Level Scalper v4

Author: djindyfx@sbcglobal.net
Profit factor:
0.56

This script is designed to automatically place and manage a series of buy and sell orders around the current market price, aiming to profit from small price fluctuations. It's like setting up a "price trap" that tries to catch movement in either direction.

Here's a breakdown of how it works:

  1. Initial Setup:

    • The script starts by reading settings you provide, such as how far apart the orders should be (in "pips"), how many orders to place above and below the current price, and the size of each order ("lots").
    • It also checks if a specific time of day is set for trading, and whether existing trades should be closed.

  2. Checking Existing Orders:

    • The script examines all currently open and pending orders on the trading platform.
    • It counts how many of these orders belong to this script (identified by a unique "magic number") and are for the specific currency pair.
    • It also remembers the initial price at which it started placing the orders.

  3. Order Placement Logic:

    • If no orders exist: It places a set of "buy stop" and "sell stop" orders. Buy stop orders are placed at incrementally higher prices above the current price, and sell stop orders are placed at incrementally lower prices below the current price. It's like setting up a ladder of orders on both sides of the market.
    • If orders already exist: The script checks if the price has reached certain target levels (take profit or stop loss) related to the initial price.

  4. Monitoring and Adjustment:

    • The script calculates potential profit from the buys and the sells.
    • If profits are less than a target, the script add new buy or sell orders if certain price conditions are met.

  5. Closing Orders:

    • If the price hits a predefined profit target, the script closes all open and pending orders.
    • There's also a setting to close all orders immediately, regardless of profit or loss.

  6. On-Screen Display:

    • The script displays information on the chart, such as the lot size, the number of levels, target prices and the total number of trades that the script has open.

In essence, this script aims to automatically create a grid of pending orders around a starting price, hoping to profit from price movements within that grid. It monitors the progress of these orders and makes adjustments (adding more orders or closing everything) based on your settings and the current market conditions.

Orders Execution
Checks for the total of open ordersIt automatically opens orders when conditions are reachedIt Closes Orders by itself
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Level Scalper v4 
//+------------------------------------------------------------------+
//|                                             Level Scalper V4.mq4 |
//|                                           djindyfx@sbcglobal.net |
//|      http://www.learncurrencytrading.com/fxforum/blogs/djindyfx/ |
//+------------------------------------------------------------------+
#property copyright "djindyfx@sbcglobal.net"
#property link      "http://www.learncurrencytrading.com/fxforum/blogs/djindyfx/"

//---- input parameters -----
extern int        pips=10; // Distance between levels
extern double     lots=0.1;
extern int        FixedSpread=4;
extern int        NbLevels=5; // Number of levels of the pending orders (for each target, buy and sell)
extern bool       ContinueTrading=false;

// ----- Kill all trades -----
extern bool       CloseAllOrders=false;

// ----- Entry times / Start Times -----
extern bool       UseEntryTime=false;
extern int        EntryTime=0;

// ----- EA Display Settings -----
  extern string note = "EA Display Settings";
  extern int      WhatCorner=1;
  extern color    FontColor = LawnGreen;
  extern int      FontSize=10;
  extern string   FontType="Calibri";
  extern int      MoveUpDown = 15 ;
  extern int      SideDistance = 2;

// -----Global Fixed Variables
bool closing = true;
bool Enter = true;
int Magic = 20080825;
int ProfitTarget=0; 

