MT5 - Simple Algoritmic Trade

PARAMETERS

Trade Area Low =

Trade Area High =

Trade Type = 1-Buy / 2-Sell

Extra SL Value =

Extra Entry Value =

Profit Coefficient =

Target Coefficient =

Lot Root Coefficient =

Lot Size Coefficient =

TP Root Ceofficient =

TP Size Coefficient =

New Position Compensation =

Loss Position Compensation =

Swap Compensation = 1-On / 2-Off

Maximum Spread =

Trading Time = 1-On / 2-Off

Start Time = ..:..

End Time = ..:..

Delete SL = 1-On / 2-Off

Magic Number =

1)I will manually define a trade area using the Trade Area Low and Trade Area High parameters. The EA will operate only within this designated trading zone.

2)The Trade Type parameter will determine whether a buy or sell position will be opened. Within the defined trade area, only the selected position type will be executed.

3)The trading logic operates as follows: For example, assume that the parameters for the EURUSD pair are set as Trade Area Low = 1.07931 and Trade Area High = 1.08123. Also, assume that Trade Type = Buy is selected. When the EA is activated, a pending BUY STOP order is placed at the high of the lowest red candle within or touching the 1.07931-1.08123 price range. If this pending order is triggered, a position is opened with a lot size and TP value calculated based on other parameters. If this position is stopped out at SL, a new position will be opened under the same conditions based on other parameters. If the price violates the Trade Area Low level downward and exits the trade area, the EA will automatically shut down. 

4)The Extra SL Value parameter allows an additional value to be added to the lowest point of the reference structure break, thereby increasing the stop-loss level. For example, if Extra SL Value = 0.1, the SL value set by the EA will be 0.1 pips lower/higher than the calculated level.

5)The Extra Entry Value parameter delays position entry further. If Extra Entry Value = 1.3, the pending order for the position entry level calculated by the EA will be placed 1.3 pips lower/higher.

6)The Maximum Spread parameter prevents position opening if the bid-ask spread of the respective financial asset exceeds a certain level. For example, if Maximum Spread = 0.2 and the asset’s spread value reaches 0.3 pips, no position will be opened even if pending orders are active until the spread condition is met.

7)The Trading Time parameter determines the time intervals during which the EA will operate. If Trading Time = On, the EA runs at all times.

8)The Delete SL parameter works in conjunction with the Trading Time parameter. If Delete SL = On, Trading Time = On, and End Time = 23:55, then at 23:55, the SL values of all active positions are deleted to prevent them from being stopped out due to sudden nighttime spread spikes. If Start Time = 01:00, at 01:00, the previous SL values of all active positions are reinstated. Positions that have exceeded their SL values will be automatically closed.

9)The parameters Profit Coefficient, Target Coefficient, Lot Root Coefficient, Lot Size Coefficient, TP Root Coefficient, TP Size Coefficient, New Position Compensation, and Loss Position Compensation are essential for the application of my formulas. You can find my formulas and calculations in file Trade Formulas. I will manually define these parameters. The numbers I enter manually into these parameters will be used to calculate the Lot Size and Take Profit values.