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Custom Logic For Trading

Overview

Custom Logic for Trading is a sophisticated automated trading script designed to execute trades based on custom indicator signals, with robust position management features such as trailing stops, break-even settings, and filters. This script allows traders to implement their strategies with high precision and flexibility, enhancing their trading efficiency and profitability.

Input Parameters

Indicator Settings

  • indicator_name: Name of the custom indicator to be used for generating signals.
  • buy_signal: Signal value indicating a buy condition.
  • sell_signal: Signal value indicating a sell condition.

Filter Settings

  • enable_filter: Boolean flag to enable or disable filtering based on MA or ADX.
  • filter_type: Type of filter to use (0 - MA, 1 - ADX, 2 - Both).
  • ma_period: Period for the Moving Average filter.
  • adx_period: Period for the ADX filter.
  • adx_threshold: Threshold value for ADX to validate trends.

Position Sizing

  • lot_size: Size of the lot for each trade.
  • take_profit: Take profit level in points.
  • stop_loss: Stop loss level in points.
  • slippage: Maximum slippage allowed for order execution.

Trading Parameters

  • close_on_opposite: Boolean flag to close positions on opposite signals.
  • logic_direction: Trading logic direction (0 - Direct, 1 - Reversal).
  • trading_side: Side of trading to take (0 - Long only, 1 - Short only, 2 - Both).

Break-even Settings

  • enable_break_even: Boolean flag to enable or disable break-even functionality.
  • break_even_level: Profit level in points at which to move the stop loss to break-even.

Trailing Stop Settings

  • enable_trailing_stop: Boolean flag to enable or disable trailing stop.
  • trailing_stop_type: Type of trailing stop to use (0 - Points, 1 - High/Low, 2 - ATR, 3 - MA).
  • trailing_stop_value: Value for the trailing stop based on the selected type.

Workflow

  1. Initialization: Configure the input parameters to tailor the bot to your specific trading strategy. Attach the script to the desired chart in MetaTrader 4.

  2. Signal Detection: The bot continuously monitors the custom indicator for buy and sell signals. It retrieves the signal using the iCustom function and evaluates it based on the configured buy_signal and sell_signal values.

  3. Filtering: If filtering is enabled, the bot checks additional conditions based on the selected filter type (MA or ADX). For MA, it compares the current price against the moving average. For ADX, it ensures the ADX value exceeds the specified threshold to confirm trend strength.

  4. Trade Execution:

    • Long Positions: When a valid buy signal is detected, and all conditions are met (including filtering), the bot opens a buy position with the specified lot size, stop loss, and take profit.
    • Short Positions: Similarly, when a valid sell signal is detected, and conditions are satisfied, the bot opens a sell position.
  5. Position Management:

    • Close on Opposite Signal: If the close_on_opposite parameter is enabled, the bot closes positions when an opposite signal is detected.
    • Trailing Stop: If trailing stop is enabled, the bot dynamically adjusts the stop loss based on the selected trailing stop type (e.g., high/low of recent bars, ATR, MA).
    • Break-even: When the price reaches the specified break-even level, the bot adjusts the stop loss to the entry price to secure profits.
  6. Continuous Monitoring: The bot continuously monitors market conditions and updates positions as needed, ensuring that the trading strategy is executed consistently and efficiently.

Benefits

  • Automation: Automates the entire trading process, reducing the need for manual intervention.
  • Customization: Highly customizable input parameters to fit various trading strategies.
  • Robust Management: Advanced position management features to optimize trade outcomes.
  • Efficiency: Executes trades with precision, leveraging custom indicators and technical analysis.

Usage

  1. Setup: Configure the input parameters according to your trading strategy.
  2. Deployment: Attach the script to the desired chart in MetaTrader 4.
  3. Execution: The bot will automatically manage trading activities based on the configured logic and parameters.


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[跟单系统] T he most friendly Copier interactive interface, the most abundant easy-to-use functions, and the best Copy solution.    EASY   : Easy to use, load and select the Master or SLAVE to use easily  FAST:   Quickly copy orders, algorithmic optimal follow-up mechanism, priority calculation of new signals, priority queue processing received special signals Multiple:   1. Support multiple signals to be sent at the same time, multiple accounts can select multiple accounts to copy at the same time
Exp Averager
Vladislav Andruschenko
4.8 (20)
Exp-Averager  is designed to Average your trades that have received a certain drawdown by opening averaging trades. The advisor has the ability to open new positions in on trend or against the current trend.  It also includes a smart trailing stop feature that applies to a series of positions.  The advisor can increase or decrease the lot size of the positions.  This is a widely used strategy for bringing losing positions to the average price.        MT5 version Full Description +DEMO +PDF  
Visit our all-new   Stein Investments Welcome Page   to get the latest information, updates and trading strategies. Do you want to become a constantly profitable 5-star forex trader? Then  get our Stein Investments trading tools  and send us a screenshot to get your personal invitation to our exclusive trading chat with 500+ members. This Trade Manager is the ideal addition for all  FX Trend  users which like to use a fully automated trade management. It detects your manually opened trades im
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Overview Custom Logic for Trading MT5 Mini is the free version that designed to execute trades based on custom indicator signals, with robust position management features with break-even settings. This script allows traders to implement their strategies with high precision and flexibility, enhancing their trading efficiency and profitability. Input Parameters Indicator Settings indicator_name : Name of the custom indicator to be used for generating signals. buy_signal : Signal value indicating a
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Overview Custom Logic for Trading Mini is the free version of  Custom Logic for Trading  that designed to execute trades based on custom indicator signals, with robust position management features with break-even settings. This script allows traders to implement their strategies with high precision and flexibility, enhancing their trading efficiency and profitability. Input Parameters Indicator Settings indicator_name : Name of the custom indicator to be used for generating signals. buy_signal :
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Version 2.0 2024.08.14
Add "Shift" at trading parameter (0 = current bar, 1 = previous 1 bar and so on).