//+------------------------------------------------------------------+
//| OCO.mq4 |
//| Copyright © 2007, MQL Service |
//| http://www.mqlservice.com |
/*
OCO.mq4 is One Cancels the Other script. It should be put in
MetatradeInstall/experts/scripts folder and after compilation it
will be available in Navigator/Scripts.
With default parameters it opens two pending stop orders, one for
sell and one for buy. This is also known as Straddle and very
popular among News Trades. One have a possibility to
change order type, set Slippage and Expiration. Also
when StopLoss and/or TakeProfits are set to different value than 0
this value will be used during sending orders.
One should note, that setting pending orders require that they
are put in minimum distance from a market price, Ask for BUYSTOP
and Bid for SELLSTOP. This minimum price is different among
brokers and can be found in Symbol Properties as Stops level.
Most of brokers have value 5 which means that a BUYSTOP can be
put with minimum distance of 6 pips above Ask, and SELLSTOP 6
pips below Bid. In case that orders are set too close then
'ERROR #130 : invalid stops' message is put.
MQL Service, 24/01/2007
*/
//| $Id: //mqlservice/mt4files/experts/scripts/OCO.mq4#1 $
//+------------------------------------------------------------------+
#property copyright "Copyright © 2007, MQL Service"
#property link "http://www.mqlservice.com"
#property show_inputs
//---- Parametres Externes
extern double BuyOrderPrice = 1000.0;
extern double BuyLots = 1.0;
extern int BuyStopLoss = 0;
extern int BuyTakeProfit = 0;
extern int BuyOrderType = OP_BUYSTOP;
extern double SellOrderPrice = 0.0;
extern double SellLots = 1.0;
extern int SellStopLoss = 0;
extern int SellTakeProfit = 0;
extern int SellOrderType = OP_SELLSTOP;
extern datetime Expiration = D'15/7/2007 12:00';
extern int Slippage = 1;
extern int Magic = 20070401;
//---- Section Define
#define LABEL "OCOLabel"
#define TIMEOUT 3
//---- Variables
double bsl,ssl,btp,stp;
int bt,st;
bool cont = false;
bool flip = true;
int err1,err;
//+------------------------------------------------------------------+
//| script program start function |
//+------------------------------------------------------------------+
int start()
{
//----
if(BuyStopLoss > 0)
bsl = BuyOrderPrice - BuyStopLoss*Point;
else
bsl = 0.0;
if(SellStopLoss > 0)
ssl = SellOrderPrice + SellStopLoss*Point;
else
ssl = 0.0;
if(BuyTakeProfit > 0)
btp = BuyOrderPrice + BuyTakeProfit*Point;
else
btp = 0.0;
if(SellTakeProfit > 0)
stp = SellOrderPrice - SellTakeProfit*Point;
else
stp = 0.0;
bt = OrderSend(Symbol(), BuyOrderType, BuyLots, BuyOrderPrice, Slippage, bsl, btp, "Buy OCO", Magic, Expiration, Blue);
if(CheckError())
return(-1);
st = OrderSend(Symbol(), SellOrderType, SellLots, SellOrderPrice, Slippage, ssl, stp, "Sell OCO", Magic, Expiration, Red);
if(CheckError())
{
RemoveOrder(bt);
return(-1);
}
cont = IsTradeAllowed();
err1 = 0;
while(cont)
{
if(flip)
ShowLabel();
else
HideLabel();
flip = !flip;
err = 0;
if(OrderSelect(bt, SELECT_BY_TICKET, MODE_TRADES))
{
if(OrderType() <= OP_SELL)
{
RemoveOrder(st);
cont = false;
}
}
else
err++;
if(OrderSelect(st, SELECT_BY_TICKET, MODE_TRADES))
{
if(OrderType() <= OP_SELL)
{
RemoveOrder(bt);
cont = false;
}
}
else
err++;
if(err > 0)
err1++;
if(err1 > TIMEOUT)
cont = false;
Sleep(500);
cont = cont && IsTradeAllowed();
}
HideLabel();
//----
return(0);
}
//+------------------------------------------------------------------+
//+------------------------------------------------------------------+
//| script program VOID functions |
//+------------------------------------------------------------------+
#include <stderror.mqh>
#include <stdlib.mqh>
void ShowLabel()
{
ObjectCreate(LABEL, OBJ_LABEL, 0, 0, 0);
ObjectSet(LABEL, OBJPROP_CORNER, 2);
ObjectSet(LABEL, OBJPROP_XDISTANCE, 4);
ObjectSet(LABEL, OBJPROP_YDISTANCE, 2);
ObjectSetText(LABEL, "OCO by http://www.mqlservice.com", 8, "Arial", Yellow);
WindowRedraw();
}
void HideLabel()
{
ObjectDelete(LABEL);
WindowRedraw();
}
bool CheckError()
{
int err = GetLastError();
if(err == ERR_NO_ERROR) return(false);
Print("ERROR #",err,": ",ErrorDescription(err));
Alert("ERROR #",err,": ",ErrorDescription(err));
return(true);
}
void RemoveOrder(int ticket)
{
if(OrderSelect(ticket, SELECT_BY_TICKET, MODE_TRADES))
if(OrderType() <= OP_SELL)
OrderClose(ticket, OrderLots(), OrderClosePrice(), Slippage);
else
OrderDelete(ticket);
CheckError();
}
//+---- Coded by M. Rutka -------------------------------------------+
Sample
Analysis
Market Information Used:
Indicator Curves created:
Indicators Used:
Custom Indicators Used:
Order Management characteristics:
It automatically opens orders when conditions are reached
It Closes Orders by itself
Other Features:
It issuies visual alerts to the screen
