Okay, here's a breakdown of what this MetaTrader script does, explained without technical jargon:
This script is designed to automatically trade on the Forex market based on a few key ideas:
-
Trend Following (Weekly Trend): The script first tries to figure out the overall trend of a specific currency pair on a weekly basis. It uses a calculation called MACD to estimate if the price is generally going up (uptrend), going down (downtrend) or moving sideways (neutral).
-
Money Management: The script uses a money management system to decide how much to invest in each trade. There are several options here:
- Fixed Lot Size: Use a specific amount for each trade, defined by you.
- Risk-Based Lot Sizing: Calculate the investment based on how much you are willing to risk on each trade as a percentage of your total account balance. This helps manage risk.
-
Order Management (Pending Orders): The script manages pending orders, which are instructions to automatically buy or sell when the price reaches a specific level. It will cancel some or modify the price level of the pending orders based on trend.
-
Trailing Stop: This is a feature to protect profits. If a trade starts making money, the stop-loss order (an automatic exit point to limit losses) is automatically adjusted to lock in some of those profits.
-
New Order Placement: If there are no open orders for a currency pair, the script will consider placing new pending orders to either buy or sell. The entry price for these new pending orders is based on the previous day's trading range and the current weekly trend, but it will only proceed if the planned order entry price is at least 16 points away from the current price.
In more detail, the script operates as follows:
- Initialization: When the script starts, it doesn't do much initially. It just prepares itself to run.
- Main Loop: The script runs repeatedly to check market conditions and manage trades, only every 5 mins after the first run. It performs these actions in each run:
- Determine Weekly Trend: It calculates the overall trend (up, down, or neutral) for the currency pair.
- Manage Open Orders: It looks at any pending orders to see if adjustments are needed and delete it if necessary.
- Apply Trailing Stop: It automatically adjusts stop-loss orders on profitable trades to lock in gains.
- Open New Orders: If there are no open positions for the currency pair, it decides whether to place a new buy or sell order based on trend indicators and the previous day's price movement.
Price Data Components
Orders Execution
Indicators Used
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TSD v1.1
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| TSD v1-1.mq4 |
//| |
//| |
//+------------------------------------------------------------------+
#property copyright ""
#property link ""
//---
extern double Lots = 1;
//extern int StopLoss = 0;
extern int TakeProfit = 999;
extern int TrailingStop = 60;
int Slippage = 0;
//---Money Management Parameters
extern int Risk=5;
extern int mm=0;
extern int LiveTrading=0;
extern int AccountIsMini=0;
extern int maxTradesPerPair=1;
datetime NewWeeklyBar;
bool RunOnce=false;
double lotMM=0;
int LotSize=10000,LotMax=50,MarginChoke=500;
int WeeklyDirection;
//+------------------------------------------------------------------+
//| expert initialization function |
//+------------------------------------------------------------------+
int init()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert start function |
//+------------------------------------------------------------------+
int start()
{
//----
// Run checks
if(RunOnce && MathMod(TimeMinute(CurTime()),5)!=0)return(0); //after the first run of the EA, it only runs every 5 mins
// This function determines the weekly trend
SetWeeklyTrend();
// Manage current open orders and trades
RunPendingOrderManagement(Symbol(),"TSD");
RunTrailingStop(Symbol(),"TSD");
// Open New Orders
if(!SetLotsMM())return(0);
RunNewOrderManagement(Symbol(),"TSD");
RunOnce=true;
//----
return(0);
}
//+------------------------------------------------------------------+
/////////////////////////////////////////////////
// WeeklyTrend
/////////////////////////////////////////////////
bool SetWeeklyTrend(){
double MACD_0,MACD_1,MACD_2;
MACD_0 = iMACD(Symbol(),PERIOD_W1,12,26,9,PRICE_CLOSE,MODE_MAIN,0);
MACD_1 = iMACD(Symbol(),PERIOD_W1,12,26,9,PRICE_CLOSE,MODE_MAIN,1);
MACD_2 = iMACD(Symbol(),PERIOD_W1,12,26,9,PRICE_CLOSE,MODE_MAIN,2);
if(MACD_1 > MACD_2) WeeklyDirection = 1;
if(MACD_1 < MACD_2) WeeklyDirection = -1;
if(MACD_1 == MACD_2) WeeklyDirection = 0;
if(WeeklyDirection==1) Comment("\nWeekly Trend for "+Symbol()+" = UP TREND");
if(WeeklyDirection==-1) Comment("\nWeekly Trend for "+Symbol()+" = DOWN TREND");
if(WeeklyDirection==0) Comment("\nWeekly Trend for "+Symbol()+" = NEUTRAL TREND");
return(true);
}
/////////////////////////////////////////////////
// LastOrderCloseTime
/////////////////////////////////////////////////
datetime LastOrderCloseTimeAll(){
datetime loct;
for(int x=0;x<HistoryTotal();x++){
OrderSelect(x, SELECT_BY_POS, MODE_HISTORY);
if(OrderCloseTime()>loct){
loct=OrderCloseTime();
}
}
return(loct);
}
datetime LastOrderCloseTimeBySymbol(string sym){
datetime loct;
for(int x=0;x<HistoryTotal();x++){
OrderSelect(x, SELECT_BY_POS, MODE_HISTORY);
if(OrderSymbol()==sym){
if(OrderCloseTime()>loct){
loct=OrderCloseTime();
}
}
}
return(loct);
}
/////////////////////////////////////////////////
// OpenOrdersBySymbolAndComment
/////////////////////////////////////////////////
int OpenOrdersBySymbolAndComment(string sym, string comm){
int ofts=0;
for(int x=0;x<OrdersTotal();x++){
OrderSelect(x, SELECT_BY_POS, MODE_TRADES);
if(OrderSymbol()==Symbol() && StringSubstr(OrderComment(),0,StringLen(comm))==comm){
ofts++;
}
}
return(ofts);
}
/////////////////////////////////////////////////
// SetLotsMM
/////////////////////////////////////////////////
bool SetLotsMM(){
double MarginCutoff;
if(AccountIsMini == 0) MarginCutoff = 1000;
if(AccountIsMini == 1) MarginCutoff = 100;
if(AccountFreeMargin() < MarginCutoff)return(false);
if(mm != 0){
lotMM = MathCeil(AccountBalance() * Risk / 10000) / 10;
if(lotMM < 0.1) lotMM = Lots;
if(lotMM > 1.0) lotMM = MathCeil(lotMM);
// Enforce lot size boundaries
if(LiveTrading == 1){
if(AccountIsMini == 1 ) lotMM = lotMM * 10;
if(AccountIsMini == 0 && lotMM < 1.0) lotMM = 1.0;
}
if(lotMM > 100) lotMM = 100;
}
else{
lotMM = Lots; // Change mm to 0 if you want the Lots parameter to be in effect
}
return(true);
}
/////////////////////////////////////////////////
// RunPendingOrderManagement
/////////////////////////////////////////////////
bool RunPendingOrderManagement(string sym, string comm){
if( OpenOrdersBySymbolAndComment(sym,comm) > 0 ){
for ( int i = 0; i < OrdersTotal(); i++){
OrderSelect(i, SELECT_BY_POS, MODE_TRADES);
//--- LONG TRADES
if(OrderType() == OP_BUYSTOP && OrderSymbol() == sym && StringSubstr(OrderComment(),0,StringLen(comm))==comm){
if(WeeklyDirection==-1){
OrderDelete(OrderTicket());
continue;
}
if( iHigh(Symbol(),PERIOD_D1,1) < iHigh(Symbol(),PERIOD_D1,2) ){
if( iHigh(Symbol(),PERIOD_D1,1) > (Ask + 16*Point) ){
OrderModify(OrderTicket(),iHigh(Symbol(),PERIOD_D1,1) + 1*Point,iLow(Symbol(),PERIOD_D1,1) - 1*Point,OrderTakeProfit(),OrderExpiration(),Green);
continue;
}
}
}
//--- SHORT TRADES
if(OrderType() == OP_SELLSTOP && OrderSymbol() == sym && StringSubstr(OrderComment(),0,StringLen(comm))==comm){
if(WeeklyDirection==1){
OrderDelete(OrderTicket());
continue;
}
if( iLow(Symbol(),PERIOD_D1,1) > iLow(Symbol(),PERIOD_D1,2) ){
if( iLow(Symbol(),PERIOD_D1,1) < (Bid - 16*Point) ){
OrderModify(OrderTicket(),iLow(Symbol(),PERIOD_D1,1) - 1*Point,iHigh(Symbol(),PERIOD_D1,1) + 1*Point,OrderTakeProfit(),OrderExpiration(),Blue);
continue;
}
}
}
}
}
}
/////////////////////////////////////////////////
// RunTrailingStop
/////////////////////////////////////////////////
bool RunTrailingStop(string sym, string comm){
