Envelope 2.11_all

Download script
Author: tageiger
Profit factor:
88.57

Technical Logic Overview: Envelope 2 Trading Script

This document provides a non-technical explanation of the logic used by the "Envelope 2" MetaTrader script. The script is designed to automate trade entries, risk management, and exit strategies based on price movement relative to specific technical indicators.

1. Core Indicators and Environment

The script relies on three primary visual and mathematical components to make decisions:

  • Moving Average (MA): A smoothed average of recent price action used as a reference point.
  • Envelopes: These consist of an "Upper Line" and a "Lower Line" calculated around the Moving Average. They act as dynamic boundaries for price movement.
  • Price Position: The script constantly checks where the current market price is sitting in relation to these Upper and Lower Envelope lines.

2. Dynamic Risk and Lot Management

Before opening any trades, the script performs a "Smart Sizing" calculation:

  • Margin-Based Sizing: It determines how much of the available account balance it can risk on a single trade.
  • Loss Protection (Decrease Factor): The script reviews your trading history. If it detects a recent streak of consecutive losses, it automatically reduces the size of the next trade to protect your capital.

3. Trade Entry Logic

The script manages up to six "Pending Orders" (Buy Stops and Sell Stops). These are orders that wait for the price to hit a specific level before being activated.

Buy Orders (Long Positions)

  • Condition: The script looks for a scenario where the current price is trapped between the lines (Price is below the Upper Line but above the Lower Line).
  • Execution: It places three different Buy Stop orders at the Upper Envelope line.
  • Varied Targets: Each of the three buy orders has a different "Take Profit" target (Short, Medium, and Long), allowing for multiple profit-taking levels simultaneously.

Sell Orders (Short Positions)

  • Condition: Similar to the Buy logic, it identifies when the price is within the boundaries.
  • Execution: It places three Sell Stop orders at the Lower Envelope line.
  • Varied Targets: Like the buy orders, these have three different "Take Profit" targets designed to capture different levels of price retracement.

4. Trade Management and Safety Features

Once a trade is activated (triggered by the market), the script manages it actively:

Trailing Stop Loss (TSL)

To protect profits as the market moves in your favor, the script employs a dynamic "Trailing Stop":

  • It monitors the price move relative to the Moving Average or the opposite Envelope line (depending on user settings).
  • If the price moves significantly into profit, the script automatically moves the "Stop Loss" closer to the current price. This ensures that if the market suddenly reverses, you lock in a portion of your gains.

Time Filters and Expirations

The script respects specific trading hours:

  • Active Window: It will only look for new entries during a user-defined time range (e.g., between certain hours of the day).
  • Pending Order Cleanup: Any "Pending" orders (orders waiting to be triggered) that have not been activated by the designated closing hour are automatically deleted to prevent them from being triggered by random price spikes during off-hours.

5. Summary of Operation

  1. Analyze: Check current price vs. Envelopes and check account history for loss streaks.
  2. Size: Calculate the safest lot size based on current balance and past performance.
  3. Deploy: Place pending "Buy" and "Sell" orders at the envelope boundaries during allowed hours.
  4. Protect: Move Stop Losses automatically as prices move in your favor to secure profit.
  5. Cleanup: Remove unused pending orders at the end of the trading day.
Orders Execution
Checks for the total of open ordersIt automatically opens orders when conditions are reachedIt can change open orders parameters, due to possible stepping strategy
Indicators Used
Moving average indicatorEnvelopes indicator
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Envelope 2.11_all 
//+------------------------------------------------------------------+
//|                                                   Envelope 2.mq4 |
//|                                                         tageiger |
//|                                        http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "tageiger"
#property link      "http://www.metaquotes.net"

//---- input parameters
extern int        Magic = 10000;
extern int        EnvelopePeriod    =144;
extern int        EnvTimeFrame      =0; //envelope time frame: 0=chart,60=1hr,240=4hr, etc.
extern int        EnvMaMethod       =1; //0=sma,1=ema,2=smma,3=lwma.
extern double     EnvelopeDeviation =1;
extern int        TimeOpen          =0;
extern int        TimeClose         =23;
extern double     FirstTP           =89.0;
extern double     SecondTP          =144.0;
extern double     ThirdTP           =233.0;
extern double     Lots              =0.1;
extern double     MaximumRisk       =0.14;
extern double     DecreaseFactor    =3;
extern int        MaElineTSL        =0;//0=iMA trailing stoploss  1=Opposite Envelope TSL
int               b1,b2,b3,s1,s2,s3;
double            TSL               =0;

