//+------------------------------------------------------------------+
//| TrueScalperProfitLock.mq4 |
//| Copyright © 2005, International Federation of Red Cross. |
//| http://www.ifrc.org/ |
//| Please donate some pips |
//+------------------------------------------------------------------+
//+-----------------------------------------------------------------------------------------+
//| Modifications |
//| ------------- |
//| 1) Jacob Yego and Ron Thompson: Original version |
//| |
//| 2) Reworked by Roger. This MT4 version is now identical to |
//| Roger's earlier MT3 version TrueScalperProfitLock.mql. |
//| Both these versions now include optional RSI validation, optional |
//| Abandon method, MoneyManagement and ProfitLock system. |
//| |
//| Original Theory of operation (See TrueScalperProfitLock.mql MT3 version for more UPDATED|
//| and DETAILED descriptions) |
//+-----------------------------------------------------------------------------------------+
#property copyright "Copyright © 2005, International Federation of Red Cross."
#property link "http://www.ifrc.org/"
// generic user input
extern double Lots=1.0;
extern int TakeProfit=44;
extern int StopLoss=90;
extern bool RSIMethodA=false;
extern bool RSIMethodB=true;
extern int RSIValue=50;
extern bool AbandonMethodA=true;
extern bool AbandonMethodB=false;
extern int Abandon=101;
extern bool MoneyManagement=true;
extern int Risk=2;
extern int Slippage=3;
extern bool UseProfitLock=true;
extern int BreakEvenTrigger=25;
extern int BreakEven=3;
extern bool LiveTrading=false;
extern bool AccountIsMini=false;
extern int maxTradesPerPair=1;
extern int MagicNumber=5432;
//----
double lotMM;
bool BuySignal=false;
bool SetBuy=false;
bool SellSignal=false;
bool SetSell=false;
// Bar handling
datetime bartime=0;
int bartick=0;
int TradeBars=0;
//+------------------------------------------------------------------+
//| expert initialization function |
//+------------------------------------------------------------------+
int init()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert start function |
//+------------------------------------------------------------------+
int start()
{
//----
if (UseProfitLock) ProfitLockStop();
if (AbandonMethodA || AbandonMethodB)
{
RunAbandonCheck();
RunAbandonMethods();
}
if (!SetLotsMM()) return(0);
RunOrderTriggerCalculations();
RunPairSpesificSettings();
RunNewOrderManagement();
//----
return(0);
}
// SetLotsMM - By Robert Cochran http://autoforex.biz
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
bool SetLotsMM()
{
double MarginCutoff;
//----
if(!AccountIsMini) MarginCutoff=1000;
if(AccountIsMini) MarginCutoff=100;
if(AccountFreeMargin() < MarginCutoff) return(false);
if(MoneyManagement)
{
lotMM=MathCeil(AccountBalance() * Risk/10000)/10;
//----
if(lotMM < 0.1) lotMM=Lots;
if(lotMM > 1.0) lotMM=MathCeil(lotMM);
// Enforce lot size boundaries
if(LiveTrading)
{
if(AccountIsMini) lotMM=lotMM * 10;
if(!AccountIsMini && lotMM < 1.0) lotMM=1.0;
}
if(lotMM > 100) lotMM=100;
}
else
{
lotMM=Lots; // Change MoneyManagement to 0 if you want the Lots parameter to be in effect
}
return(true);
}
//+------------------------------------------------------------------+
//| RunOrderTriggerCalculations |
//+------------------------------------------------------------------+
bool RunOrderTriggerCalculations()
{
bool RSIPOS=false;
bool RSINEG=false;
// 3-period moving average on Bar[1]
double bullMA3=iMA(Symbol(),0,3,0,MODE_EMA,PRICE_CLOSE,1);
// 7-period moving average on Bar[1]
double bearMA7=iMA(Symbol(),0,7,0,MODE_EMA,PRICE_CLOSE,1);
// 2-period moving average on Bar[2]
double RSI=iRSI(Symbol(),0,2,PRICE_CLOSE,2);
double RSI2=iRSI(Symbol(),0,2,PRICE_CLOSE,1);
// Determine what polarity RSI is in
if (RSIMethodA)
{
if(RSI>RSIValue && RSI2<RSIValue)
{
RSIPOS=true;
RSINEG=false;
}
else RSIPOS=false;
if(RSI<RSIValue && RSI2>RSIValue)
{
RSIPOS=false;
RSINEG=true;
}
else RSINEG=false;
}
if (RSIMethodB)
{
if(RSI>RSIValue)
{
RSIPOS=true;
RSINEG=false;
}
if(RSI<RSIValue)
{
RSIPOS=false;
RSINEG=true;
}
}
if ((bullMA3 > (bearMA7+Point)) && RSINEG)
{
BuySignal=true;
}
else BuySignal=false;
if ((bullMA3 < (bearMA7-Point)) && RSIPOS)
{
SellSignal=true;
