This script is designed to automate trading on the MetaTrader 4 platform, primarily based on technical indicators and time-based strategies. It's intended to be used on a weekly chart but uses daily indicators for trade entry. Here?s a breakdown of how it works:
1. Initial Setup and Configuration:
- External Variables: The script starts by defining several settings that a user can adjust. These include things like the trade size (
Lots), profit targets (TakeProfit), stop-loss levels (Stoploss), and other parameters related to the trading strategy. - Time Filters: The script defines different minute-based time windows depending on the currency pair which serve as trading windows to avoid sending orders simultaneously
2. Core Logic and Trading Decisions:
-
Weekly Trend Analysis: The script analyzes the weekly chart using two key indicators:
- MACD (Moving Average Convergence Divergence): This indicator helps identify the direction and strength of a trend. The script compares the current MACD value to the previous value to determine if the trend is up (positive direction) or down (negative direction).
- OsMA (Oscillator of Moving Average): Similar to MACD, OsMA also gauges trend direction by looking at the difference between a moving average and its smoothed version.
-
Daily Momentum Analysis: The script analyzes the daily chart using the Williams Percent Range
- Williams Percent Range: This indicator indicates overbought or oversold conditions
-
Trade Entry Conditions (Buy):
- The script checks if the weekly trend is up (MACD and OsMA indicate a positive direction) AND the daily momentum is bullish (Williams Percent Range indicates an oversold condition).
- If both conditions are met, the script places a "Buy Stop" order. This means an order to buy the currency pair will be placed at a price above the current market price. The script calculates the buy price based on the previous day's high, ensuring it's a minimum number of points (16) above the current "Ask" price (the price you'd pay to buy). If the price is not a minimum of 16 points above the current "Ask" price, the script will place it exactly 16 points above.
-
Trade Entry Conditions (Sell):
- The script checks if the weekly trend is down (MACD and OsMA indicate a negative direction) AND the daily momentum is bearish (Williams Percent Range indicates an overbought condition).
- If both conditions are met, the script places a "Sell Stop" order. This order is placed at a price below the current market price. The script calculates the sell price based on the previous day's low, ensuring it's a minimum number of points (16) below the current "Bid" price (the price you'd receive to sell). If the price is not a minimum of 16 points below the current "Bid" price, the script will place it exactly 16 points below.
-
Order Management:
- Cancellation of Opposing Orders: If the weekly trend changes (e.g., from up to down), the script will cancel any existing "Buy Stop" or "Sell Stop" orders. It will cancel the "Buy Stop" if the trend changes from positive to negative, and cancel the "Sell Stop" if the trend changes from negative to positive.
- Order Modification: The script checks if the previous day's high or low is higher than the day before and adjusts the entry price accordingly in the script.
-
Stop Loss Management (Trailing Stop):
- For active trades, the script implements a trailing stop loss. This means the stop-loss price (the price at which the trade will automatically close to limit losses) is adjusted as the price moves in a favorable direction.
- If the price moves a certain number of points (
TrailingStop) in your favor, the stop-loss order is moved to lock in some profit. The stop loss is only adjusted if it is less than the current trailing stop distance from the "Ask" price in a "Buy" order, or more than the current trailing stop distance from the "Bid" price in a "Sell" order.
In summary, this script attempts to capitalize on weekly trends, using daily momentum as a trigger, while managing risk through stop-loss orders and attempting to place trades within specific time windows. It continuously monitors market conditions and adjusts orders based on the latest data.
Orders Execution
Indicators Used
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TSD-v12-MT4-EF-MACD
/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
/*[[
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 := 999
Trailing Stop := 10
]]*/
//+------------------------------------------------------------------+
//| External Variables |
//+------------------------------------------------------------------+
extern int Lots = 1;
extern int TakeProfit = 999;
extern int Stoploss = 0;
extern int TrailingStop = 10;
extern int Slippage=5; // Slippage
extern int StopYear=2005;
extern int MM=0,Leverage=1,AcctSize=10000;
extern int WilliamsP=24,WilliamsL=-75,WilliamsH=-25;
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 WilliamsSell=0, WilliamsBuy=0, Williams=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;
double Lotsf=0;
int start()
{
Lotsf = MathRound(AccountBalance()/10000);
Comment("TSD for MT4 ver beta 0.2 - 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","Lotsf = ",Lotsf,
"\n",
"\n","Daily Williams = ",Williams,
"\n","Is Daily Williams Bullish = ",WilliamsSell,
"\n","Is Daily Williams Bearish = ",WilliamsBuy,
"\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);
Williams = iWPR(NULL,1440,WilliamsP,1);
WilliamsSell = iWPR(NULL,1440,24,1) > WilliamsL;
WilliamsBuy = iWPR(NULL,1440,24,1) < WilliamsH;
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(Direction == 1 && WilliamsBuy)
{
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,Lotsf,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,Lotsf,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 && WilliamsBuy)
if(Direction == -1 && WilliamsSell)
{
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,Lotsf,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,Lotsf,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 && WilliamsSell)
} //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(Direction == -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(Direction == 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
Profitability Reports
EUR/USD
Jan 2025 - Jul 2025
1.11
Total Trades
109
Won Trades
17
Lost trades
92
Win Rate
15.60 %
Expected payoff
16.64
Gross Profit
18757.00
Gross Loss
-16943.00
Total Net Profit
1814.00
-100%
-50%
0%
50%
100%
USD/CAD
Oct 2024 - Jan 2025
0.91
Total Trades
45
Won Trades
6
Lost trades
39
Win Rate
13.33 %
Expected payoff
-8.38
Gross Profit
4019.83
Gross Loss
-4396.73
Total Net Profit
-376.90
-100%
-50%
0%
50%
100%
NZD/USD
Oct 2024 - Jan 2025
2.02
Total Trades
26
Won Trades
4
Lost trades
22
Win Rate
15.38 %
Expected payoff
79.96
Gross Profit
4119.00
Gross Loss
-2040.00
Total Net Profit
2079.00
-100%
-50%
0%
50%
100%
GBP/USD
Oct 2024 - Jan 2025
1.51
Total Trades
42
Won Trades
8
Lost trades
34
Win Rate
19.05 %
Expected payoff
71.29
Gross Profit
8915.00
Gross Loss
-5921.00
Total Net Profit
2994.00
-100%
-50%
0%
50%
100%
AUD/USD
Oct 2024 - Jan 2025
1.05
Total Trades
31
Won Trades
0
Lost trades
0
Win Rate
0.00 %
Expected payoff
6.35
Gross Profit
4004.00
Gross Loss
-3807.00
Total Net Profit
197.00
-100%
-50%
0%
50%
100%
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