//+------------------------------------------------------------------+
//| Calculate optimal lot size                                       |
//+------------------------------------------------------------------+
double LotsOptimized()
  {
   double lot=Lots;
   int    orders=HistoryTotal();     // history orders total
   int    losses=0;                  // number of losses orders without a break
//---- select lot size
   lot=NormalizeDouble(AccountFreeMargin()*MaximumRisk/1000.0,1);
//---- calcuulate number of losses orders without a break
   if(DecreaseFactor>0)
     {
      for(int i=orders-1;i>=0;i--)
        {
         if(OrderSelect(i,SELECT_BY_POS,MODE_HISTORY)==false) { Print("Error in history!"); break; }
         if(OrderSymbol()!=Symbol() || OrderType()>OP_SELL) continue;
         //----
         if(OrderProfit()>0) break;
         if(OrderProfit()<0) losses++;
        }
      if(losses>1) lot=NormalizeDouble(lot-lot*losses/DecreaseFactor,1);
     }
//---- return lot size
   if(lot<0.1) lot=0.1;
   return(lot);
   }

int start()
   {
   int      p=0;p=EnvelopePeriod;
   int      etf=0;etf=EnvTimeFrame;
   int      mam=0;mam=EnvMaMethod;
   double   d=0;d=EnvelopeDeviation;
   double   btp1,btp2,btp3,stp1,stp2,stp3;
   double   bline=0,sline=0,ma=0;
   int      cnt, ticket, total;
   
   int      digit  = MarketInfo(Symbol(),MODE_DIGITS);
   
   ma=iMA(NULL,etf,p,0,mam,PRICE_CLOSE,0);
   bline=iEnvelopes(NULL,etf,p,mam,0,PRICE_CLOSE,d,MODE_UPPER,0);
   sline=iEnvelopes(NULL,etf,p,mam,0,PRICE_CLOSE,d,MODE_LOWER,0);

   total=OrdersTotal();
   if(OrdersTotal()==0)
      {b1=0;b2=0;b3=0;s1=0;s2=0;s3=0;}
   if(OrdersTotal()>0)
      {
      //Print("Total Orders:",OrdersTotal());
      //Print(b1," ",b2," ",b3," ",s1," ",s2," ",s3);
      for(cnt=0;cnt<total;cnt++)
         {
         OrderSelect(cnt,SELECT_BY_POS,MODE_TRADES);
         if(OrderMagicNumber()==Magic+2)
            {b1=OrderTicket(); }
         if(OrderMagicNumber()==Magic+4)
            {b2=OrderTicket(); }
         if(OrderMagicNumber()==Magic+6)
            {b3=OrderTicket(); }
         if(OrderMagicNumber()==Magic+1)
            {s1=OrderTicket(); }
         if(OrderMagicNumber()==Magic+3)
            {s2=OrderTicket(); }
         if(OrderMagicNumber()==Magic+5)
            {s3=OrderTicket(); }
         }
      //Print ("magic=",OrderMagicNumber());
      }
   if(b1==0)
      {  
      if(Hour()>TimeOpen && Hour()<TimeClose)
         {
         if(bline>Close[0] && sline<Close[0])
            {
            btp1=(NormalizeDouble(bline,digit))+(FirstTP*Point);
            ticket=OrderSend(Symbol(),
                              OP_BUYSTOP,
                              LotsOptimized(),
                              (NormalizeDouble(bline,digit)),
                              0,
                              (NormalizeDouble(sline,digit)),
                              btp1,
                              "",
                              Magic+2,
                              TimeClose,
                              Aqua);
                              if(ticket>0)
                                 {
                                 if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
                                    {
                                    b1=ticket;
                                    Print(ticket);
                                    }
                                 else Print("Error Opening BuyStop Order: ",GetLastError());
                                 return(0);
                                 }
            }
         }
      }         

