Copy trading tool

·         Trader insert operation into Metatrader 4 MT4-masteraccount

·         MT4-masteraccount run a script that call a webpage and insert the operation parameters into a Database

·         MT4-slaveaccount replicate each operation inserted by the MT4-masteraccount

·         Trader insert operation into a Metatrader4 instance, called MT4-masteraccount

·         On MT4-masteraccount is running a script (MT4-master.ex4) that on every new operation inserted do:

o   send operation’s parameters to a Webpage through a WebRequest

https://docs.mql4.com/common/webrequest

o   Webpage record into the Database

§  Parameters of the operation in order to replicate them through OrderSend function later into MT4-slaveaccount

§  Account number from which the operation is coming

§  Flag operations as recorded

·         For each MT4-slaveaccount is running a script (MT4-slave.ex4) that do:

o   through a WebRequest pick up from the Database if there is a new operation for MT4-slaveaccount (recorded but not executed)

o   extract operation’s parameters from the Database

o   send the order into MT4-slaveaccount composing the order though OrderSend function

https://docs.mql4.com/trading/ordersend

o   flag operation as done into the Database in order to replicate it only once

·         Allow multiple MT4-slaveaccount in the Database so that the operation executed by only one MT4-masteraccount is replicated to multiple MT4-slaveaccount

5 files to implement:

·         MT4-master.mq4 (commented and editable)

·         Webscript master (commented and editable)

·         Webscript slave (commented and editable)

·         MT4-slave.mq4 (commented and editable)

·         Database

MT4-master.mq4

At every tick:

·         Check in the Order History if there is an open order or a new operation inserted

·         If there is a new operation, for each one send it to the Webpage through a WebRequest

Webscript master

·         Check on the Database if the order received from MT4-master has already been recorded (check account number and flag recorded) - maybe

·         If the order has been recorded, ignore it

·         If the order has not been recorded

o   Send a webrequest to Webpage so that Webpage record into the Database

§  Parameters of the operation

§  Account number from which the operation is coming

§  Flag operations as recorded 

Webscript slave

·         Check on the Database if there is an operation with the slave account number flagged as recorded but not executed

·         Extract operation’s parameters from the Database

·         Flag operation as executed into the Database in order to replicate it only once

·         Send back operation parameters to MT4-slaveaccount through a WebRequest

MT4-slave.mq4

·         Send a WebRequest to the Webpage to check if there is an operation with the slave account number flagged as recorded but not executed

·         Send the order into MT4-slaveaccount composing the order though OrderSend function

https://docs.mql4.com/trading/ordersend

Database

What is necessary to fulfill the target of the programs descripted above.

Future implementation: multiple MT4-masteraccount, matrix Masters and Slaves in order to enable/disable copy (through web dashboard), risk settings in order to use risk multipliers/lot multiplier/fixed lots.