Custom Logic For Trading MT5 Mini
- Утилиты
- Jetaroon Sriboonruang
- Версия: 1.0
Overview
Custom Logic for Trading MT5 Mini is the free version that designed to execute trades based on custom indicator signals, with robust position management features with break-even settings. 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.
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).
- shift: Shift mode (0 - current bar, 1 - previous 1 bar, and so on)
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.
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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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.
- 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 5.
- Execution: The bot will automatically manage trading activities based on the configured logic and parameters.