}
else SellSignal=false;
return(true);
}
// OpenOrdersBySymbolAndComment
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
int OpenOrdersForThisEA()
{
int ofts=0;
for(int x=0;x<OrdersTotal();x++)
{
OrderSelect(x, SELECT_BY_POS, MODE_TRADES);
if(OrderSymbol()==Symbol() && OrderMagicNumber()==MagicNumber)
{
ofts++;
}
}
return(ofts);
}
// PROFIT LOCK - By Robert Cochran - http://autoforex.biz
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
bool ProfitLockStop()
{
if(OpenOrdersForThisEA() > 0 )
{
for( int i=0; i < OrdersTotal(); i++){
OrderSelect(i, SELECT_BY_POS, MODE_TRADES);
//--- LONG TRADES
if(OrderType()==OP_BUY && OrderSymbol()==Symbol() && OrderMagicNumber()== MagicNumber)
{
if (Bid>=OrderOpenPrice() + BreakEvenTrigger*Point &&
OrderOpenPrice() > OrderStopLoss())
{
OrderModify(OrderTicket(), OrderOpenPrice(), OrderOpenPrice() + BreakEven * Point, OrderTakeProfit(), Green);
}
}
//--- SHORT TRADES
if(OrderType()==OP_SELL && OrderSymbol()==Symbol() && OrderMagicNumber()==MagicNumber)
{
if (Ask <=OrderOpenPrice() - BreakEvenTrigger*Point &&
OrderOpenPrice() < OrderStopLoss())
{
OrderModify(OrderTicket(), OrderOpenPrice(),OrderOpenPrice() - BreakEven * Point, OrderTakeProfit(), Blue);
}
}
}
}
}
// ABANDON CHECK
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
bool RunAbandonCheck()
{
if(OpenOrdersForThisEA() > 0 )
{
if (TradeBars==0 && bartick==0)
{
for(int i=0; i < OrdersTotal(); i++)
{
if (OrderSymbol()==Symbol())
{
TradeBars=MathFloor(CurTime() - OrderOpenTime())/60/Period();
bartime=Time[0];
bartick=TradeBars;
}
}
}
if(bartime!=Time[0])
{
bartime=Time[0];
bartick++;
}
}
return(true);
}
// RunAbandonMethods
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
bool RunAbandonMethods()
{
if(OpenOrdersForThisEA() > 0 )
{
for(int i=0; i < OrdersTotal(); i++)
{
OrderSelect(i, SELECT_BY_POS, MODE_TRADES);
if (AbandonMethodA && bartick==Abandon)//Force "HEDGE" after abandon
{
// LONG TRADES
if (OrderType()==OP_BUY && OrderSymbol()==Symbol() &&
OrderMagicNumber()==MagicNumber)
{
OrderClose(OrderTicket(),OrderLots(),Bid,Slippage,Blue);
SetSell=true;
continue;
}
// SHORT TRADES
if (OrderType()==OP_SELL && OrderSymbol()==Symbol() &&
OrderMagicNumber()==MagicNumber)
{
OrderClose(OrderTicket(),OrderLots(),Ask,Slippage,Blue);
SetBuy=true;
continue;
}
}
if (AbandonMethodB && bartick==Abandon)//Indicators decide direction after abandon
{
// LONG TRADES
if (OrderType()==OP_BUY && OrderSymbol()==Symbol() &&
OrderMagicNumber()==MagicNumber)
{
OrderClose(OrderTicket(),OrderLots(),Bid,Slippage,White);
continue;
}
// SHORT TRADES
if (OrderType()==OP_SELL && OrderSymbol()==Symbol() &&
OrderMagicNumber()==MagicNumber)
{
OrderClose(OrderTicket(),OrderLots(),Ask,Slippage,White);
continue;
}
}
}
}
return(true);
}
// RunPairSpesificSettings
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
bool RunPairSpesificSettings()
{
// set up the symbol optimizations
if (Symbol()=="GBPUSD")
{
TakeProfit=55; StopLoss=100; Abandon=69;
}
return(true);
}
// RunNewOrderManagement
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
bool RunNewOrderManagement()
{
double TP,SL;
//----
if(OpenOrdersForThisEA() < maxTradesPerPair )
{
//ENTRY Ask(buy, long)
if (BuySignal || SetBuy)
{
SL=Ask - StopLoss*Point;
TP=Ask + TakeProfit*Point;
OrderSend(Symbol(),OP_BUY,lotMM,Ask,Slippage,SL,TP,"TS-ProfitLock - "+Symbol()+" - Long",MagicNumber,0,White);
bartick=0;
if (SetBuy) SetBuy=false;
return(true);
}
//ENTRY Bid (sell, short)
if (SellSignal || SetSell)
{
SL=Bid + StopLoss*Point;
TP=Bid - TakeProfit*Point;
OrderSend(Symbol(),OP_SELL,lotMM,Bid,Slippage,SL,TP,"TS-ProfitLock - "+Symbol()+" - Short",MagicNumber,0,Red);
bartick=0;
if (SetSell) SetSell=false;
return(true);
}
}
return(true);
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Series array that contains open time of each bar
Indicator Curves created:
Indicators Used:
Moving average indicator
Relative strength index
Custom Indicators Used:
Order Management characteristics:
Checks for the total of open orders
It can change open orders parameters, due to possible stepping strategy
It Closes Orders by itself
It automatically opens orders when conditions are reached
Other Features:
