Technical Logic Overview: TDSGlobal Trading Script
This document provides a non-technical explanation of the logic used by the TDSGlobal trading script. The script is designed to automate trade entries and management based on Alexander Elder's "Triple Screen" system, specifically intended for use on weekly charts.
1. Core Market Analysis
The script evaluates three different types of market indicators to determine if a trade is appropriate:
- Weekly Trend (MACD & OsMA): It looks at two specific indicators (MACD and OsMA) on the weekly timeframe to identify the general direction of the market. It compares the current value against previous values to see if the trend is moving upward or downward.
- Daily Momentum (Force Indicator): It utilizes a "Force" indicator on a daily basis. This acts as a momentum filter, checking whether the immediate strength of the market is bullish (positive) or bearish (negative).
- Trend Confirmation: A trade is generally only considered when there is a specific alignment between the long-term weekly trend and the short-term daily momentum.
2. Execution Strategy
The script uses "Pending Orders" (Buy Stop and Sell Stop). This means it doesn't always enter the market instantly; instead, it places an order to be triggered only if the price hits a specific level.
- Buy Logic: If the weekly trend is favorable but the daily momentum shows a temporary dip (negative), the script places a "Buy Stop" order slightly above the previous candle's high.
- Sell Logic: If the weekly trend is favorable but the daily momentum shows a temporary peak (positive), the script places a "Sell Stop" order slightly below the previous candle's low.
3. Time-Based Restrictions
To prevent multiple currencies from executing trades at the exact same millisecond—which can cause system congestion or conflicting signals—the script includes a "Time Window" logic. It only allows trades to be placed during specific minutes of the hour for major pairs like:
- USDCHF, GBPUSD, USDJPY, and EURUSD.
4. Order Management & Maintenance
Once a trade is active or a pending order is placed, the script continuously manages it:
Order Deletion (Cancellation)
- If a Buy Stop is waiting but the weekly trend flips to bearish, the script automatically deletes the order.
- If a Sell Stop is waiting but the weekly trend flips to bullish, it deletes that order as well.
Dynamic Price Adjustment
The script constantly monitors the high and low prices of previous candles. If the market moves significantly, it modifies the entry price of the pending orders to ensure they remain at a relevant level relative to current price action.
Trailing Stop Loss
For active trades (already in profit), the script employs a Trailing Stop. As the price moves in favor of the trade:
- It calculates if the profit exceeds a certain threshold.
- If it does, it "drags" the Stop Loss forward to lock in profits.
- This ensures that if the market suddenly reverses, the trade closes with a portion of its gains rather than turning into a loss.
5. Summary of Operation Flow
- Scan: Check Weekly trends and Daily momentum.
- Filter: Check if the current time is allowed for the specific currency pair.
- Place: Set a "Pending" order at a specific price level based on recent highs/lows.
- Monitor: Delete orders if the trend changes or move the Stop Loss forward as profit increases.
/*[[
Name := TDSGlobal
Author := Copyright © 2005 Bob O'Brien / Barcode
Link :=
Notes := Based on Alexander Elder's Triple Screen system. To be run only on a Weekly chart.
Lots := 1
Stop Loss := 0
Take Profit := 100
Trailing Stop := 60
]]*/
//+------------------------------------------------------------------+
//| External Variables |
//+------------------------------------------------------------------+
extern double Lots = 1.0;
extern int TakeProfit = 100;
extern int Stoploss = 0;
extern int TrailingStop = 60;
extern int Slippage=5; // Slippage
extern int StopYear=2005;
extern int MM=0,Leverage=1,AcctSize=10000;
int BuyEntryOrderTicket=0,SellEntryOrderTicket=0,cnt=0,total=0;
double MacdCurrent=0, MacdPrevious=0, MacdPrevious2=0, Direction=0, OsMAPrevious=0, OsMAPrevious2=0, OsMADirection=0;
double newbar=0,PrevDay=0,PrevMonth=0,PrevYear=0,PrevCurtime=0;
double PriceOpen=0; // Price Open
bool First=True;
double TradesThisSymbol=0;
double ForcePos=0, ForceNeg=0, Force=0,NewPrice=0;
double StartMinute1=0,EndMinute1=0,StartMinute2=0,EndMinute2=0,StartMinute3=0,EndMinute3=0;
double StartMinute4=0,EndMinute4=0,StartMinute5=0,EndMinute5=0,StartMinute6=0,EndMinute6=0;
double StartMinute7=0,EndMinute7=0,DummyField=0;
int start()
{
Comment("TSD for MT4 ver beta 0.3 - DO NOT USE WITH REAL MONEY YET",
"\n",
"\n","Weekly MacdPrevious = ",MacdPrevious," Weekly OsMAPrevious = ",OsMAPrevious,
"\n","Weekly MacdPrevious2 = ",MacdPrevious2," Weekly OsMAPrevious2 = ",OsMAPrevious2,
"\n","Weekly Direction = ",Direction," Weekly OsMADirection = ",OsMADirection,
"\n",
"\n","Daily Force = ",Force,
"\n","Is Daily Force Bullish = ",ForcePos,
"\n","Is Daily Force Bearish = ",ForceNeg,
"\n",
"\n","Total Orders = ",total,
"\n","Trades this Symbol(",Symbol(),") = ",TradesThisSymbol,
"\n",
"\n","New Bar Time is ",TimeToStr(newbar),
"\n",
"\n","Daily High[1] = ",High[1],
"\n","Daily High[2] = ",High[2],
"\n","Daily Low[1] = ",Low[1],
"\n","Daily Low[2] = ",Low[2],
"\n",
"\n","Current Ask Price + 16 pips = ",Ask+(16*Point),
"\n","Current Bid Price - 16 pips = ",Bid-(16*Point));
total=OrdersTotal();
TradesThisSymbol=0;
for(cnt=0;cnt<total;cnt++)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if(OrderSymbol()==Symbol())
{
TradesThisSymbol ++;
} // close for if(OrderSymbol()==Symbol())
} // close for for(cnt=0;cnt<total;cnt++)
MacdPrevious = iMACD(NULL,10080,12,26,9,PRICE_CLOSE,MODE_MAIN,1);
MacdPrevious2 = iMACD(NULL,10080,12,26,9,PRICE_CLOSE,MODE_MAIN,2);
OsMAPrevious = iOsMA(NULL,10080,12,26,9,PRICE_CLOSE,1);
OsMAPrevious2 = iOsMA(NULL,10080,12,26,9,PRICE_CLOSE,2);
Force = iForce(NULL,1440,2,MODE_EMA,PRICE_CLOSE,1);
ForcePos = iForce(NULL,1440,2,MODE_EMA,PRICE_CLOSE,1) > 0;
ForceNeg = iForce(NULL,1440,2,MODE_EMA,PRICE_CLOSE,1) < 0;
if (MacdPrevious > MacdPrevious2) Direction = 1;
if (MacdPrevious < MacdPrevious2) Direction = -1;
if (MacdPrevious == MacdPrevious2) Direction = 0;
if (OsMAPrevious > OsMAPrevious2) OsMADirection = 1;
if (OsMAPrevious < OsMAPrevious2) OsMADirection = -1;
if (OsMAPrevious == OsMAPrevious2) OsMADirection = 0;
// Select a range of minutes in the day to start trading based on the currency pair.
// This is to stop collisions occurring when 2 or more currencies set orders at the same time.