   if(b2==0)
      {
      if(Hour()>TimeOpen && Hour()<TimeClose)
         {
         if(bline>Close[0] && sline<Close[0])
            {      
            btp2=(NormalizeDouble(bline,digit))+(SecondTP*Point);
            ticket=OrderSend(Symbol(),
                              OP_BUYSTOP,
                              LotsOptimized(),
                              (NormalizeDouble(bline,digit)),
                              0,
                              (NormalizeDouble(sline,digit)),
                              btp2,
                              "",
                              Magic+4,
                              TimeClose,
                              Aqua);
                              if(ticket>0)
                                 {
                                 if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
                                    {
                                    b2=ticket;
                                    Print(ticket);
                                    }
                                 else Print("Error Opening BuyStop Order: ",GetLastError());
                                 return(0);
                                 }
            }
         }
      }                              

   if(b3==0)
      {
      if(Hour()>TimeOpen && Hour()<TimeClose)
         {
         if(bline>Close[0] && sline<Close[0])
            {      
            btp3=(NormalizeDouble(bline,digit))+(ThirdTP*Point);
            ticket=OrderSend(Symbol(),
                              OP_BUYSTOP,
                              LotsOptimized(),
                              (NormalizeDouble(bline,digit)),
                              0,
                              (NormalizeDouble(sline,digit)),
                              btp3,
                              "",
                              Magic+6,
                              TimeClose,
                              Aqua);
                              if(ticket>0)
                                 {
                                 if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
                                    {
                                    b3=ticket;
                                    Print(ticket);
                                    }
                                 else Print("Error Opening BuyStop Order: ",GetLastError());
                                 return(0);
                                 }
            }
         }
      }                     
   
   if(s1==0)
      {
      if(Hour()>TimeOpen && Hour()<TimeClose)
         {
         if(bline>Close[0] && sline<Close[0])
            {      
            stp1=NormalizeDouble(sline,digit)-(FirstTP*Point);
            ticket=OrderSend(Symbol(),
                              OP_SELLSTOP,
                              LotsOptimized(),
                              (NormalizeDouble(sline,digit)),
                              0,
                              (NormalizeDouble(bline,digit)),
                              stp1,
                              "",
                              Magic+1,
                              TimeClose,
                              HotPink);
                              if(ticket>0)
                                 {
                                 if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
                                    {
                                    s1=ticket;
                                    Print(ticket);
                                    }
                                 else Print("Error Opening SellStop Order: ",GetLastError());
                                 return(0);
                                 }
            }
         }
      }

   if(s2==0)
      {
      if(Hour()>TimeOpen && Hour()<TimeClose)
         {
         if(bline>Close[0] && sline<Close[0])
            {      
            stp2=NormalizeDouble(sline,digit)-(SecondTP*Point);
            ticket=OrderSend(Symbol(),
                              OP_SELLSTOP,
                              LotsOptimized(),
                              (NormalizeDouble(sline,digit)),
                              0,
                              (NormalizeDouble(bline,digit)),
                              stp2,
                              "",
                              Magic+3,
                              TimeClose,
                              HotPink);
                              if(ticket>0)
                                 {
                                 if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
                                    {
                                    s2=ticket;
                                    Print(ticket);
                                    }
                                 else Print("Error Opening SellStop Order: ",GetLastError());
                                 return(0);
                                 }
            }
         }
      }                     
   
