//+------------------------------------------------------------------+
//| NEWS_EA.mq4 |
//| Copyright © 2005, MetaQuotes Software Corp. |
//| http://www.winning-solution.net/ |
//+------------------------------------------------------------------+
extern double TakeProfit = 100;
extern double StopLoss = 40;
extern double Lots = 0.1;
extern double TrailingStop = 10;
extern double Trap = 30;
extern bool ConventionalTrapping = true;
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
int start()
{
int cnt, ticket, total;
// initial data checks
// it is important to make sure that the expert works with a normal
// chart and the user did not make any mistakes setting external
// variables (Lots, StopLoss, TakeProfit,
// TrailingStop) in our case, we check TakeProfit
// on a chart of less than 100 bars
if(Bars<100)
{
Print("bars less than 100");
return(0);
}
if(TakeProfit<10)
{
Print("TakeProfit less than 10");
return(0); // check TakeProfit
}
// to simplify the coding and speed up access
// data are put into internal variables
double buystop = Close[0]+Trap*Point;
double sellstop = Close[0]-Trap*Point;
double high4h = iHigh(NULL,PERIOD_H4,0);
double low4h = iLow(NULL,PERIOD_H4,0);
double buy_hilo = high4h;
double sell_hilo = low4h;
if(high4h - low4h > 60*Point){
}
if(ConventionalTrapping){
total=OrdersTotal();
if(total<2) // open 2 transaction
{
// no opened orders identified
if(AccountFreeMargin()<(1000*Lots))
{
Print("We have no money. Free Margin = ", AccountFreeMargin());
return(0);
}
else{
// check for long position (BUY) possibility
OrderSend(Symbol(),OP_BUYSTOP,Lots,buystop,3,buystop-StopLoss*Point,buystop+TakeProfit*Point,"WSS News Trap Buy",16384,0,Green);
OrderSend(Symbol(),OP_SELLSTOP,Lots,sellstop,3,sellstop+StopLoss*Point,sellstop-TakeProfit*Point,"WSS News Trap Sell",16384,0,Red);
return(0);
}
}
}
/*if(Hilo4HTrapping){
total=OrdersTotal();
if(total<2) // open 2 transaction
{
// no opened orders identified
if(AccountFreeMargin()<(1000*Lots))
{
Print("We have no money. Free Margin = ", AccountFreeMargin());
return(0);
}
else{
// check for long position (BUY) possibility
OrderSend(Symbol(),OP_BUYSTOP,Lots,buy_hilo,3,buy_hilo-StopLoss*Point,buy_hilo+TakeProfit*Point,"WSS News Trap Buy",16384,0,Green);
OrderSend(Symbol(),OP_SELLSTOP,Lots,sell_hilo,3,sell_hilo+StopLoss*Point,sell_hilo-TakeProfit*Point,"WSS News Trap Sell",16384,0,Red);
return(0);
}
}
}*/
// it is important to enter the market correctly,
// but it is more important to exit it correctly...
for(cnt=0;cnt<total;cnt++)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if(OrderType()<=OP_SELLSTOP && // check for opened position
OrderSymbol()==Symbol()) // check for symbol
{
if(OrderType()==OP_BUYSTOP) // long position is opened
{
// Close short order
if(Close[0] > buystop){
OrderClose(OrderTicket(),OrderLots(),sellstop,3,Violet); // close position
return(0); // exit
}
// check for trailing stop
// check for trailing stop
if(TrailingStop>0)
{
if(buystop-OrderOpenPrice()>Point*TrailingStop)
{
if(OrderStopLoss()<buystop-Point*TrailingStop)
{
OrderModify(OrderTicket(),OrderOpenPrice(),buystop-Point*TrailingStop,OrderTakeProfit(),0,Green);
return(0);
}
}
}
}
else // go to short position
{
if(Close[0] > sellstop){
OrderClose(OrderTicket(),OrderLots(),buystop,3,Violet); // close position
return(0); // exit
}
// check for trailing stop
if(TrailingStop>0)
{
if((OrderOpenPrice()-sellstop)>(Point*TrailingStop))
{
if((OrderStopLoss()>(sellstop+Point*TrailingStop)) || (OrderStopLoss()==0))
{
OrderModify(OrderTicket(),OrderOpenPrice(),sellstop+Point*TrailingStop,OrderTakeProfit(),0,Red);
return(0);
}
}
}
}
}
}
return(0);
}
// the end.
Sample
Analysis
Market Information Used:
Series array that contains close prices for each bar
Series array that contains the highest prices of each bar
Series array that contains the lowest prices of each bar
Indicator Curves created:
Indicators Used:
Custom Indicators Used:
Order Management characteristics:
Checks for the total of open orders
It automatically opens orders when conditions are reached
It Closes Orders by itself
It can change open orders parameters, due to possible stepping strategy
Other Features:
