtesting mod by Nick Bilak |
//| TSD Trade version 0.10 |
//+------------------------------------------------------------------+
#property copyright "Copyright ® 2005 Bob O\'Brien / Barcode"
#include <stdlib.mqh>
#define MAGICNUM 20050720
#define DIRECTION_MACD 1
#define DIRECTION_OSMA 2
#define FILTER_WPR 1
#define FILTER_FORCE 2
// which indicators to use
int DirectionMode = DIRECTION_MACD, FilterMode = FILTER_WPR;
// trading periods
int PeriodDirection = PERIOD_W1, PeriodTrade = PERIOD_D1, PeriodTrailing = PERIOD_H4, CandlesTrailing = 3;
// currency pairs to trade
// parameters for iWPR and iForce indicators
int WilliamsP = 24, WilliamsL = -75, WilliamsH = -25;
int ForceP = 2;
int TakeProfit = 100, TrailingStop = 60;
int Slippage = 5, LotsMax = 50;
double Lots = 0.1;
int MM = 0, Leverage = 1, MarginChoke = 200;
string TradeSymbol;
int Pair = 0;
datetime LastTrade = 0;
double Spread, SPoint;
//+------------------------------------------------------------------+
int init() { return(0); }
int deinit() { return(0); }
//+------------------------------------------------------------------+
int start() {
int TradesThisSymbol, Direction;
int i, ticket;
bool okSell, okBuy;
double PriceOpen, Buy_Sl, Buy_Tp, LotMM, WilliamsValue;
string ValueComment;
if ( (LastTrade + 15) > CurTime() ) return(0);
TradeSymbol = Symbol();
Spread = MarketInfo (TradeSymbol, MODE_SPREAD)*Point;
SPoint = Point;
TradesThisSymbol = TotalTradesThisSymbol (TradeSymbol);
Direction = Direction (TradeSymbol, PeriodDirection, DirectionMode);
ValueComment = Filter(TradeSymbol, PeriodTrade, FilterMode, okBuy, okSell);
//Comment ("\nSymbol: ", TradeSymbol, "\nMACD Direction: ", Direction, "\n", ValueComment);
/////////////////////////////////////////////////
// Place new order
/////////////////////////////////////////////////
if ( TradesThisSymbol < 1 ) {
LotMM = CalcMM(MM);
if ( LotMM < 0 ) return(0);
ticket = 0;
if ( Direction == 1 && okBuy ) {
MarkTrade();
//Print ("TSD BuyStop: ", TradeSymbol, " ", LotMM, " ", CalcOpenBuy(), " ", CalcSlBuy(), " ", CalcTpBuy());
ticket = OrderSend (TradeSymbol, OP_BUYSTOP, LotMM, CalcOpenBuy(), Slippage, CalcSlBuy(), CalcTpBuy(),
"TSD BuyStop", MAGICNUM, 0, Blue);
}
if ( Direction == -1 && okSell ) {
MarkTrade();
//Print ("TSD SellStop: ", TradeSymbol, " ", LotMM, " ", CalcOpenSell(), " ", CalcSlSell(), " ", CalcTpSell());
ticket = OrderSend (TradeSymbol, OP_SELLSTOP, LotMM, CalcOpenSell(), Slippage, CalcSlSell(), CalcTpSell(),
"TSD SellStop", MAGICNUM, 0, Red);
}
if ( ticket == -1 ) ReportError ();
if ( ticket != 0 ) return(0);
} // End of TradesThisSymbol < 1
/////////////////////////////////////////////////
// Pending Order Management
/////////////////////////////////////////////////
for (i = 0; i < OrdersTotal(); i++) {
if ( OrderSelect (i, SELECT_BY_POS) == false ) continue;
if ( OrderSymbol() != TradeSymbol || OrderMagicNumber() != MAGICNUM) continue;
if ( OrderType () == OP_BUYSTOP ) {
if ( Direction != 1 ) {
MarkTrade();
OrderDelete ( OrderTicket() );
return(0);
}
if ( iHigh(TradeSymbol, PeriodTrade, 1) < iHigh(TradeSymbol, PeriodTrade, 2) &&
( !CompareDoubles (CalcSlBuy(), OrderStopLoss()) ||
!CompareDoubles (CalcTpBuy(), OrderTakeProfit()) ) ) {
MarkTrade();
OrderModify (OrderTicket(), CalcOpenBuy(), CalcSlBuy(), CalcTpBuy(), 0, White);
return(0);
}
}
if ( OrderType () == OP_SELLSTOP ) {
if ( Direction != -1 ) {
MarkTrade();
OrderDelete ( OrderTicket() );
return(0);
}
if ( iLow(TradeSymbol, PeriodTrade, 1) > iLow(TradeSymbol, PeriodTrade, 2) &&
( !CompareDoubles (CalcSlSell(), OrderStopLoss()) ||
!CompareDoubles (CalcTpSell(), OrderTakeProfit()) ) ) {
MarkTrade();
OrderModify (OrderTicket(), CalcOpenSell(), CalcSlSell(), CalcTpSell(), 0, Gold);
return(0);
}
}
} // End of Pending Order Management
/////////////////////////////////////////////////
// Stop Loss Management
/////////////////////////////////////////////////
if ( TrailingStop > 0 ) {
for (i = 0; i < OrdersTotal(); i++) {
if ( OrderSelect (i, SELECT_BY_POS) == false ) continue;
if ( OrderSymbol() != TradeSymbol || OrderMagicNumber() != MAGICNUM ) continue;
if ( TrailStop (i, TrailingStop) ) return(0);
}
}
return(0);
}
//+------------------------------------------------------------------+
double CalcOpenBuy () { return (dMax (iHigh(TradeSymbol, PeriodTrade, 1) + 1*SPoint + Spread,
Ask + 16*SPoint)); }
double CalcOpenSell () { return (dMin (iLow(TradeSymbol, PeriodTrade, 1) - 1*SPoint,
Bid - 16*SPoint)); }
double CalcSlBuy () { return (iLow (TradeSymbol, PeriodTrade, 1) - 1*SPoint); }
double CalcSlSell () { return (iHigh(TradeSymbol, PeriodTrade, 1) + 1*SPoint + Spread); }
double CalcTpBuy () {
double PriceOpen = CalcOpenBuy(), SL = CalcSlBuy();
return (PriceOpen + dMax(TakeProfit*SPoint, (PriceOpen - SL)*2));
}
double CalcTpSell () {
double PriceOpen = CalcOpenSell(), SL = CalcSlSell();
return (PriceOpen - dMax(TakeProfit*SPoint, (SL - PriceOpen)*2));
}
//+------------------------------------------------------------------+
bool TrailStop (int i, int TrailingStop) {
double StopLoss;
if ( OrderType() == OP_BUY ) {
if ( Bid < OrderOpenPrice () ) return;
StopLoss = iLow(TradeSymbol, PeriodTrailing, Lowest (TradeSymbol, PeriodTrailing, MODE_LOW, CandlesTrailing+1, 0)) - 1*Point;
StopLoss = dMin (Bid-TrailingStop*SPoint, StopLoss);
if ( StopLoss > OrderStopLoss() ) {
MarkTrade();
OrderModify (OrderTicket(), OrderOpenPrice(), StopLoss, OrderTakeProfit(), 0, White);
return(true);
}
}
if ( OrderType() == OP_SELL ) {
if ( Ask > OrderOpenPrice () ) return;
StopLoss = iHigh(TradeSymbol, PeriodTrailing, Highest (TradeSymbol, PeriodTrailing, MODE_HIGH, CandlesTrailing+1, 0)) + 1*Point
+ Spread;
StopLoss = dMax (Ask+TrailingStop*SPoint, StopLoss);
if ( StopLoss < OrderStopLoss() ) {
MarkTrade();
OrderModify (OrderTicket(), OrderOpenPrice(), StopLoss, OrderTakeProfit(), 0, Gold);
return(true);
}
}
}
//+------------------------------------------------------------------+