   if(s3==0)
      {
      if(Hour()>TimeOpen && Hour()<TimeClose)
         {
         if(bline>Close[0] && sline<Close[0])
            {      
            stp3=NormalizeDouble(sline,digit)-(ThirdTP*Point);
            ticket=OrderSend(Symbol(),
                              OP_SELLSTOP,
                              LotsOptimized(),
                              (NormalizeDouble(sline,digit)),
                              0,
                              (NormalizeDouble(bline,digit)),
                              stp3,
                              "",
                              Magic+5,
                              TimeClose,
                              HotPink);
                              if(ticket>0)
                                 {
                                 if(OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES))
                                    {
                                    s3=ticket;
                                    Print(ticket);
                                    }
                                 else Print("Error Opening SellStop Order: ",GetLastError());
                                 return(0);
                                 }
            }
         }
      }
   for(cnt=0;cnt<total;cnt++)
      {
      OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);            
      if(OrderType()==OP_BUY)
         {
         if(MaElineTSL==0) {TSL=NormalizeDouble(ma,digit); }
         if(MaElineTSL==1) {TSL=NormalizeDouble(sline,digit); }
         if(Close[0]>OrderOpenPrice())
            {
            if((Close[0]>sline) && (TSL>OrderStopLoss()))
               {
               double bsl;bsl=TSL;
               OrderModify(OrderTicket(),
                           OrderOpenPrice(),
                           bsl,
                           OrderTakeProfit(),
                           0,//Order expiration server date/time
                           Green);
               Sleep(10000);
               }
            }
         }
      OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);            
      if(OrderType()==OP_SELL)
         {
         if(MaElineTSL==0) {TSL=NormalizeDouble(ma,digit); }
         if(MaElineTSL==1) {TSL=NormalizeDouble(bline,digit); }         
         if(Close[0]<OrderOpenPrice())
            {
            if((Close[0]<bline) && (TSL<OrderStopLoss()))
               {
               double ssl;ssl=TSL;
               OrderModify(OrderTicket(),
                           OrderOpenPrice(),
                           ssl,
                           OrderTakeProfit(),
                           0,//Order expiration server date/time
                           Red);
               Sleep(10000);
               }
            }
         }      
      OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);   
      if(Hour()==TimeClose && OrderType()==OP_BUYSTOP)
         {
         OrderDelete(OrderTicket());
         if(OrderTicket()==b1) {b1=0; return;}
         if(OrderTicket()==b2) {b2=0; return;}
         if(OrderTicket()==b3) {b3=0; return;}                  
         }
      OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);            
      if(Hour()==TimeClose && OrderType()==OP_SELLSTOP)
         {
         OrderDelete(OrderTicket());
         if(OrderTicket()==s1) {s1=0; return;}
         if(OrderTicket()==s2) {s2=0; return;}
         if(OrderTicket()==s3) {s3=0; return;}
         }
      OrderSelect(b1,SELECT_BY_TICKET);
      if(OrderClosePrice()>0) {b1=0;}
      OrderSelect(b2,SELECT_BY_TICKET);
      if(OrderClosePrice()>0) {b2=0;}
      OrderSelect(b3,SELECT_BY_TICKET);
      if(OrderClosePrice()>0) {b3=0;}
      OrderSelect(s1,SELECT_BY_TICKET);
      if(OrderClosePrice()>0) {s1=0;}
      OrderSelect(s2,SELECT_BY_TICKET);
      if(OrderClosePrice()>0) {s2=0;}     
      OrderSelect(s3,SELECT_BY_TICKET);
      if(OrderClosePrice()>0) {s3=0;}         
      }
   }

Profitability Reports

PERFORMANCE BY SYMBOL

Expected payoff

Average expected payoff across the available backtests for each symbol.

