Learn New MQL Coding

It looks good to me. The only other thing I can think of at this point is that when I said
"The goal of this system is to initiate AT LEAST 6 trades (or more, and I have had it pick up as many as 20 in rare situations) and carry those trades for 100 or more pips profitably from the original Target. Because of this, adding Stop Loss is NOT recommended on any of the trades. But I usually add Profit Stops AT THE ORIGINAL target to ALL profitable trades WHEN all of the open positions are profitable. At this time I will also add a Take Profit target for all of the trades as well."

Although, for now, the EA is primarily for entering the trades and the trader would manipulate the Stops and Limits manually once the trades are entered, I guess I should tell you that I also move the stops that were initiated in the above "Bold" text - as well as adding stops (profit stops) to any remaining trades when the LEAST PROFITABLE TRADE is 50 pips profitable. At that point I protect 25 pips of profit on that least profitable trade and make sure that every other trade has a minimum of at least 25 pips protected. But the trader can so whatever they want with the stops - or close any/all of the trades at any point when they are profitable. If we ever decide to fully automate this, we will have to make some rules for profit protection, but I don't think it is an issue at present.

I had a thought on that also, but it's not an issue, we can add the profit logic at a later time.

after what happened last night - did it become more clear to you as to why the "use stop trades" or "use buy trades" only was kind of important?

Euh no, enlighten me please.

well, the dance started at 9:55pm (my local time) when the price first crossed above the target of 14760 - with the high at 14765. That was when I entered the Sell limit trades beginning at 14770. The next 4 1m bars with the low on those bars of 14741. The next 1m bar (10:00pm) broke above 14760 again (this is the first re-test to move higher) with the high on those bars at 147648 (so essentially showing a double top which can be construed as a resistance). The following 4 bars moved lower again. At 10:07pm we had another bar that broke above 14760 - but this time the high was14762 (a lower high which indicates that the resistance is strengthening) and this was also the 2nd failed test of trying to move higher. The next series of bars fell below 14760 again - but this time the low was 14751 (a higher low - which gave me hope that the next up move would break the resistance at 14765). At 10:18 the price again broke above 14760 and after a few minutes hit a high this time of 147685. So, what we had was a rally attempt to move higher - so again I was encouraged that it would meet my Limit orders. The price fell back again to 14750 - 3rd failed attempt higher. At 10:34pm there was a strong up move bar that went from a low of 14751 to a high of 147674. That bar is the one where I should have entered the Stop Orders - because on the strong bar you know that the price will only do 2 things - 1) move strongly to the upside - or 2) move strongly to the downside. I really only had about 10 seconds before the down move took over - NOT enough time to place 5 Sell Stop orders before the price fell back below 14765. But - I would have had enough time with the EA open to click on "Stop trades only" and have the EA pop those in before the price started falling. By 11:28 (less than an hour later) the price was down to 14665 - 100 pips from where the highest of the sell stop orders would have gone in.

Here is a screen shot of a series of gbp/nzd trades that I just closed from a demo account. I closed them early (prior to the take profit that I usually look for) because I've had enough fun for 1 night... The best in the series closed for 112 pips, and the worst for 37 pips. But, as it happened here, it did pick up all of the Sell Limit orders and all of the sell stop orders, so there were 10 trades. Total pips = 695 At one point I could have actually put in 2 additional Sell Limit orders as the price went 20 pips higher than the stack of orders I had placed - but I wasn't paying attention and missed it. In a live account, there would probably be a small amount of slippage hit and miss on the trade entries and exits - so the numbers wouldn't be nice and round and easy to read as in this example. ... .... uhmm, I just realized I don't know how to attach the jpeg file into this message system - can't get it to paste in a clip board pic either... oh well, sorry you can't see it.

oh... I guess it worked after all - but I didn't mean to post 2 of them... oh well.

Impressive.

From my side, I have the logic flowchart done. It looks good but I just need to play a bit with it to see if there are not too much errors, then I will post it so you can have a look at it and double check.

Here is the logic, it seems ok but it's good if you double-check it.

The code will follow...

Limit Orders only use case:

And Stop Orders only use case:

I will need some time to look at this. I hope I'm smart enough to understand it!! Thank you for all your hard work so far!! And, have a good weekend if we don't connect again before then.

There is only one thing I see where I think we might have had a miscommunication - and if so I can see where it was because of my wording. I am questioning R10 instruction. Whenever there are stop orders placed - be it because of: a) using stop orders only OR b) using both limit and stop orders, Stop orders - if qualifying to be "moved" will only move in one direction. Once moved, they will only move again if they are being moved again in the same direction. They will NOT ever move forward and then be moved backward.

