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Buy Stop Limit and Sell Stop Limit Orders on MT4 3 replies

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Attachments: Scripts for Limit entry, Stop entry, Market entry
Exit Attachments

Scripts for Limit entry, Stop entry, Market entry

  • Post #1
  • Quote
  • First Post: Mar 29, 2008 7:29pm Mar 29, 2008 7:29pm
Here are a couple of scripts I wrote.

Buy With SL and TP. You can just enter the price and the script will figure out if it is a stop or a limit order for you. If you leave the entry field at 0.000 as is default, it will be a market order. You can also enter your StopLoss and Take profit in pips rather than figuring out the price. You can also select true for Auto money management and the percent to risk and the script will figure out your lot size accurately based on account balance and pipvalue for the pair.

The Sell script works the same way as the buy script only for a short.
Attached Files
File Type: mq4 Buy with SL and TP.mq4   2 KB | 7,148 downloads
File Type: mq4 Sell with SL and TP.mq4   2 KB | 5,896 downloads
wow cool scripts
thanks. I hope they will be of help.
Thank you! Just what I was looking for.
How to open a mq4 file? Please help.
  • Post #6
  • Quote
  • Edited Apr 4, 2008 12:00pm Apr 3, 2008 10:29pm | Edited Apr 4, 2008 12:00pm
This version allows you to choose how many orders you want opened and also it allows you to either, if UseActualSlTp = false, enter the SL and TP as pips OR if UseActualSlTp = true, just enter the SL price and the TP price. It will still figure out the lot size for you automatically based on AutoMoneyManagement = true.

The RiskPercent is per order. So if you have a RiskPercent of 1 that means 1% of your balance based on this formula per order you select. So if you select say 4 orders, that would be a total risk of 4% of your balance as the maximum you could lose.
Lot (Order) = AccountBalance *risk%/StopLoss/Pipvalue.
Attached Files
File Type: mq4 Buy w SL TP PrSL PrTP MultiLots.mq4   2 KB | 6,616 downloads
File Type: mq4 Sell w SL TP PrSL PrTP MultiLots.mq4   2 KB | 5,666 downloads
Quoting smjones
This version allows you to choose how many orders you want opened and also it allows you to either, if UseActualSlTp = false, enter the SL and TP as pips OR if UseActualSlTp = true, just enter the SL price and the TP price. It will still figure out the lot size for you automatically based on AutoMoneyManagement = true.

The RiskPercent is per order. So if you have a RiskPercent of 1 that means 1% of your balance based on this formula per order you select. So if you select say 4 orders, that would be a total risk of 4% of your balance as the maximum you could lose.
Lot (Order) = AccountBalance *risk%/StopLoss/Pipvalue.
Thanks much.

I launch the script enter the SL and TP pip value and 0 in entry for market order. (UseActualSLTp is also set to False) Hit OK.

I was expecting a sell order to be executed at the market price but nothing happened.

Could you please tell me what am I doing incorrectly? Thanks.

TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • Post #8
  • Quote
  • Edited at 8:07am Apr 4, 2008 7:04am | Edited at 8:07am
Quoting TradeStar
Thanks much.

I launch the script enter the SL and TP pip value and 0 in entry for market order. (UseActualSLTp is also set to False) Hit OK.

I was expecting a sell order to be executed at the market price but nothing happened.

Could you please tell me what am I doing incorrectly? Thanks.

TradeStar
Check the exact stop, takeprofit and balance of your account and risk% and then see if it is bounds for your broker.

If your broker does not allow maximum granularity, ie Lots = .12 it will not enter ther trade. I will add a input for if you are only allowed a mini ie .1 instead.

EDIT: I have changed the two scripts in the post above to include if you are allowed micro and mini order from your broker.

Also, If you set your risk so high or so small as to cause a lots size that is so small based on the stoploss and account balance, or so high for margin, that the order is less or more than your broker will accept, it will not enter a trade.
I'm working on a 5 min scalping system and these scripts make my system far more user friendly. Thank you very much.

I am wondering, (I'm learning to program, but still a long way to go) if it is possible to add to these scripts a one time moving stop.

For example, I set the original script to 10 s/l and 15 t/p. Now what I do manually is when I reach 10 pip profit I move my s/l to breakeven. Is this something that is possible to program the script to do as well?

You can see how useful that would be for my system. I would essentially be able to see my entry point, activate my script and let it run its course without having to monitor or interfere.

I am assuming it would be similar if not identical to a trailing stop of 10 pips. (Again, as of this time, something I still cannot program myself)
Quoting justinwol
I'm working on a 5 min scalping system and these scripts make my system far more user friendly. Thank you very much.