//+------------------------------------------------------------------+
//| expert initialization function                                   |
//+------------------------------------------------------------------+
int init()
  {
//----
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| expert deinitialization function                                 |
//+------------------------------------------------------------------+
int deinit()
  {
//---- Delete All Items from the Screen -----
   ObjectDelete("ObjLots_Label");
   ObjectDelete("ObjBuyGoal_Label");
   ObjectDelete("ObjBuyGoalProfit_Label");
   ObjectDelete("ObjSellGoal_Label");
   ObjectDelete("ObjSellGoalProfit_Label");
   ObjectDelete("ObjLevels_Label");
   ObjectDelete("ObjPairTotal_Label");
   ObjectDelete("ObjInitialprice_Label");
   ObjectDelete("ObjSellGoalStop_Label");
   ObjectDelete("ObjBuyGoalStop_Label");
   ObjectDelete("ObjContinueTrading_Label");
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| expert start function                                            |
//+------------------------------------------------------------------+
int start()
  {
   int ticket=0, cpt=0, profit=0, total=0, pairtotal=0, BuyGoalProfit=0, SellGoalProfit=0, PipsLot;
   double BuyGoal=0, BuyGoalStop=0, SellGoal=0, SellGoalStop=0, spread=FixedSpread, InitialPrice=0;
//----
   if(pips<MarketInfo(Symbol(),MODE_STOPLEVEL)+spread) pips=1+MarketInfo(Symbol(),MODE_STOPLEVEL)+spread;
   if(lots<MarketInfo(Symbol(),MODE_MINLOT)) lots=MarketInfo(Symbol(),MODE_MINLOT);
   for(cpt=0;cpt<OrdersTotal();cpt++)
   {
      OrderSelect(cpt,SELECT_BY_POS,MODE_TRADES);
      if(OrderSymbol()==Symbol()&& OrderMagicNumber()==Magic)
      {
         pairtotal++;
         if(!InitialPrice) InitialPrice=StrToDouble(OrderComment());
      }
   }
   // ----- Kill all Open / Pending Orders -----
   if(CloseAllOrders == true) {KillSession();return(0);}
   
   if(closing == true && pairtotal>=1) {EndSession();return(0);}
  
   if(pairtotal==0 && Enter && (!UseEntryTime || (UseEntryTime && Hour()==EntryTime))) //we can set up a new "price catcher"
   {
      closing = false;
      InitialPrice=Ask;
      
      // ----- Take Profit / Stop Loss set up -----
      BuyGoal=InitialPrice+(NbLevels+1)*pips*Point;
      SellGoal=InitialPrice-(NbLevels+1)*pips*Point;
      BuyGoalStop = SellGoal-spread*Point;
      SellGoalStop = BuyGoal+spread*Point;

      for(cpt=1;cpt<=NbLevels;cpt++)
      {
         OrderSend(Symbol(),OP_BUYSTOP,lots,InitialPrice+cpt*pips*Point,2,BuyGoalStop,BuyGoal,DoubleToStr(InitialPrice,MarketInfo(Symbol(),MODE_DIGITS)),Magic,0);
         OrderSend(Symbol(),OP_SELLSTOP,lots,InitialPrice-cpt*pips*Point,2,SellGoalStop,SellGoal,DoubleToStr(InitialPrice,MarketInfo(Symbol(),MODE_DIGITS)),Magic,0);
      }
    }
    else // We have open Orders
    {
      // ----- Add more levels -----
      BuyGoal=InitialPrice+(NbLevels+1)*pips*Point;
      SellGoal=InitialPrice-(NbLevels+1)*pips*Point;
      BuyGoalStop = SellGoal-spread*Point;
      SellGoalStop = BuyGoal+spread*Point;
      
      // ----- Close all Pending orders after TP / SL is hit -----
      if(Bid>=BuyGoal){closing = true; EndSession();return(0);}
      if(Ask<=SellGoal){closing = true; EndSession();return(0);}

      // ----- continue Closing all pending orders -----
      if(closing==true) {EndSession();return(0);}

