Order Script Modification | Forex Factory

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Order Script Modification

  • #1
  • First Post: Jan 7, 2012 7:27am Jan 7, 2012 7:27am
Hi there,

could a kind soul help me modify this simple script.

What I need it to do, is automatically calculate the lot size, based on an input risk % of EQUITY (not balance).

Risk input : 0.5% (default)

Take Profit : 300 (default)

Stop Loss : 100 (default)

So that the script based on the above automatically calculates the lot size and places the trade when dragged to the chart..

Thanks a lot, I hope anybody can help me a bit

BR

PC
Attached File(s)
File Type: mq4 TraderScript1-5digits.mq4   2 KB | 460 downloads
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  • #2
  • Jan 8, 2012 2:22am Jan 8, 2012 2:22am
Anyone?

Thx

PC

Quoting pipcruiser
Hi there,

could a kind soul help me modify this simple script.

What I need it to do, is automatically calculate the lot size, based on an input risk % of EQUITY (not balance).

Risk input : 0.5% (default)

Take Profit : 300 (default)

Stop Loss : 100 (default)

So that the script based on the above automatically calculates the lot size and places the trade when dragged to the chart..

Thanks a lot, I hope anybody can help me a bit

BR

PC
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  • #3
  • Edited Jan 9, 2012 3:15am Jan 8, 2012 3:41am | Edited Jan 9, 2012 3:15am
Here it is.
If you find errors, please report.

Edit: It didnīt work on ECN, therefore I made it ECN-compatible.
Please use the new attachment.

There are 2 more files besides the script.
One goes into the experts/include folder,
the other into experts/libraries folder.

You need to restart mt4 to get the script working.
Attached File(s)
File Type: zip Trader Script.zip   66 KB | 428 downloads
  • #4
  • Jan 8, 2012 11:00am Jan 8, 2012 11:00am
Thanks a million!

I will test and report back

BR

PC

Quoting fxtr51
Here it is.
If you find errors, please report.
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  • #5
  • Jan 9, 2012 4:50am Jan 9, 2012 4:50am
Pipcruiser,
I updated the script.
Now it works on all brokers.
It has the option to choose a MagicNumber too, for some that is helpfull.
  • #6
  • Last Post: Edited 2:49pm Aug 7, 2012 11:34am | Edited 2:49pm
love this script, thank you!

is it possible to have the stop loss and take profit set by an Average Daily Range multiplied by a user defined amount? eg. 0.25 for SL and 2.00 for TP

This would make quickly applying it to numerous pairs much easier (30 pips on cable is very different to 30 pips in something like USDJPY at the moment).

ML


edit:
found this. it doesn't use ADR but ATR is definitely near enough:
http://www.forexfactory.com/showthread.php?t=235971
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