if(Symbol() == "USDCHF")
{
StartMinute1 = 0;
EndMinute1 = 1;
StartMinute2 = 8;
EndMinute2 = 9;
StartMinute3 = 16;
EndMinute3 = 17;
StartMinute4 = 24;
EndMinute4 = 25;
StartMinute5 = 32;
EndMinute5 = 33;
StartMinute6 = 40;
EndMinute6 = 41;
StartMinute7 = 48;
EndMinute7 = 49;
} // close for if(Symbol() == "USDCHF")
if(Symbol() == "GBPUSD")
{
StartMinute1 = 2;
EndMinute1 = 3;
StartMinute2 = 10;
EndMinute2 = 11;
StartMinute3 = 18;
EndMinute3 = 19;
StartMinute4 = 26;
EndMinute4 = 27;
StartMinute5 = 34;
EndMinute5 = 35;
StartMinute6 = 42;
EndMinute6 = 43;
StartMinute7 = 50;
EndMinute7 = 51;
} // close for if(Symbol() == "GBPUSD")
if(Symbol() == "USDJPY")
{
StartMinute1 = 4;
EndMinute1 = 5;
StartMinute2 = 12;
EndMinute2 = 13;
StartMinute3 = 20;
EndMinute3 = 21;
StartMinute4 = 28;
EndMinute4 = 29;
StartMinute5 = 36;
EndMinute5 = 37;
StartMinute6 = 44;
EndMinute6 = 45;
StartMinute7 = 52;
EndMinute7 = 53;
} //close for if(Symbol() == "USDJPY")
if(Symbol() == "EURUSD")
{
StartMinute1 = 6;
EndMinute1 = 7;
StartMinute2 = 14;
EndMinute2 = 15;
StartMinute3 = 22;
EndMinute3 = 23;
StartMinute4 = 30;
EndMinute4 = 31;
StartMinute5 = 38;
EndMinute5 = 39;
StartMinute6 = 46;
EndMinute6 = 47;
StartMinute7 = 54;
EndMinute7 = 59;
} // close for if(Symbol() == "EURUSD")
if( (Minute() >= StartMinute1 && Minute() <= EndMinute1) ||
(Minute() >= StartMinute2 && Minute() <= EndMinute2) ||
(Minute() >= StartMinute3 && Minute() <= EndMinute3) ||
(Minute() >= StartMinute4 && Minute() <= EndMinute4) ||
(Minute() >= StartMinute5 && Minute() <= EndMinute5) ||
(Minute() >= StartMinute6 && Minute() <= EndMinute6) ||
(Minute() >= StartMinute7 && Minute() <= EndMinute7) )
{
DummyField = 0; // dummy statement because MT will not allow me to use a continue statement
} // close for LARGE if statement
else return(0);
/////////////////////////////////////////////////
// Process the next bar details
/////////////////////////////////////////////////
if (newbar != Time[0])
{
newbar = Time[0];
if(TradesThisSymbol < 1)
{
if(OsMADirection == 1 && ForceNeg)
{
PriceOpen = High[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
{
BuyEntryOrderTicket=OrderSend(Symbol(),OP_BUYSTOP,Lots,PriceOpen,Slippage,Low[1] - 1 * Point,PriceOpen + TakeProfit * Point,"Buy Entry Order placed at "+CurTime(),0,0,Green);
return(0);
} // close for if(PriceOpen > (Ask + 16 * Point))
else
{
NewPrice = Ask + 16 * Point;
BuyEntryOrderTicket=OrderSend(Symbol(),OP_BUYSTOP,Lots,NewPrice,Slippage,Low[1] - 1 * Point,NewPrice + TakeProfit * Point,"Buy Entry Order placed at "+CurTime(),0,0,Green);
return(0);
} // close for else statement
} // close for if(Direction == 1 && ForceNeg)
if(OsMADirection == -1 && ForcePos)
{
PriceOpen = Low[1] - 1 * Point;
if(PriceOpen < (Bid - 16 * Point)) // Check if buy price is a least 16 points < Bid
{
SellEntryOrderTicket=OrderSend(Symbol(),OP_SELLSTOP,Lots,PriceOpen,Slippage,High[1] + 1 * Point,PriceOpen - TakeProfit * Point,"Sell Entry Order placed at "+CurTime(),0,0,Green);
return(0);
} // close for if(PriceOpen < (Bid - 16 * Point))
else
{
NewPrice = Bid - 16 * Point;
SellEntryOrderTicket=OrderSend(Symbol(),OP_SELLSTOP,Lots,NewPrice,Slippage,High[1] + 1 * Point,NewPrice - TakeProfit * Point,"Sell Entry Order placed at "+CurTime(),0,0,Green);
return(0);
} // close for else statement