int Direction (string TradeSymbol, int PeriodDirection, int Mode) {
double Previous, Previous2;
if (Mode == DIRECTION_MACD ) {
Previous = iMACD (TradeSymbol, PeriodDirection, 5, 34, 5, PRICE_MEDIAN, MODE_MAIN, 1);
Previous2 = iMACD (TradeSymbol, PeriodDirection, 5, 34, 5, PRICE_MEDIAN, MODE_MAIN, 2);
}
else {
Previous = iOsMA (TradeSymbol, PeriodDirection, 5, 34, 5, PRICE_MEDIAN, 1);
Previous2 = iOsMA (TradeSymbol, PeriodDirection, 5, 34, 5, PRICE_MEDIAN, 2);
}
if ( Previous > Previous2 )
return(1);
if ( Previous < Previous2 )
return(-1);
return(0);
}
//+------------------------------------------------------------------+
string Filter (string TradeSymbol, int PeriodTrade, int Mode, bool &okBuy, bool &okSell) {
double Value;
okBuy = false; okSell = false;
if (Mode == FILTER_WPR) {
Value = iWPR(TradeSymbol, PeriodTrade, WilliamsP, 1);
if (Value < WilliamsH) okBuy = true;
if (Value > WilliamsL) okSell = true;
return ("iWPR: " + DoubleToStr(Value, 2));
}
else if (Mode == FILTER_FORCE) {
Value = iForce (TradeSymbol, PeriodTrade, ForceP, MODE_EMA, PRICE_CLOSE, 1);
if (Value < 0) okBuy = true;
if (Value > 0) okSell = true;
return ("iForce: " + DoubleToStr(Value, 2));
}
}
//+------------------------------------------------------------------+
double CalcMM (int MM) {
double LotMM;
if ( MM < -1) {
if ( AccountFreeMargin () < 5 ) return(-1);
LotMM = MathFloor (AccountBalance()*Leverage/1000);
if ( LotMM < 1 ) LotMM = 1;
LotMM = LotMM/100;
}
if ( MM == -1 ) {
if ( AccountFreeMargin() < 50 ) return(-1);
LotMM = MathFloor(AccountBalance()*Leverage/10000);
if ( LotMM < 1 ) LotMM = 1;
LotMM = LotMM/10;
}
if ( MM == 0 ) {
if ( AccountFreeMargin() < MarginChoke ) return(-1);
LotMM = Lots;
}
if ( MM > 0 ) {
if ( AccountFreeMargin() < 500 ) return(-1);
LotMM = MathFloor(AccountBalance()*Leverage/100000);
if ( LotMM < 1 ) LotMM = 1;
}
if ( LotMM > LotsMax ) LotMM = LotsMax;
return(LotMM);
}
//+------------------------------------------------------------------+
int TotalTradesThisSymbol (string TradeSymbol) {
int i, TradesThisSymbol = 0;
for (i = 0; i < OrdersTotal(); i++)
if ( OrderSelect (i, SELECT_BY_POS) )
if ( OrderSymbol() == TradeSymbol && OrderMagicNumber() == MAGICNUM)
TradesThisSymbol++;
return (TradesThisSymbol);
}
//+------------------------------------------------------------------+
void ReportError () {
int err = GetLastError();
Print("Error(",err,"): ", ErrorDescription(err));
}
//+------------------------------------------------------------------+
double dMax (double val1, double val2) {
if (val1 > val2) return(val1);
return(val2);
}
//+------------------------------------------------------------------+
double dMin (double val1, double val2) {
if (val1 < val2) return(val1);
return(val2);
}
//+------------------------------------------------------------------+
void MarkTrade () {
LastTrade = CurTime();
}
Profitability Reports
Expected payoff
Average expected payoff across the available backtests for each symbol.
Comments