      // -----Check Profits -----
      BuyGoalProfit=CheckProfits(lots,OP_BUY,false,InitialPrice);
      SellGoalProfit=CheckProfits(lots,OP_SELL,false,InitialPrice);

      if(BuyGoalProfit<ProfitTarget)
      // - Incriment Lots Buy
      {
         for(cpt=NbLevels;cpt>=1; cpt--)
         {
            if(Ask<=(InitialPrice+(cpt*pips-MarketInfo(Symbol(),MODE_STOPLEVEL))*Point))
            {
               ticket=OrderSend(Symbol(),OP_BUYSTOP,cpt*lots,InitialPrice+cpt*pips*Point,2,BuyGoalStop,BuyGoal,DoubleToStr(InitialPrice,MarketInfo(Symbol(),MODE_DIGITS)),Magic,0);
            }
            if(ticket>0) BuyGoalProfit+=lots*(BuyGoal-InitialPrice-cpt*pips*Point)/Point;
         }
      }
      if(SellGoalProfit<ProfitTarget)
      // - Incriment Lots Sell
      {
         for(cpt=NbLevels;cpt>=1; cpt--)
         {
            if(Bid>=(InitialPrice-(cpt*pips-MarketInfo(Symbol(),MODE_STOPLEVEL))*Point))
            {
               ticket=OrderSend(Symbol(),OP_SELLSTOP,cpt*lots,InitialPrice-cpt*pips*Point,2,SellGoalStop,SellGoal,DoubleToStr(InitialPrice,MarketInfo(Symbol(),MODE_DIGITS)),Magic,0);
            }
            if(ticket>0) SellGoalProfit+=lots*(InitialPrice-SellGoal-cpt*pips*Point)/Point;
         }
      }
   }
   
   
   // ----- Object Data Set up -----
   
   string ObjLots= DoubleToStr(lots,2);
   string ObjPips = pips;
   string ObjLevels = NbLevels;
   string ObjBuyGoal = DoubleToStr(BuyGoal,Digits);
   string ObjBuyGoalProfit = BuyGoalProfit;
   string ObjSellGoal = DoubleToStr(SellGoal,Digits);
   string ObjSellGoalProfit = SellGoalProfit;
   string ObjPairTotal = pairtotal;
   string ObjInitialprice = DoubleToStr(InitialPrice,Digits);
   string ObjBuyGoalStop = DoubleToStr(BuyGoalStop,Digits);
   string ObjSellGoalStop = DoubleToStr(SellGoalStop,Digits);
   string ObjContinueTrading = ContinueTrading;
   
//----- Object Distances

   int YInitialDistance, Ydist01, Ydist02, Ydist03, Ydist04, Ydist05, Ydist06, Ydist07, Ydist08, Ydist09, DistFromSide, YDistInc;
   DistFromSide = SideDistance;
   
   YInitialDistance = MoveUpDown;
   YDistInc = 15;
   Ydist01 = YInitialDistance + YDistInc;
   Ydist02 = Ydist01 + YDistInc +10;
   Ydist03 = Ydist02 + YDistInc;
   Ydist04 = Ydist03 + YDistInc;
   Ydist05 = Ydist04 + YDistInc +10;
   Ydist06 = Ydist05 + YDistInc;
   Ydist07 = Ydist06 + YDistInc+10;
   Ydist08 = Ydist07 + YDistInc;
   Ydist09 = Ydist08 + YDistInc;
   
   //----- Screen Data

  ObjectCreate("ObjContinueTrading_Label", OBJ_LABEL, 0, 0, 0);
  ObjectSetText("ObjContinueTrading_Label", "Continuous Trade " + ObjContinueTrading, FontSize, FontType, FontColor);
  ObjectSet("ObjContinueTrading_Label", OBJPROP_CORNER, WhatCorner);
  ObjectSet("ObjContinueTrading_Label", OBJPROP_XDISTANCE, DistFromSide);
  ObjectSet("ObjContinueTrading_Label", OBJPROP_YDISTANCE, YInitialDistance);
  
