This script is designed for the MetaTrader platform and automates trading based on "Envelope" indicators. Think of Envelopes as bands drawn around a moving average of the price. The script watches these bands and places orders when certain conditions are met.
Here's the breakdown:
-
Setup & Customization: The script starts by letting you set several parameters. These are like dials and switches that allow you to customize how the script works. Important settings include:
- The period and timeframe for calculating the Envelopes (how far back to look when calculating the average price and the bands).
- The deviation of the Envelope bands (how far away from the average price the bands are drawn).
- The hours of the day during which the script will be active.
- Take profit levels, which determine how much profit to target on each trade.
- Lot size, which determines the size of the trades. This can be fixed or automatically calculated based on account risk.
-
Calculating Lot Size: The script can automatically adjust the size of trades (lots) based on how much money you have in your account and your tolerance for risk. If you've had a series of losing trades, it can reduce the lot size to protect your account.
-
Identifying Trading Opportunities: The script constantly monitors the price relative to the Envelope bands. Specifically, it looks for situations where the price is between the upper and lower Envelope bands.
-
Placing Orders: When the script identifies a potential trading opportunity (price is between bands during the specified hours), it places pending orders. A "pending order" is an instruction to the trading platform to automatically execute a trade if the price reaches a specific level. The script places both "Buy Stop" orders (to profit from upward price movement) and "Sell Stop" orders (to profit from downward price movement). It places multiple orders for each direction, each with a different take profit level.
-
Trailing Stop Loss: The script also implements a "trailing stop loss." This is a protective order that automatically adjusts as the price moves in a favorable direction. The stop loss follows the price, locking in profits and limiting potential losses. The position of the stop loss is determined based on the Envelope indicators or the moving average, depending on the settings chosen by the user.
-
Order Management: The script keeps track of the orders it has placed. If the trading day ends (as defined by the
TimeCloseparameter) and any pending orders haven't been triggered, the script cancels them. It also keeps track of already closed positions.
In short, this script uses Envelope indicators to identify potential buy and sell opportunities, automatically places orders, manages risk with a trailing stop loss, and closes any remaining pending orders at the end of the trading day. It aims to automate a trading strategy based on price movements within Envelope bands.
Orders Execution
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Envelope 2.11_all_eurusdm15_v1
//+------------------------------------------------------------------+
//| Envelope 2.mq4 |
//| tageiger |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "tageiger"
#property link "http://www.metaquotes.net"
//---- input parameters
extern int Magic = 11000;
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;
extern double DecreaseFactor =5;
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
NZD/USD
Jul 2025 - Sep 2025
0.68
Total Trades
60
Won Trades
43
Lost trades
17
Win Rate
71.67 %
Expected payoff
-4.45
Gross Profit
569.40
Gross Loss
-836.40
Total Net Profit
-267.00
-100%
-50%
0%
50%
100%
GBP/USD
Jul 2025 - Sep 2025
0.33
Total Trades
34
Won Trades
24
Lost trades
10
Win Rate
70.59 %
Expected payoff
-20.95
Gross Profit
349.50
Gross Loss
-1061.80
Total Net Profit
-712.30
-100%
-50%
0%
50%
100%
GBP/CAD
Jul 2025 - Sep 2025
0.00
Total Trades
11
Won Trades
11
Lost trades
0
Win Rate
100.00 %
Expected payoff
10.59
Gross Profit
116.46
Gross Loss
0.00
Total Net Profit
116.46
-100%
-50%
0%
50%
100%
GBP/AUD
Jul 2025 - Sep 2025
1.07
Total Trades
12
Won Trades
11
Lost trades
1
Win Rate
91.67 %
Expected payoff
0.55
Gross Profit
105.97
Gross Loss
-99.40
Total Net Profit
6.57
-100%
-50%
0%
50%
100%
EUR/USD
Jul 2025 - Sep 2025
7360.21
Total Trades
1974
Won Trades
1970
Lost trades
4
Win Rate
99.80 %
Expected payoff
1300.35
Gross Profit
2567241.70
Gross Loss
-348.80
Total Net Profit
2566892.90
-100%
-50%
0%
50%
100%
AUD/USD
Jul 2025 - Sep 2025
0.47
Total Trades
29
Won Trades
17
Lost trades
12
Win Rate
58.62 %
Expected payoff
-9.01
Gross Profit
227.50
Gross Loss
-488.80
Total Net Profit
-261.30
-100%
-50%
0%
50%
100%
USD/CHF
Jul 2025 - Sep 2025
0.59
Total Trades
57
Won Trades
43
Lost trades
14
Win Rate
75.44 %
Expected payoff
-8.71
Gross Profit
718.37
Gross Loss
-1214.63
Total Net Profit
-496.26
-100%
-50%
0%
50%
100%
NZD/USD
Jul 2025 - Sep 2025
0.96
Total Trades
84
Won Trades
68
Lost trades
16
Win Rate
80.95 %
Expected payoff
-0.48
Gross Profit
857.70
Gross Loss
-898.10
Total Net Profit
-40.40
-100%
-50%
0%
50%
100%
GBP/USD
Jul 2025 - Sep 2025
1.21
Total Trades
77
Won Trades
71
Lost trades
6
Win Rate
92.21 %
Expected payoff
2.24
Gross Profit
994.30
Gross Loss
-822.00
Total Net Profit
172.30
-100%
-50%
0%
50%
100%
GBP/CAD
Jul 2025 - Sep 2025
0.62
Total Trades
19
Won Trades
16
Lost trades
3
Win Rate
84.21 %
Expected payoff
-5.03
Gross Profit
154.11
Gross Loss
-249.71
Total Net Profit
-95.60
-100%
-50%
0%
50%
100%
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