I am wondering, (I'm learning to program, but still a long way to go) if it is possible to add to these scripts a one time moving stop.

For example, I set the original script to 10 s/l and 15 t/p. Now what I do manually is when I reach 10 pip profit I move my s/l to breakeven. Is this something that is possible to program the script to do as well?

You can see how useful that would be for my system. I would essentially be able to see my entry point, activate my script and let it run its course without having to monitor or interfere.

I am assuming it would be similar if not identical to a trailing stop of 10 pips. (Again, as of this time, something I still cannot program myself)
Hi a trailing stop to BE or anything else, would have to be a EA, because by definition a script can only execute once. A Ea executes each time there is a new tick. The good news is that this script could be converted into a EA with trailing stops and BE stop at a certian price or TP, but I do not have time to do it right now. I posted the code and it is really well laid out and easy to follow if someone else wants to try. Or when I get time I will do it.
smjones, a great thanks for your scripts !
Perfect!
Exactly what I need and more.
Thanks very much.
Quoting smjones
This version allows you to choose how many orders you want opened and also it allows you to either, if UseActualSlTp = false, enter the SL and TP as pips OR if UseActualSlTp = true, just enter the SL price and the TP price. It will still figure out the lot size for you automatically based on AutoMoneyManagement = true.

The RiskPercent is per order. So if you have a RiskPercent of 1 that means 1% of your balance based on this formula per order you select. So if you select say 4 orders, that would be a total risk of 4% of your balance as the maximum you could lose.
Lot (Order) = AccountBalance *risk%/StopLoss/Pipvalue.
Hi Scott,



Just a minor point, but I think your lline of code that reads:

if ((Lots < 0.01&&MicroOrdersAllowed) || (Lots < 0.1&&MiniOrdersAllowed&&MicroOrdersAllowed==false))


would be better as:

if ((Lots < 0.01) || (Lots < 0.1 && MicroOrdersAllowed==false) || (Lots < 1 && MiniOrdersAllowed==false))

What do you think?

Sorry if I've misunderstood.

David
  • Post #14
  • Quote
  • Edited at 4:22pm Apr 8, 2008 11:27am | Edited at 4:22pm
Quoting hanover
Hi Scott,





Just a minor point, but I think your lline of code that reads:

if ((Lots < 0.01&&MicroOrdersAllowed) || (Lots < 0.1&&MiniOrdersAllowed&&MicroOrdersAllowed==false))


would be better as:

if ((Lots < 0.01) || (Lots < 0.1 && MicroOrdersAllowed==false) || (Lots < 1 && MiniOrdersAllowed==false))

What do you think?

Sorry if I've misunderstood.

David
Yes my code works fine, but yours is more compact and elegant. Feel free to change the code if you wish.
smjones can you help me to wirte a scripts for MT4 such that when open price comes out it will buy hwne the price moves up to 30pips and sell when it move down to 40pips. pls let me be changing the lotsize and take profit. pls i beg you i need it urgently to try something.
Hi there smjones

I like the looks of this.

I'm wondering if it is at all possible for this to be tweeked or added to so that the buy stop or sell stop is placed X number of pips above the high (for buy) or below (for sell) of the preceeding time frame once a go signal has been given by an indicator.


Thanks

James
Is it possible to write a script that is a trailing buy/stop or sell/stop market entry with a programmable amount of pips?
Example: if you are trying to predict the bottom of the move and you want to enter the market with a buy and you wanted to protect your position from going against you and was willing to enter (lets say 4 pips plus the spread above the bottom). the script would trail the move down with a buy/stop and execute a buy market order 4 pips from the bottom or turn around.
thanks for your help
Quoting pranxtrr
Is it possible to write a script that is a trailing buy/stop or sell/stop market entry with a programmable amount of pips?
Example: if you are trying to predict the bottom of the move and you want to enter the market with a buy and you wanted to protect your position from going against you and was willing to enter (lets say 4 pips plus the spread above the bottom). the script would trail the move down with a buy/stop and execute a buy market order 4 pips from the bottom or turn around.
thanks for your help
To answer your question..... Yes, it is possible.
has anyone created this script or know where or how can create it???
Quoting pranxtrr
Is it possible to write a script that is a trailing buy/stop or sell/stop market entry with a programmable amount of pips?
Example: if you are trying to predict the bottom of the move and you want to enter the market with a buy and you wanted to protect your position from going against you and was willing to enter (lets say 4 pips plus the spread above the bottom). the script would trail the move down with a buy/stop and execute a buy market order 4 pips from the bottom or turn around.
thanks for your help
Has anyone made this EA yet?
If so would you please share it?

Thanks.

Bruce
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