Positive Negative
16 reports
EUR/USD Jul 2025 - Sep 2025
1407.76
Total Trades 12
Won Trades 9
Lost trades 3
Win Rate 75.00 %
Expected payoff 465779.44
Gross Profit 5593326.50
Gross Loss -3973.20
Total Net Profit 5589353.30
-100%
-50%
0%
50%
100%
View Full Report
USD/CHF Jul 2025 - Sep 2025
1.30
Total Trades 46
Won Trades 36
Lost trades 10
Win Rate 78.26 %
Expected payoff 36.06
Gross Profit 7239.58
Gross Loss -5580.90
Total Net Profit 1658.68
-100%
-50%
0%
50%
100%
View Full Report
GBP/CAD Oct 2025 - Feb 2026
1.05
Total Trades 21
Won Trades 18
Lost trades 3
Win Rate 85.71 %
Expected payoff 5.33
Gross Profit 2157.54
Gross Loss -2045.66
Total Net Profit 111.88
-100%
-50%
0%
50%
100%
View Full Report
GBP/AUD Jul 2025 - Sep 2025
0.97
Total Trades 12
Won Trades 11
Lost trades 1
Win Rate 91.67 %
Expected payoff -2.92
Gross Profit 1356.81
Gross Loss -1391.83
Total Net Profit -35.02
-100%
-50%
0%
50%
100%
View Full Report
EUR/USD Oct 2025 - Feb 2026
0.93
Total Trades 42
Won Trades 34
Lost trades 8
Win Rate 80.95 %
Expected payoff -9.82
Gross Profit 5905.80
Gross Loss -6318.10
Total Net Profit -412.30
-100%
-50%
0%
50%
100%
View Full Report
GBP/USD Oct 2024 - Jan 2025
0.87
Total Trades 108
Won Trades 94
Lost trades 14
Win Rate 87.04 %
Expected payoff -29.17
Gross Profit 20516.20
Gross Loss -23666.70
Total Net Profit -3150.50
-100%
-50%
0%
50%
100%
View Full Report
USD/CAD Oct 2024 - Jan 2025
0.78
Total Trades 37
Won Trades 33
Lost trades 4
Win Rate 89.19 %
Expected payoff -28.33
Gross Profit 3632.79
Gross Loss -4680.98
Total Net Profit -1048.19
-100%
-50%
0%
50%
100%
View Full Report
AUD/USD Oct 2025 - Feb 2026
0.78
Total Trades 104
Won Trades 82
Lost trades 22
Win Rate 78.85 %
Expected payoff -33.79
Gross Profit 12250.20
Gross Loss -15764.60
Total Net Profit -3514.40
-100%
-50%
0%
50%
100%
View Full Report
NZD/USD Oct 2024 - Jan 2025
0.75
Total Trades 91
Won Trades 65
Lost trades 26
Win Rate 71.43 %
Expected payoff -39.41
Gross Profit 10711.00
Gross Loss -14297.70
Total Net Profit -3586.70
-100%
-50%
0%
50%
100%
View Full Report
AUD/USD Oct 2024 - Jan 2025
0.68
Total Trades 129
Won Trades 0
Lost trades 0
Win Rate 0.00 %
Expected payoff -51.62
Gross Profit 14138.10
Gross Loss -20797.40
Total Net Profit -6659.30
-100%
-50%
0%
50%
100%
View Full Report
NZD/USD Jul 2025 - Sep 2025
0.43
Total Trades 60
Won Trades 46
Lost trades 14
Win Rate 76.67 %
Expected payoff -80.19
Gross Profit 3600.70
Gross Loss -8412.10
Total Net Profit -4811.40
-100%
-50%
0%
50%
100%
View Full Report
USD/JPY Jul 2025 - Sep 2025
0.39
Total Trades 114
Won Trades 95
Lost trades 19
Win Rate 83.33 %
Expected payoff -79.87
Gross Profit 5763.84
Gross Loss -14869.08
Total Net Profit -9105.24
-100%
-50%
0%
50%
100%
View Full Report
GBP/USD Jul 2025 - Sep 2025
0.28
Total Trades 31
Won Trades 23
Lost trades 8
Win Rate 74.19 %
Expected payoff -279.09
Gross Profit 3336.60
Gross Loss -11988.30
Total Net Profit -8651.70
-100%
-50%
0%
50%
100%
View Full Report
AUD/USD Jul 2025 - Sep 2025
0.16
Total Trades 29
Won Trades 17
Lost trades 12
Win Rate 58.62 %
Expected payoff -148.10
Gross Profit 810.50
Gross Loss -5105.40
Total Net Profit -4294.90
-100%
-50%
0%
50%
100%
View Full Report
GBP/CAD Jul 2025 - Sep 2025
0.00
Total Trades 11
Won Trades 11
Lost trades 0
Win Rate 100.00 %
Expected payoff 156.39
Gross Profit 1720.31
Gross Loss 0.00
Total Net Profit 1720.31
-100%
-50%
0%
50%
100%
View Full Report
USD/CAD Jul 2025 - Sep 2025
0.00
Total Trades 0
Won Trades 0
Lost trades 0
Win Rate 0.0 %
Expected payoff 0.00
Gross Profit 0.00
Gross Loss 0.00
Total Net Profit 0.00
-100%
-50%
0%
50%
100%
View Full Report

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