Example: If a "Sell" scenario has been initiated for a "Use Sell Stops Only" transaction, and the Target price was 1.2345. The original placement of the Sell Stop Orders should be 1.2340, 1.2335, 1.2330, 1.2325, and 1.2320. IF the current price continued to go higher, and reached 1.2355 BEFORE any of the Sell Stop orders had be triggered, the all 5 would move higher by 10 pips. Once placed at this new level, they would stay there until triggered - or - would move again - but only higher - if the current price moved higher by another 10 pips.

In a situation where after the 5 Sell Stop Orders are placed, let's say that the current price dips and triggers the highest Sell Stop Order in the series - which in the scenario above would be the order at 1.2340 - so it has now become an active trade. But then, the current price rallies higher and gets up to 1.2355. The 4 remaining Sell Stop Orders would all move up by 10 pips becoming: 1.2345, 1.2340, 1.2335, and 1.2330. These orders would stay in this place until they are triggered as trades - or - until the current price reaches 1.2365. As you can see - IF the price started to fall significantly at that point it would yield 2 trades that would enter at the same price point of 1.2340 - but that's ok if it does. And, occasionally, the current price will move in a fashion that even more than 2 can trigger at the same price.

Stop Orders for "Selling" scenarios will ONLY move UP.
Stop Orders for "Buying" Scenarios will ONLY move DOWN.

But anyway, this is the only place where I think we may have a problem - but it could be that I am just not reading the Logic Chart correctly (as I am not astute on programming. If there was some confusion here I can see where it was due to where I wrote the following:
"...Again - in this situation, it could work out that the price might pick up one or several of the orders - then move higher again - even to the point where the EA would be moving the orders up before going down again. This could cause a situation where you have duplicate or multiple orders being filled at the same price point - but that's ok.)))] "
I SHOULD HAVE SAID :before THE PRICE starts going down again"

I hope I haven't caused too many problems!!

I still can't believe you got this far in two days! You are definitely my hero!

Thank you, thank you,
Mindy

One more thought - just to be clear...

When Stop Orders are placed - in any scenario - there will only be 5. No additional stop orders will be added - even in a situation where all 5 may have triggered as trades and are in a negative p/l state.

Only additional Limit Orders can be added to total more than 5.

No miscommunication issue as I understood exactly the same. Stop orders move like trailing stops, they don't go back to previous levels.

In my flowchart, "Push TargetPrice 10 pips" means that we monitor next level which is 10 pips away, when that new level is reached I say "Pull stop orders by 10 pips" the word "pull" meaning to bring closer by 10 pips. So we go in the same direction of the price.

I used push/pull wording so it works in both scenarios sell and buy.


That's exactly what's in the flowchart, once they are opened, we are done with the stop orders. That's why there is a test "Stop Orders Present ?"

So it's seems that I'm 100% aligned with your initial wishes.

Take some time to read the chart carefully, you will get more used and see that it does exactly that.

ok - then all is good - I just wasn't sure. Thank you a million more times, Mindy

Hi Mindy,

There is still one case (at least) we haven't yet discussed. Let's take the Sell scenario with stop orders only, our initial target price is 1.2340, so we have initial orders entered at 1.2335, 1.2330, 1.2325, 1.2320, 1.2315

At this point the EA is monitoring 1.2350 price in order to move up the stop orders by 10 pips once we are there, but:

What if the price triggers the 2 first orders (1.2335 and 1.2330) and then goes back up to 1.2340, so it moved 10 pips north from 1.2330. Do we have to move the remaining stops by 10 pips or wait for the move from 1.2340 to 1.2350 to do so ?

No - it would continue to keep the "move target" still at 1.2350. So - unless the price moved above 1.2350, the original list of Sell Stop orders would remain in effect.
So, if the price moved down and picked up the first 2 at 1.2335, and 1.2330 - then moved back up to 1.2340 (or any number between 1.2340 and 1.2349) we would have 2 trades that would have a negative p/l and 3 pending orders below. If the price moved up to 1.2350 - and moved the pending orders up by 10 pips to 1.2335, 1.2330 and 1,2325 - we might end up with a situation where we could have 2 trades pick up at the 1.2335 and 1.2330 slots.
But, if the price moved directly up to 1.2365 after picking up the first 2 - then we would have the 3 remaining orders now at 1.2345, 1.2340, and 1.2335 (again leaving up with a duplicate fill at 1.2335 if the price fell from there.

Fine! This is what is in the flowchart but I wanted to be sure.

I should be able to provide a first version of the EA, this week.

that would be amazing!! I am so excited about this.