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Momentum wave Breakout

Here's a short note explaining some of its key aspects:

The code starts with defining various input parameters such as entry amount, stop loss, take profit, and indicator parameters.
The code includes functions and variables to manage trading positions, handle position updates, and check entry signals.
The OnInit() function is called when the EA is initialized and performs necessary initialization tasks.
The OnTick() function is called on each tick and checks if a new bar has formed, then calls the OnBar() function accordingly.
The OnDeinit() function is called when the EA is removed from the chart and performs cleanup tasks such as removing indicators.
The OnBar() function is the main trading logic that updates positions, checks for session close conditions, manages position closure and trailing stops, and opens new positions based on entry signals.
The GetEntrySignal() function determines the entry signal based on indicator values.
The ManageClose() function checks if the position should be closed based on indicator values.
The OpenPosition() function opens a new position with the specified lot size, stop loss, and take profit.
The ClosePosition() function closes the current position.
The ManageOrderSend() function sends an order request and handles retries in case of failures.
The CheckOrder() function checks if an order request is valid and handles errors.
The GetStopLossPrice() and GetTakeProfitPrice() functions calculate the stop loss and take profit levels based on specified parameters.

The GetTrailingStopPrice() function calculates the trailing stop price for a position.

Preferred instrument: EURUSD M30

Preferred brokers: Octafx incorporated.

Overall, this code represents a trading strategy using three indicators: Accelerator Oscillator, Williams' Percent Range, and Envelopes. The EA opens and closes positions based on the values of these indicators.





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Dipak Dilip Reddy
5 (1)
The given MQL5 code is for an Expert Advisor (EA) that implements a trading strategy using the Alligator indicator and the Standard Deviation indicator. Here's a breakdown of the code: The code defines various input parameters for the EA, including entry lots, stop loss, take profit, indicator parameters, and expert settings. The OnInit() function initializes the EA by setting some variables and validating the initialization. The OnTick() function is called on each tick of the price data and
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This strategy uses two indicators: Commodity Channel Index (CCI) and Envelopes. It opens a buy position when the CCI crosses above the lower level and closes it when the price crosses above the upper band of the Envelopes. It opens a sell position when the CCI crosses below the upper level and closes it when the price crosses below the lower band of the Envelopes. It also uses a fixed stop loss and take profit, and a trailing stop based on the previous bar’s high or low. It has some parameters t
The code is a trading robot that uses two indicators moving averages crossover and envelopes. It opens a buy or sell trade when the fast moving average crosses the slow moving average and the price is above or below the envelopes. It closes the trade when the opposite signal occurs or when the stop loss or take profit is reached. It also has some session settings to limit the trading hours and days. The code has some input parameters to adjust the trade size, stop loss, take profit, magic number
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