  ObjectCreate("ObjLots_Label", OBJ_LABEL, 0, 0, 0);
  ObjectSetText("ObjLots_Label", "Lots " + ObjLots, FontSize, FontType, FontColor);
  ObjectSet("ObjLots_Label", OBJPROP_CORNER, WhatCorner);
  ObjectSet("ObjLots_Label", OBJPROP_XDISTANCE, DistFromSide);
  ObjectSet("ObjLots_Label", OBJPROP_YDISTANCE, Ydist01);
  
  ObjectCreate("ObjLevels_Label", OBJ_LABEL, 0, 0, 0);
  ObjectSetText("ObjLevels_Label", "Levels " + ObjLevels, FontSize, FontType, FontColor);
  ObjectSet("ObjLevels_Label", OBJPROP_CORNER, WhatCorner);
  ObjectSet("ObjLevels_Label", OBJPROP_XDISTANCE, DistFromSide+60);
  ObjectSet("ObjLevels_Label", OBJPROP_YDISTANCE, Ydist01);
  
  ObjectCreate("ObjInitialprice_Label", OBJ_LABEL, 0, 0, 0);
  ObjectSetText("ObjInitialprice_Label", "Start Price " + ObjInitialprice, FontSize, FontType, FontColor);
  ObjectSet("ObjInitialprice_Label", OBJPROP_CORNER, WhatCorner);
  ObjectSet("ObjInitialprice_Label", OBJPROP_XDISTANCE, DistFromSide);
  ObjectSet("ObjInitialprice_Label", OBJPROP_YDISTANCE, Ydist02);
  
  ObjectCreate("ObjBuyGoal_Label", OBJ_LABEL, 0, 0, 0);
  ObjectSetText("ObjBuyGoal_Label", "Buy TP " + ObjBuyGoal, FontSize, FontType, FontColor);
  ObjectSet("ObjBuyGoal_Label", OBJPROP_CORNER, WhatCorner);
  ObjectSet("ObjBuyGoal_Label", OBJPROP_XDISTANCE, DistFromSide);
  ObjectSet("ObjBuyGoal_Label", OBJPROP_YDISTANCE, Ydist03);

  ObjectCreate("ObjSellGoal_Label", OBJ_LABEL, 0, 0, 0);
  ObjectSetText("ObjSellGoal_Label", "Sell TP " + ObjSellGoal, FontSize, FontType, FontColor);
  ObjectSet("ObjSellGoal_Label", OBJPROP_CORNER, WhatCorner);
  ObjectSet("ObjSellGoal_Label", OBJPROP_XDISTANCE, DistFromSide);
  ObjectSet("ObjSellGoal_Label", OBJPROP_YDISTANCE, Ydist04);

  ObjectCreate("ObjBuyGoalProfit_Label", OBJ_LABEL, 0, 0, 0);
  ObjectSetText("ObjBuyGoalProfit_Label", "Buy Pips  " + ObjBuyGoalProfit, FontSize, FontType, FontColor);
  ObjectSet("ObjBuyGoalProfit_Label", OBJPROP_CORNER, WhatCorner);
  ObjectSet("ObjBuyGoalProfit_Label", OBJPROP_XDISTANCE, DistFromSide);
  ObjectSet("ObjBuyGoalProfit_Label", OBJPROP_YDISTANCE, Ydist05);

  ObjectCreate("ObjSellGoalProfit_Label", OBJ_LABEL, 0, 0, 0);
  ObjectSetText("ObjSellGoalProfit_Label", "Sell Pips  " + ObjSellGoalProfit, FontSize, FontType, FontColor);
  ObjectSet("ObjSellGoalProfit_Label", OBJPROP_CORNER, WhatCorner);
  ObjectSet("ObjSellGoalProfit_Label", OBJPROP_XDISTANCE, DistFromSide);
  ObjectSet("ObjSellGoalProfit_Label", OBJPROP_YDISTANCE, Ydist06);

