MQL5 EA Programming Request

EA Programming Request

This EA aims to manage user-opened trades by adding a pending order based on specific conditions. This pending order has a configurable size and Take Profit (TP) level, depending on the original trade opened by the user.

EA Components

1. Original Position

   • This is the trade manually opened by the user.

   • The trade has a user-defined Stop Loss (SL) and Take Profit (TP).

2. Stop Loss Percentage - Entry

   • Defines the distance from the Stop Loss to the pending order, expressed as a percentage.

   Example:

   • Long entry at price 100.

   • Stop Loss at 90 (10 points distance).

   • Stop Loss Percentage - Entry of 30%.

   • Pending order placed at price 93. (30% of 10 points = 3 points, so it will be placed 3 points above the SL for a long entry).

3. Position Multiplier

   • A multiplier for the size of the pending order compared to the original position.

   Example:

   • Initial entry with 1 lot.

   • Multiplier of 3.

   • The pending order will have a size of 3 lots.

4. Modes of TP Placement for the Pending Order

   • Mode 1: Set the TP at the entry price of the original position.

   • Mode 2: Set the TP at the TP price of the original position.

   • Mode 3: Set 50% of the TP at the entry price of the original position and the other 50% at the TP of the original position.

5. System Scope Modes

   • Mode 1: Only valid for the current symbol (applies only to the asset with the open position).

   • Mode 2: Valid for all trades in the account (applies to all open positions in the account).

EA Operation

1. The user manually opens an original position, with a defined Stop Loss and Take Profit.

2. The EA automatically places a pending order based on the Stop Loss Percentage - Entry defined by the user.

   • Stop Loss Percentage - Entry determines the distance from the Stop Loss where the pending order is placed.

3. The pending order will have:

   • Size defined by the Position Multiplier (i.e., a larger or smaller size compared to the original position).

   • Take Profit based on the selected mode (Mode 1, Mode 2, or Mode 3).

   • Stop Loss will always be the same as the Stop Loss of the original position.

Examples of TP Placement Modes

Mode 1: Set the TP at the entry price of the original position

Example:

• User opens a long position at price 100.

  • Stop Loss at 90 (10 points distance).

  • Take Profit at 110.

• Stop Loss Percentage - Entry: 30%.

  • Pending order placed at 93 (30% of 10 points = 3 points, so the pending order price will be 90 + 3).

• Position Multiplier: 2.

  • The pending order will be 2 lots.

• TP Placement Mode: Mode 1.

  • The TP of the pending order is set at the entry price of the original position, i.e., 100.

Mode 2: Set the TP at the TP price of the original position

Example:

• User opens a long position at price 100.

  • Stop Loss at 90 (10 points distance).

  • Take Profit at 110.

• Stop Loss Percentage - Entry: 30%.

  • Pending order placed at 93.

• Position Multiplier: 2.

  • The pending order will be 2 lots.

• TP Placement Mode: Mode 2.

  • The TP of the pending order is set at the Take Profit price of the original position, i.e., 110.

Mode 3: Set 50% of the TP at the entry price of the original position and the other 50% at the TP of the original position

Example:

• User opens a long position at price 100.

  • Stop Loss at 90 (10 points distance).

  • Take Profit at 110.

• Stop Loss Percentage - Entry: 30%.

  • Pending order placed at 93.

• Position Multiplier: 2.

  • The pending order will be 2 lots.

• TP Placement Mode: Mode 3.

  • The TP of the pending order is divided into two parts:

    • 50% of the position size has TP at the entry price of the original position, i.e., 100.

    • The remaining 50% has TP at the Take Profit price of the original position, i.e., 110.

Complete Example

Example:

• User opens a long position at price 100.

  • Stop Loss at 90 (10 points distance).

  • Take Profit at 110.

• Stop Loss Percentage - Entry: 30%.

  • Pending order placed at 93 (30% of 10 points = 3 points, so the pending order price will be 90 + 3).

• Position Multiplier: 2.

  • The pending order will be 2 lots.

• TP Placement Mode: Mode 1.

  • The TP of the pending order is set at the entry price of the original position, i.e., 100.

With this logic, the EA helps manage user-opened trades automatically, allowing for hedging strategies and increasing exposure under specific conditions.

Note: The Stop Loss will always be the same as the original position opened by the user.