Auto SL Simples
- Utilities
- Tiago De Souza
- Version: 1.2
- Updated: 2 June 2023
- Activations: 20
It is designed to automatically set a stop loss for open trades in the MetaTrader 4 platform. Here is a breakdown of the important parts of the script:
-
The script uses input parameters to control its behavior. The AutoSLTP_AllSymbols parameter determines whether to track trades on all symbols or only the current symbol. The AutoSLTP_Type parameter specifies the type of orders to track: 1 for market orders, 2 for pending orders, or 3 for both. The AutoSLTP_StopLoss parameter sets the stop loss value in points.
-
The global variable g_LastCheckedBar keeps track of the last bar that was checked for trade modifications.
-
The SetStopLoss() function is used to set the stop loss for a trade. It checks if the trade already has a stop loss defined and if the trade is still open. It calculates the new stop loss value based on the open price and the AutoSLTP_StopLoss parameter. It then calls the OrderModify() function to modify the trade's stop loss level.
-
The OnInit() function is the initialization function for the script. In this case, it simply returns INIT_SUCCEEDED .
-
The OnTick() function is called on every tick of the price feed. It checks if it needs to track trades on all bars or only the current bar. It then loops through all open orders using the OrdersTotal() and OrderSelect() functions. For each order, it checks if it should be tracked based on the symbol and order type criteria specified in the input parameters. If the order meets the criteria, it calls the SetStopLoss() function to set the stop loss.
Overall, this script allows for automatic management of stop losses for trades based on predefined parameters.