if( OpenOrdersBySymbolAndComment(sym,comm) > 0 ){
double Buy_Tp,Sell_Tp;
for ( int i = 0; i < OrdersTotal(); i++){
OrderSelect(i, SELECT_BY_POS, MODE_TRADES);
//--- LONG TRADES
if(OrderType() == OP_BUY && OrderSymbol() == sym && StringSubstr(OrderComment(),0,StringLen(comm))==comm){
if (Bid - OrderOpenPrice() >= TrailingStop * Point){
if (OrderStopLoss() < Bid - TrailingStop * Point || OrderStopLoss() == 0){
OrderModify(OrderTicket(), OrderOpenPrice(), Bid - TrailingStop * Point, OrderTakeProfit(), Red);
}
}
}
//--- SHORT TRADES
if(OrderType() == OP_SELL && OrderSymbol() == sym && StringSubstr(OrderComment(),0,StringLen(comm))==comm){
if(OrderOpenPrice() - Ask >= TrailingStop * Point){
if((OrderStopLoss() > Ask + TrailingStop * Point) || OrderStopLoss() == 0){
OrderModify(OrderTicket(), OrderOpenPrice(),Ask + TrailingStop * Point, OrderTakeProfit(), Blue);
}
}
}
}
}
}
/////////////////////////////////////////////////
// RunNewOrderManagement
/////////////////////////////////////////////////
bool RunNewOrderManagement(string sym, string comm){
if( OpenOrdersBySymbolAndComment(sym,comm) <= 0 ){
double Buy_Tp,Sell_Tp,PriceOpen,NewPrice;
bool ForcePos = iForce(Symbol(),PERIOD_D1,2,MODE_EMA,PRICE_CLOSE,1) > 0;
bool ForceNeg = iForce(Symbol(),PERIOD_D1,2,MODE_EMA,PRICE_CLOSE,1) < 0;
if( WeeklyDirection == 1 && ForceNeg ){
PriceOpen = iHigh(Symbol(),PERIOD_D1,1) + 1 * Point; // Buy 1 point above high of previous candle
if( PriceOpen > (Ask + 16 * Point) ){ // Check If buy price is a least 16 points > Ask
if( TakeProfit >= 5 ) Buy_Tp = PriceOpen + TakeProfit * Point;
if( TakeProfit < 5 ) Buy_Tp = 0;
OrderSend(sym,OP_BUYSTOP,lotMM,PriceOpen,Slippage,iLow(Symbol(),PERIOD_D1,1) - 1*Point,Buy_Tp,"TSD - "+Symbol()+" Long",0,0,Green);
return(true);
}
if( PriceOpen <= (Ask + 16 * Point) ){
NewPrice = Ask + 16 * Point;
if( TakeProfit >= 5 ) Buy_Tp = NewPrice + TakeProfit * Point;
if( TakeProfit < 5 ) Buy_Tp = 0;
OrderSend(sym,OP_BUYSTOP,lotMM,NewPrice,Slippage,iLow(Symbol(),PERIOD_D1,1) - 1*Point,Buy_Tp,"TSD - "+Symbol()+" Long",0,0,Green);
return(true);
}
}
if( WeeklyDirection == -1 && ForcePos ){
PriceOpen = iLow(Symbol(),PERIOD_D1,1) - 1 * Point; // Sell 1 point below low of previous candle
if( PriceOpen < (Bid - 16 * Point) ){ // Check If sell price is a least 16 points < Bid
if( TakeProfit >= 5 ) Sell_Tp = PriceOpen - TakeProfit * Point;
if( TakeProfit < 5 ) Sell_Tp = 0;
OrderSend(sym,OP_SELLSTOP,lotMM,PriceOpen,Slippage,iHigh(Symbol(),PERIOD_D1,1) + 1 * Point,Sell_Tp,"TSD - "+Symbol()+" Short",0,0,Red);
return(true);
}
if( PriceOpen >= (Bid - 16 * Point) ){
NewPrice = Bid - 16 * Point;
if( TakeProfit >= 5 ) Sell_Tp = NewPrice - TakeProfit * Point;
if( TakeProfit < 5 ) Sell_Tp = 0;
OrderSend(sym,OP_SELLSTOP,lotMM,NewPrice,Slippage,iHigh(Symbol(),PERIOD_D1,1) + 1 * Point,Sell_Tp,"TSD - "+Symbol()+" Short",0,0,Red);
return(true);
}
}
}
return(true);
}Profitability Reports
AUD/USD
Jan 2025 - Jul 2025
1.10
Total Trades
74
Won Trades
68
Lost trades
6
Win Rate
91.89 %
Expected payoff
5.08
Gross Profit
4223.00
Gross Loss
-3847.00
Total Net Profit
376.00
-100%
-50%
0%
50%
100%
USD/CAD
Oct 2024 - Jan 2025
2.32
Total Trades
37
Won Trades
35
Lost trades
2
Win Rate
94.59 %
Expected payoff
32.32
Gross Profit
2100.27
Gross Loss
-904.60
Total Net Profit
1195.67
-100%
-50%
0%
50%
100%
NZD/USD
Oct 2024 - Jan 2025
0.59
Total Trades
29
Won Trades
25
Lost trades
4
Win Rate
86.21 %
Expected payoff
-38.97
Gross Profit
1636.00
Gross Loss
-2766.00
Total Net Profit
-1130.00
-100%
-50%
0%
50%
100%
GBP/USD
Oct 2024 - Jan 2025
1.09
Total Trades
44
Won Trades
40
Lost trades
4
Win Rate
90.91 %
Expected payoff
6.20
Gross Profit
3186.00
Gross Loss
-2913.00
Total Net Profit
273.00
-100%
-50%
0%
50%
100%
AUD/USD
Oct 2024 - Jan 2025
0.73
Total Trades
31
Won Trades
0
Lost trades
0
Win Rate
0.00 %
Expected payoff
-30.81
Gross Profit
2634.00
Gross Loss
-3589.00
Total Net Profit
-955.00
-100%
-50%
0%
50%
100%
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