  ObjectCreate("ObjPairTotal_Label", OBJ_LABEL, 0, 0, 0);
  ObjectSetText("ObjPairTotal_Label", "Total Trades  " + ObjPairTotal, FontSize, FontType, FontColor);
  ObjectSet("ObjPairTotal_Label", OBJPROP_CORNER, WhatCorner);
  ObjectSet("ObjPairTotal_Label", OBJPROP_XDISTANCE, DistFromSide);
  ObjectSet("ObjPairTotal_Label", OBJPROP_YDISTANCE, Ydist07);

/* 
  ObjectCreate("ObjBuyGoalStop_Label", OBJ_LABEL, 0, 0, 0);
  ObjectSetText("ObjBuyGoalStop_Label", "Buy SL " + ObjBuyGoalStop, FontSize, FontType, FontColor);
  ObjectSet("ObjBuyGoalStop_Label", OBJPROP_CORNER, WhatCorner);
  ObjectSet("ObjBuyGoalStop_Label", OBJPROP_XDISTANCE, DistFromSide);
  ObjectSet("ObjBuyGoalStop_Label", OBJPROP_YDISTANCE, Ydist04);

  ObjectCreate("ObjSellGoalStop_Label", OBJ_LABEL, 0, 0, 0);
  ObjectSetText("ObjSellGoalStop_Label", "Sell SL " + ObjSellGoalStop, FontSize, FontType, FontColor);
  ObjectSet("ObjSellGoalStop_Label", OBJPROP_CORNER, WhatCorner);
  ObjectSet("ObjSellGoalStop_Label", OBJPROP_XDISTANCE, DistFromSide);
  ObjectSet("ObjSellGoalStop_Label", OBJPROP_YDISTANCE, Ydist07);
*/

    
//----
   return(0);
  }
//+------------------------------------------------------------------+

int CheckProfits(double lots, int Goal, bool Current, double InitialPrice)
{
   int profit=0, cpt;
   if(Current)//return current profit
   {
      for(cpt=0;cpt<OrdersTotal();cpt++)
      {
         OrderSelect(cpt, SELECT_BY_POS, MODE_TRADES);
         if(OrderSymbol()==Symbol() && OrderMagicNumber() == Magic && StrToDouble(OrderComment())==InitialPrice)
         {
            if(OrderType()==OP_BUY) profit+=(Bid-OrderOpenPrice())/Point*OrderLots()/lots;
            if(OrderType()==OP_SELL) profit+=(OrderOpenPrice()-Ask)/Point*OrderLots()/lots;
         }
      }
      return(profit);
   }
   else
   {
      if(Goal==OP_BUY)
      {
         for(cpt=0;cpt<OrdersTotal();cpt++)
         {
            OrderSelect(cpt, SELECT_BY_POS, MODE_TRADES);
            if(OrderSymbol()==Symbol() && OrderMagicNumber() == Magic && StrToDouble(OrderComment())==InitialPrice)
            {
               if(OrderType()==OP_BUY) profit+=(OrderTakeProfit()-OrderOpenPrice())/Point*OrderLots()/lots;
               if(OrderType()==OP_SELL) profit-=(OrderStopLoss()-OrderOpenPrice())/Point*OrderLots()/lots;
               if(OrderType()==OP_BUYSTOP) profit+=(OrderTakeProfit()-OrderOpenPrice())/Point*OrderLots()/lots;
            }
         }
         return(profit);
      }
      else
      {
         for(cpt=0;cpt<OrdersTotal();cpt++)
         {
            OrderSelect(cpt, SELECT_BY_POS, MODE_TRADES);
            if(OrderSymbol()==Symbol() && OrderMagicNumber() == Magic && StrToDouble(OrderComment())==InitialPrice)
            {
               if(OrderType()==OP_BUY) profit-=(OrderOpenPrice()-OrderStopLoss())/Point*OrderLots()/lots;
               if(OrderType()==OP_SELL) profit+=(OrderOpenPrice()-OrderTakeProfit())/Point*OrderLots()/lots;
               if(OrderType()==OP_SELLSTOP) profit+=(OrderOpenPrice()-OrderTakeProfit())/Point*OrderLots()/lots;
               
