Something is not good in this code

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This code has not compilation errors but I have a vogue idea that it's not correct. It's a simple EA based on Momentum crossing zero level.

The problem is how to define this zero level in trading logic?

Thanks


  //*---------------------------------------------------------------------------------------------------------*\
  // This MQL is automatically generated by FXFisherman ZeroCode v1.0.1982.33196 (www.fxfisherman.com)
  // 
  // DISCLAIMER:
  //
  // FXFisherman ZeroCode is provided free of charge, and, therefore, on an "as is" basis, without warranty 
  // of any kind, express or implied, including without limitation the warranties that it is free of defects,
  // virus free, able to operate on an uninterrupted basis, merchantable, fit for a particular purpose or 
  // non-infringing. In any case, the author(s) will not be responsible or liable for ANY SPECIAL, INCIDENTAL, 
  // CONSEQUENTIAL, INDIRECT OR ANY OTHER LOSSES caused by using of this software. USE IT AT YOUR OWN RISK.
  //
  //*-----------------------------------PLEASE DO NOT REMOVE THIS HEADER--------------------------------------*/
  
  /*[[
  	Name := MomCross
  	Author := Alex
  	Link := Coded_by_FXFisherman_ZeroCode_@www.fxfisherman.com
  	Lots := 1
  	Stop Loss := 30
  	Take Profit := 0
  	Trailing Stop := 30
  ]]*/
  defines: Slippage(3);
  defines: ;
  var: cnt(0),IsBuying(False),IsSelling(False),IsClosing(False),RealTP(0),RealSL(0);
  var: mom1_1(0),mom1_0(0);
  
  // Check for invalid bars and takeprofit
  If Bars<200 then Exit;
  
  // Calculate indicators' value
  mom1_1 = iMomEx(14,PRICE_CLOSE,1);
  mom1_0 = iMomEx(14,PRICE_CLOSE,0);
  
  
  // Check for BUY, SELL, and CLOSE signal
  IsBuying = (mom1_0 > mom1_1)
   and (mom1_1 < mom1_0);
  IsSelling = (mom1_0 < mom1_1)
   and (mom1_1 > mom1_0);
  IsClosing = False;
  
  // Control open trades
  for cnt=1 to TotalTrades
    {
     // Control only market trades not entry order
     if OrderValue(cnt,VAL_TYPE)<=OP_SELL and
        OrderValue(cnt,VAL_SYMBOL)=Symbol then
       {
       
        // Check for close signal for bought trade
        If OrderValue(cnt,VAL_TYPE)=OP_BUY then
    		{
                    
           If IsSelling or IsClosing then
       	   {
       	    // Close bought trade
              CloseOrder(OrderValue(cnt,VAL_TICKET),OrderValue(cnt,VAL_LOTS),Bid,3,Violet);
              Alert("MomCross: Closing BUY order.");
       	   };
           
           // Check trailing stop
           If TrailingStop>0 then
  		   {                   
              If (Bid-OrderValue(cnt,VAL_OPENPRICE))>(Point*TrailingStop) then
          	  {
                 If OrderValue(cnt,VAL_STOPLOSS)<(Bid-Point*TrailingStop) then
             	     {
             	      // Modify trailing stop
                    ModifyOrder(OrderValue(cnt,VAL_TICKET),OrderValue(cnt,VAL_OPENPRICE),
                                Bid-Point*TrailingStop,OrderValue(cnt,VAL_TAKEPROFIT),Red);        
             		 };
             	  };
             };
    		}
    	  else
    	  	{
           
           // Check sold trade for close signal
           If IsBuying or IsClosing then
       	   {
              CloseOrder(OrderValue(cnt,VAL_TICKET),OrderValue(cnt,VAL_LOTS),Ask,3,Violet); 
              Alert("MomCross: Closing SELL order.");
       	   };
           
           // Control trailing stop
           If TrailingStop>0 then
       	   {
              If (OrderValue(cnt,VAL_OPENPRICE)-Ask)>(Point*TrailingStop) then
          	  {
                 If OrderValue(cnt,VAL_STOPLOSS)=0 or 
                    OrderValue(cnt,VAL_STOPLOSS)>(Ask+Point*TrailingStop) then
             	     {
                    ModifyOrder(OrderValue(cnt,VAL_TICKET),OrderValue(cnt,VAL_OPENPRICE),
                                Ask+Point*TrailingStop,OrderValue(cnt,VAL_TAKEPROFIT),Red);
             		 };
          	  };
       	   };
       	};
    	 };
    };
    
    
  // If there is no open trade
  If TotalTrades<1 then
    {
     // If we have enough money for 1 lot
     If FreeMargin<1000 then Exit;  
  
     // Check for BUY entry signal
     If IsBuying and IsSelling=False and IsClosing=False then
       {
        // Buy
        If StopLoss>0 then
        {
        	RealSL=Ask-StopLoss*Point;
        }   
        If TakeProfit>0 then
        {
        	RealTP=Ask+TakeProfit*Point;
        }        
        SetOrder(OP_BUY,Lots,Ask, Slippage,RealSL,RealTP,RED);
        Alert("MomCross: Buying"); 
       };
     
     // Check for SELL entry signal
     If IsSelling and IsBuying=False and IsClosing=False then
       {
        // Sell
  	  If StopLoss>0 then
        {
        	RealSL=Bid+StopLoss*Point;
        }   
        If TakeProfit>0 then
        {
        	RealTP=Bid-TakeProfit*Point;
        }    
        SetOrder(OP_SELL,Lots,Bid,Slippage,RealSL,RealTP,RED);
        Alert("MomCross: Selling");
       };
    };
    
    
  //-------------- Coded by FXFisherman ZeroCode v1.0.1982.33196

 

alp,

Suppose you want to buy when Mom crosses up 0 and sell when crosses down 0 then:

Buy Logics:

AND Mom (x) Previous < 0

AND Mom (x) Current > 0

Sell Logics:

AND Mom (x) Previous > 0

AND Mom (x) Current < 0

 

Hello,

Thank you very much Scorpion.

Would it be the same logic with, say, RSI crossing 25 and 75 levels?

It's relatively simple to create EAs using a crossover principle, however if the task is more complex some part of mql code is needed which requires some skill.

Example: ADX crossing on 1D chart. The position is to be opened the next 1 or more days after the +DI/-DI crossing each other on condition that the price breaks out the highest high or the lowest low of the day the crossing has occured (Wilder's rule).

Is it possible for a newbie to make it by means of Zero Code?

Regards,

alp

 
alp:
Would it be the same logic with, say, RSI crossing 25 and 75 levels?

Yes, the same with RSI and others.

It's relatively simple to create EAs using a crossover principle, however if the task is more complex some part of mql code is needed which requires some skill. Example: ADX crossing on 1D chart. The position is to be opened the next 1 or more days after the +DI/-DI crossing each other on condition that the price breaks out the highest high or the lowest low of the day the crossing has occured (Wilder's rule). Is it possible for a newbie to make it by means of Zero Code?

In this case, ZeroCode is not capable of doing so yet. However, ZeroCode helps you not to start coding from scratch, so you might just need to code only the Highest high/Lowest low breakout checking only.

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