Custom Logic For Trading
- Utilità
- Jetaroon Sriboonruang
- Versione: 1.0
- Attivazioni: 5
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
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Initialization: Configure the input parameters to tailor the bot to your specific trading strategy. Attach the script to the desired chart in MetaTrader 4.
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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.
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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.
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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.
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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.
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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
- Setup: Configure the input parameters according to your trading strategy.
- Deployment: Attach the script to the desired chart in MetaTrader 4.
- Execution: The bot will automatically manage trading activities based on the configured logic and parameters.