            }
         }
         return(profit);
      }
   }
}

bool EndSession()
{
   int OrderCnt, total=OrdersTotal();
   for(OrderCnt=0;OrderCnt<total;OrderCnt++)
   {
      OrderSelect(OrderCnt,SELECT_BY_POS,MODE_TRADES);
      if(OrderSymbol()==Symbol() && OrderMagicNumber()== Magic && OrderType()>0) OrderDelete(OrderTicket());
    }
      if(!ContinueTrading)  Enter=false;
      return(true);
}


bool KillSession()
{
   int OrderCnt, total=OrdersTotal();
   for(OrderCnt=0;OrderCnt<total;OrderCnt++)
   {
      OrderSelect(OrderCnt,SELECT_BY_POS,MODE_TRADES);
      if(OrderSymbol()==Symbol() && OrderMagicNumber()== Magic && OrderType()== OP_BUYSTOP) OrderDelete(OrderTicket());
      else if(OrderSymbol()==Symbol() && OrderMagicNumber() == Magic && OrderType() == OP_SELLSTOP) OrderDelete(OrderTicket());      
      else if(OrderSymbol()==Symbol() && OrderMagicNumber() == Magic && OrderType() ==OP_BUY) OrderClose(OrderTicket(),OrderLots(),Bid,3);
      else if(OrderSymbol()==Symbol() && OrderMagicNumber() == Magic && OrderType() ==OP_SELL) OrderClose(OrderTicket(),OrderLots(),Ask,3);
       
    }
      if(!ContinueTrading)  Enter=false;
      return(true);
}

// -----  revision notes ------
/*
   V 2
1)  corrected code errors where is looks through the orders.  It must find the Magic # before addition is done
   V 3
2)  Added KillSession so that all trades could be closed.
   V 4
3)  Adjusted Text for on screen display




*/

Profitability Reports

GBP/AUD Jan 2025 - Jul 2025
0.94
Total Trades 22
Won Trades 12
Lost trades 10
Win Rate 54.55 %
Expected payoff -0.15
Gross Profit 54.41
Gross Loss -57.61
Total Net Profit -3.20
-100%
-50%
0%
50%
100%
View Full Report
EUR/USD Jan 2025 - Jul 2025
1.35
Total Trades 5
Won Trades 4
Lost trades 1
Win Rate 80.00 %
Expected payoff 0.52
Gross Profit 10.00
Gross Loss -7.40
Total Net Profit 2.60
-100%
-50%
0%
50%
100%
View Full Report
AUD/USD Jan 2025 - Jul 2025
0.00
Total Trades 5
Won Trades 5
Lost trades 0
Win Rate 100.00 %
Expected payoff 3.00
Gross Profit 15.00
Gross Loss 0.00
Total Net Profit 15.00
-100%
-50%
0%
50%
100%
View Full Report
NZD/USD Oct 2024 - Jan 2025
0.00
Total Trades 4
Won Trades 4
Lost trades 0
Win Rate 100.00 %
Expected payoff 2.50
Gross Profit 10.00
Gross Loss 0.00
Total Net Profit 10.00
-100%
-50%
0%
50%
100%
View Full Report
GBP/USD Oct 2024 - Jan 2025
0.00
Total Trades 4
Won Trades 4
Lost trades 0
Win Rate 100.00 %
Expected payoff 2.50
Gross Profit 10.00
Gross Loss 0.00
Total Net Profit 10.00
-100%
-50%
0%
50%
100%
View Full Report
AUD/USD Oct 2024 - Jan 2025
1.07
Total Trades 68
Won Trades 0
Lost trades 0
Win Rate 0.00 %
Expected payoff 0.28
Gross Profit 290.00
Gross Loss -271.20
Total Net Profit 18.80
-100%
-50%
0%
50%
100%
View Full Report

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