} // close for if(Direction == -1 && ForcePos)
} //Close of if(TradesThisSymbol < 1)
/////////////////////////////////////////////////
// Pending Order Management
/////////////////////////////////////////////////
if(TradesThisSymbol > 0)
{
total=OrdersTotal();
for(cnt=0;cnt<total;cnt++)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if(OrderSymbol()==Symbol() && OrderType()==OP_BUYSTOP)
{
if(OsMADirection == -1)
{
OrderDelete(OrderTicket());
return(0);
} // close for if(Direction == -1)
} // close for if(OrderSymbol()==Symbol() && OrderType()==OP_BUYSTOP)
if(OrderSymbol()==Symbol() && OrderType()==OP_SELLSTOP)
{
if(OsMADirection == 1)
{
OrderDelete(OrderTicket());
return(0);
} //close for if(Direction == 1)
} //close for if(OrderSymbol()==Symbol() && OrderType()==OP_SELLSTOP)
if(OrderSymbol()==Symbol() && OrderType()==OP_BUYSTOP)
{
if(High[1] < High[2])
{
if(High[1] > (Ask + 16 * Point))
{
OrderModify(OrderTicket(),High[1] + 1 * Point,Low[1] - 1 * Point,OrderTakeProfit(),0,Cyan);
return(0);
} //close for if(High[1] > (Ask + 16 * Point))
else
{
OrderModify(OrderTicket(),Ask + 16 * Point,Low[1] - 1 * Point,OrderTakeProfit(),0,Cyan);
return(0);
} //close for else statement
} //close for if(High[1] < High[2])
} //close for if(OrderSymbol()==Symbol() && OrderType()==OP_BUYSTOP)
if(OrderSymbol()==Symbol() && OrderType()==OP_SELLSTOP)
{
if(Low[1] > Low[2])
{
if(Low[1] < (Bid - 16 * Point))
{
OrderModify(OrderTicket(),Low[1] - 1 * Point,High[1] + 1 * Point,OrderTakeProfit(),0,Cyan);
return(0);
} // close for if(Low[1] < (Bid - 16 * Point))
else
{
OrderModify(OrderTicket(),Bid - 16 * Point,High[1] + 1 * Point,OrderTakeProfit(),0,Cyan);
return(0);
} //close for else statement
} //close for if(Low[1] > Low[2])
} //close for if(OrderSymbol()==Symbol() && OrderType()==OP_SELLSTOP)
} // close for for(cnt=0;cnt<total;cnt++)
} // close for if(TradesThisSymbol > 0)
} // close for if (newbar != Time[0])
/////////////////////////////////////////////////
// Stop Loss Management
/////////////////////////////////////////////////
if(TradesThisSymbol > 0)
{
total=OrdersTotal();
for(cnt=0;cnt<total;cnt++)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if(OrderSymbol()==Symbol() && OrderType()==OP_BUY)
{
if(Ask-OrderOpenPrice() > (TrailingStop * Point))
{
if(OrderStopLoss() < (Ask - TrailingStop * Point))
{
OrderModify(OrderTicket(),OrderOpenPrice(),Ask - TrailingStop * Point,Ask + TakeProfit * Point,0,Cyan);
return(0);
} // close for if(OrderStopLoss() < (Ask - TrailingStop * Point))
} // close for if(Ask-OrderOpenPrice() > (TrailingStop * Point))
} // close for if(OrderSymbol()==Symbol() && OrderType()==OP_BUY)
if(OrderSymbol()==Symbol() && OrderType()==OP_SELL)
{
if(OrderOpenPrice() - Bid > (TrailingStop * Point))
{
if(OrderStopLoss() > (Bid + TrailingStop * Point))
{
OrderModify(OrderTicket(),OrderOpenPrice(),Bid + TrailingStop * Point,Bid - TakeProfit * Point,0,Cyan);
return(0);
} // close for if(OrderStopLoss() > (Bid + TrailingStop * Point))
} // close for if(OrderOpenPrice() - Bid > (TrailingStop * Point))
} // close for if(OrderSymbol()==Symbol() && OrderType()==OP_SELL)
} // close for for(cnt=0;cnt<total;cnt++)
} // close for if(TradesThisSymbol > 0)
//return(0);
} // close for start
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